This edition of the STAT October 2015 newsletter covers September 2015 residential real estate data for the Valley of the Sun – Metro Phoenix, AZ. In this month’s issue, Tom Ruff of the Information Market mentions that while the temperatures may not reflect the Fall season, we are well into seasonal patterns for our market. September 2015 ended with 6,935 MLS sales, a -1.1% decline over August 2015 which was better than the expected -2% seasonal decline. Sales prices and new list prices increased 4.3% and 4.9% year-over-year respectively. Overall, September 2015 looked better than September 2014.
Tom also asks the question “What should we make of the existing inventory – a.k.a the listings that didn’t sell? Today’s new listing contracts become tomorrow’s sales contracts. This month we are going to take a look at the listings that did and didn’t sell in September 2015. From this perspective, there were 6,935 sales and 18,356 unsold listings in September… Check out the STAT highlights below and be sure to read the entire STAT October 2015 newsletter.
October STAT Highlights
Monthly Sales – 6,935 Units Sold – Up 10.1% from last year. Down 1.1% from last month.
New Inventory – 9,238 Listings – Up 7.2% from last year. Up 7.6% from last month.
Total Inventory – 22,308 Active Listings for Sale. Down 11.6% from last year. Up 3.9% from last month.
Months Supply of Inventory – 3.36 Months. Up slightly over the past two months.
New List Prices – Average List Price is $337.3K. Up 4.9% from last year.
Sales Prices – Average Sales Price is $259.6K. Up 4.3% from last year.
Foreclosures Pending – 4,616 Units – Down 25.4% from last year. Down 0.4% from last month.
Distressed Sales – 408 Units or 5.9% of current total sales in MLS. Down 32.3% from last year.
Average Days on the Market – 71 – Down 13 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.