The STAT October 2014 newsletter is ready for review and it covers September 2014 data. The October report shows there were no surprises this month in the residential real estate market. Sales volume in September came in as expected while prices remained flat, according to Tom Ruff of The Information Market. Check out the STAT highlights below and be sure to read the entire article as Tom discusses “What is the difference in sales prices between using a Realtor and selling a home via FSBO.”
October STAT Highlights
Monthly Sales – 6,252 Units Sold – Down 1.0% year over year. Down 2.7% from last month.
New Inventory – 8,614 Listings – Down 8.1% year over year. Up 5.4% from last month.
Total Inventory – 26,379 Active Listings for Sale. Up 12.8% from last year. Down 2.5% from last month.
Months Supply of Inventory – 4.22 Months. Roughly same as last month.
New List Prices – Average List Price is $321.5K. Up 6.0% from last year.
Sales Prices – Average Sales Price is $249.0K. Up 5.2% from last year.
Foreclosures Pending – 6,190 Units – Down 31.5% from last year.
Distressed Sales 603 Units or 9.6% of current sales in MLS. Down 57.3% from last year
Average Days on the Market – 84 – Up 22 days from last year. Down 4 days 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.
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.