Current Market Data from our friends at Equity Title for August 2012
Total active listings(with no AWC) have picked up by 794 units over the last month. As of August 26th, we sit at 14,249 Actives All Property Types. Sales are at 7133 for the last 30 days (as of August 26th), down by 496 units from one month ago! We are currently sitting at a 2.0 months of supply, (based on Active listings with no AWC). Pending sales are down slightly from the month before as of August 26th, 10,892 vs one month ago at 11,192 . Traditionally, 3-4 months of supply indicate a balanced market. Now is the time to take listings!
July 2012 re-sales and new sales in Maricopa County were 8272 in June 2012 they were 8394. Compared to July 2011 7891. That is a (4.0%) Increase! The median price in Maricopa County for July 2012 was $150,000 in July 2012 it was $155,000. This marks a 3% decrease. July 2011 it was $120,000 for a 25% increase!!!! In July 2007 it was $258,273 and in July 2001 it was $141,968!
Distressed Market Pie Chart: This chart shows you the percentage of distressed properties that are being listed and sold. Short Sales represent 28% of the Closings for the last month, and 33% of the active listings for a 3.5 Months of Supply. If you take the AWC’s out we drop down to .6 months of supply! Distressed Sales (Short Sales and REOs combined) accounted for 41% of the total sales for in the last month. REO property sales equal to 13% of the sales for the last month. The listing success rate for Short sales is 63% ! Don’t avoid these listings! They are closing with greater success rate!
Check out our new graph! It is the last one! Give you the average dollar per square foot of solds by month on a line chart going back one year.
Luxury: The Luxury Market of $1.0 Million and above continues to be the lowest absorption rate of any market segment. There was a 8% absorption rate for the last month. Only 70 properties in all of the MLS were sold for more than $1.0 million.
Please click on the link below to take you to the Graphs. You can save/print/email them from there! Use these with all of your clients, as a news letter and at open houses! Everyone wants to know what is happening in Real Estate – Be the authority!! Remember that you can always go to www.eta-az.com and click on Sales and Marketing then Market Update for this info as
Equity Title has great marketing tools and programs to help you get more business – call me to set up an appointment!
MONTHS OF SUPPLY (with AWC listings) (Single Family Only)
Paradise Valley: 9.8
Luxury ($1mil+): 13.3
Camelback Corridor: 3.5
Cave Creek: 2.8
Fountain Hills: 5.5
Desert Ridge & Tatum Corridor: 1.8