This edition of the STAT July 2015 newsletter covers June 2015 residential real estate data for the Valley of the Sun. In this month’s issue, Tom Ruff of the Information Market mentions that while “Supply tightens and demand holds steady” might not be the most glamorous headline, it perfectly describes the first 6 months of 2015 as our inventory numbers have declined every single month. STAT is currently reporting only 19,596 Active (excluding UCB) listings, down 20% from last year at this time. We currently have only 2.69 months of inventory. The low number of homes available for purchase, particularly listings below the $200,000 price level, has lead to a significant increase in the median home price this year. Check out the STAT highlights below and be sure to read the entire STAT July 2015 newsletter.
July STAT Highlights
Monthly Sales – 8,674 Units Sold – Up 20.2% from last year. Up 4.3% from last month.
New Inventory – 9,120 Listings – Up 5.1% from last year. Down 1.9% from last month.
Total Inventory – 23,337 Active Listings for Sale. Down 15.8% from last year. Down 5.1% from last month.
Months Supply of Inventory – 2.69 Months. About the same as last month.
New List Prices – Average List Price is $307.3K. Up 4.5% from last year.
Sales Prices – Average Sales Price is $271.0K. Up 5.8% from last year.
Foreclosures Pending – 5,048 Units – Down 22.1% from last year. Down 6.1% from last month.
Distressed Sales – 551 Units or 6.4% of current total sales in MLS. Down 23.5% from last year.
Average Days on the Market – 78 – Down 4 days from last year.
If you are a potential home buyer and have questions regarding the current real estate market data in the specific area where you are planning to purchase, be sure to consult with your Realtor or feel free to Contact US.
If you would like to search homes for sale throughout the Valley of the Sun, be sure to visit our Home Search Page.
Arizona Regional Multiple Listings Service’s (ARMLS®) monthly statistical newsletter STAT, provides a 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 third party data. 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.