Realty Reality
January 2019
Multiple Listing Service (ARMLS) data published December 2018
Kraig R. Nelson, Associate Broker
Carefree
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Sold volume (dollar amount) was 25.60% lower; active listings [81] were 19.00% lower; and the median sold price [$444,500] was 19.18% lower, compared to one year ago.
Average days on market were 114. 10 residential units closed escrow.
Cave Creek
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Sold volume (dollar amount) was 23.27% lower; active listings [231] were 20.34% lower; and the median sold price [$510,000] was 12.83% higher, compared to one year ago.
Average days on market were 86. 49 residential units closed escrow.
Scottsdale
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Sold volume (dollar amount) was 7.38% lower; active listings [2,472] were 7.90% lower; and the median sold price [$470,000] was 11.11% higher, compared to one year ago.
Average days on market were 92. 588 residential units closed escrow.
Phoenix
(city only)
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Sold volume (dollar amount) was 1.96% lower; active listings [4,090] were 4.07% higher; and the median sold price [$250,000] was 8.70% higher, compared to one year ago.
Average days on market were 63. 1,,541 residential units closed escrow.
Kraig’s Comments-
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Distressed sales (short sales and lender owned) represent 1.20% of the total sales volume.
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There is a 3.30-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.
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Total residential inventory is 1.70% lower [21,477 units] than one year ago.
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Entire Phoenix Metro Area: median sold price is $262,000; 6.90% higher than one year ago. Average days on market were 64.
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Average sold price compared to original list price is 96.75% in the Phoenix Metro Area. This means a home listed for $400,000 sells for about $387,000.
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Production new-home “spec” (or speculation) count is 2,370; 284 more than 6 months ago. New-home subdivisions: 596: 22 more than six months ago. (from Ultimate New Homes Newsletter)
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Total Phoenix Metro residential units sold and closed last month: 6,515 This is 7.90% lower than one year ago.
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Total dollar amount for Phoenix Metro residential units sold and closed: $2,095,207,280. (that’s 2 billion, 95 million- rounded for conversation). This is 2.88% higher than one year ago.
