STAT September 2014
The STAT September 2014 newsletter is ready for review and it covers August 2014 data. The September report shows our current market is in a state of limbo. Low demand and a lack of new inventory have balanced the market into a standstill, according to Tom Ruff of The Information Market.
September STAT Highlights
Monthly Sales – 6,428 Units Sold – Down 8.9% year over year. Down 5.1% from last month.
New Inventory – 8,175 Listings – Down 16.6% year over year. Down 3.5% from last month.
Total Inventory – 27,066 Active Listings for Sale. Up 26.6% from last year. Up 0.5% from last month.
Months Supply of Inventory – 4.21 Months. Roughly same as last month.
New List Prices – Average List Price is $289.7K. Up 5.5% from last year.
Sales Prices – Average Sales Price is $249.0K. Up 5.6% from last year.
Foreclosures Pending – 6,215 Units – Down 35% from last year.
Distressed Sales 660 Units or 10.3% of current sales in MLS. Down 51.5% from last year
Average Days on the Market – 88 – Up 29 days from last year. Up 2 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.