This edition of the STAT May 2015 newsletter covers April 2015 residential real estate data for the Valley of the Sun. This month’s issue leaves us in the middle of our buying season, the time of year when our monthly sales volume peaks. Sales for the first four months of 2015 are 9% higher than sales for the first four months of 2014 and this trend is expected to continue. Some interesting historic sales data… When we look at individual monthly sale numbers over the past 14 years, we see that March, April, July and August each accounted for the highest monthly sales total only one year each. May and June, in contrast, accounted for the highest monthly sales volume 5 times, according to Tom Ruff of the Information Market. Check out the STAT highlights below and be sure to read the entire STAT May 2015 newsletter.
May STAT Highlights
Monthly Sales – 8,367 Units Sold – Up 9.2% year over year. Up 5.9% from last month.
New Inventory – 10,099 Listings – Up 0.7% year over year. Down 2.4% from last month.
Total Inventory – 25,889 Active Listings for Sale. Down 12.6% from last year. Down 2.2% from last month.
Months Supply of Inventory – 3.09 Months. Down slightly from last month.
New List Prices – Average List Price is $325K. Up 7.6% from last year.
Sales Prices – Average Sales Price is $265.5K. Up 5.9% from last year.
Foreclosures Pending – 5,589 Units – Down 21.2% from last year.
Distressed Sales – 530 Units or 6.3% of current total sales in MLS. Down 34% from last year.
Average Days on the Market – 84 – Up 2 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.