Realty Reality
March 2019
Multiple Listing Service (ARMLS) data published February 2019
Kraig R. Nelson, Associate Broker
Carefree-
Sold volume (dollar amount) was 28.22% lower; active listings [89] were 21.24% lower; and the median sold price [$537,500] was 3.72% lower, compared to one year ago.
Average days on market were 79. 10 residential units closed escrow.
Cave Creek-
Sold volume (dollar amount) was 40.02% lower; active listings [270] were 10.89% lower; and the median sold price [$420,000] was no-change, compared to one year ago.
Average days on market were 117 32 residential units closed escrow.
Scottsdale-
Sold volume (dollar amount) was 15.70% lower; active listings [2,649] were 2.72% lower; and the median sold price [$479,000] was 7.84% higher, compared to one year ago.
Average days on market were 92. 501 residential units closed escrow.
Phoenix
(city only)
-
Sold volume (dollar amount) was 1.08% higher; active listings [4,128] were 16.61% higher; and the median sold price [$252,900] was 11.41% higher, compared to one year ago.
Average days on market were 70. 1,,271 residential units closed escrow.
Kraig’s Comments-
·
Distressed sales (short sales and lender owned) represent 1.00% of the total sales volume.
·
There is a 4.38-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 5.70% higher [22,903 units] than one year ago.
·
Entire Phoenix Metro Area
:
median sold price is $262,100; 7.00% higher than one year ago
. Average days on market were 72.
·
Average sold price compared to original list price is 96.22% in the Phoenix Metro Area. This means a home listed for $400,000 sells for about $384,880.
·
Production new-home “spec” (or speculation) count is 2,392; 141 more than 6 months ago. New-home subdivisions: 602; 33 more than six months ago. (from
Ultimate New Homes Newsletter
)
·
Total Phoenix Metro residential units sold and closed last month: 5,357 This is 11.90% lower than one year ago.
·
Total dollar amount for Phoenix Metro
residential units
sold
and
closed:
$1,753,766,145. (
that’s 1 billion, 754 million
- rounded for conversation).
This is 7.43% higher than one year ago.