STAT, the Arizona Regional Multiple Listings Service’s (ARMLS®) monthly statistical newsletter, 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 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 May 2014
The May version of the STAT newsletter is ready for review and it covers April 2014 data. The STAT May 2014 version provides supporting data that we are experiencing what many believe to be a balanced market with total inventory at 29,627 units for sale, which is a 3.87 months supply of inventory and an average days on market of 82.
May 2014 STAT Highlights
Monthly Sales – 7,659 Units Sold – Down 12.5% year over year but Up 14.1% from last month.
New Inventory – 10,027 Listings – Up 1.6% year over year. Down – 5.0% from last month.
Total Inventory – Currently 29,627 Active Listings for Sale. Up 47.5% from last year. Down – 1.0% from last month.
Months Supply of Inventory – 3.87 Months. Down slightly from 4.46 last month.
New List Prices – Up 6.6% from last year.
Sales Prices – Up 10.0% from last year.
Foreclosures Pending – 4,693 Units – Down 50.2% from last year.
Average Days on the Market – 82 – Up 12 days from last year and Down – 1 day from last month
If you are a potential homebuyer 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.