Realty Reality
February 2019
Multiple Listing Service (ARMLS) data published January 2019
Kraig R. Nelson, Associate Broker
Carefree-
Sold volume (dollar amount) was 69.92% lower; active listings [80] were 19.19% lower; and the median sold price [$473,500] was 32.35% lower, compared to one year ago.
Average days on market were 78. 6 residential units closed escrow.
Cave Creek-
Sold volume (dollar amount) was 15.99% higher; active listings [235] were 14.86% lower; and the median sold price [$454,500] was 8.30% higher, compared to one year ago.
Average days on market were 113. 56 residential units closed escrow.
Scottsdale-
Sold volume (dollar amount) was 9.77% lower; active listings [2,418] were 6.68% lower; and the median sold price [$486,000] was 11.08% higher, compared to one year ago.
Average days on market were 93. 569 residential units closed escrow.
Phoenix
(city only)
-
Sold volume (dollar amount) was 3.01% lower; active listings [3,901] were 9.83% higher; and the median sold price [$245,000] was 6.57% higher, compared to one year ago.
Average days on market were 64. 1,,559 residential units closed escrow.
Kraig’s Comments-
· Distressed sales (short sales and lender owned) represent 1.30% of the total sales volume.
· There is a 3.23-month supply of residential inventory in the Phoenix Metro Area. Generally, a balanced market for buyers and sellers is about 6 months; however, all accurate statistics are neighborhood specific.
· Total residential inventory is 3.40% higher [20,694 units] than one year ago.
·
Entire Phoenix Metro Area
:
median sold price is $262,000; 6.40% higher than one year ago
. Average days on market were 68.
· Average sold price compared to original list price is 96.50% in the Phoenix Metro Area. This means a home listed for $400,000 sells for about $386,000.
· Production new-home “spec” (or speculation) count is 2,421; 324 more than 6 months ago. New-home subdivisions: 582: 8 more than six months ago. (from
Ultimate New Homes Newsletter
)
·
Total Phoenix Metro residential units sold and closed last month: 6,403 This is 9.40% lower than one year ago.
·
Total dollar amount for Phoenix Metro
residential units
sold
and
closed:
$2,076,488,008. (
that’s 2 billion, 76 million
- rounded for conversation).
This is 3.50% higher than one year ago.
