STAT, the Arizona Regional Multiple Listings Service’s (ARMLS®) monthly statistical newsletter, provides a lucid and timely view of what is happening to the residential real estate market in the Valley of the Sun – The Metro Phoenix Area. Unlike statistics compiled by other entities, it does not rely on data from third parties delivered thirty to ninety days late. STAT’s focus is on SALES and ACTIVE INVENTORY, year over year and month over month, including details on sales prices, foreclosures and short commentary. * The most current version will provide data from the previous month.
STAT April 2014
The April version of the STAT newsletter is ready for review and it covers March 2014 data. The STAT April 2014 version provides supporting data that a shift has taken place in the Greater Phoenix residential real estate market. The shift is from a seller’s market to a buyer’s market but analysts are wondering where are all the homebuyers as buyer demand is roughly 25% below normal.
ARMLS reported 6,712 sales in March 2014, down 17.7% from 8,153 in March 2013. The decline in sales volume exists almost entirely in homes purchased for less than $200,000, clearly demonstrating the decline in investor actvity in our market.
April 2014 STAT Highlights
Monthly Sales – 6,712 Units Sold – Down 17.7% year over year but Up 22.6% from last month.
New Inventory – 10,557 Listings – Up 8.8% year over year. Up 8.8% from last month.
Total Inventory – Currently 29,939 Active Listings for Sale. Up 44.4% from last year. Up .9% from last month.
Months Supply of Inventory – 4.49 Months. Same as last month.
New List Prices – up 8.9% from last year.
Sales Prices – Up 11.3% from last year.
Foreclosures Pending – 4,983 Units – Down 51.1% from last year.
Average Days on the Market – 83 – Up 10 days from last year and Down 3 days from last month
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