Below
is the my Real Estate Market Update
compiled from Michael Orr’s ASU Monthly Housing Report, ARMLS STAT and The
Arizona Republic. This data is typically 45 days behind current market
conditions. I hope you find this data
and information valuable!
June Stats from ARMLS
·
New
Listings in June fell by 6% to 9,246 from the prior month. Year over year we are down .3%
·
Inventory:
Total inventory declined again 1.1% to 19,511 in June…Months
supply of inventory is 2.37
·
As
of July 11th…ARMLS showed 15,725 active listings with 3,786 UCB listings…30,000 active listings is considered normal!
·
Home
Sales: June sales decreased 12.8% to
8,228 from May. Year
over year we are plus 1.2%
·
June’s
median new list price remained flat
at $199,900. The average
new list price declined from $281,670
to $275,608.
·
June’s
median sales price increased 2.9% to
$180,000, representing a 27.7%
gain over the past 12 months. Average
sales price slipped to $236,954 from $237,800, indicating a 25.7% increase since June 2012.
·
Foreclosures
pending dropped again in June to
8,027 falling 9% from last month and down 55% Year over year!!
·
Distressed
sales total (short sales plus lender owned sales) of 1,766 fell
again as a percentage of total sales to 21.5%
·
From the PPI
Supplement (source ARMLS)…this shows the Price Points where most contacts
are being written:
The following data is from ASU W.P. Carey School of Business
with Michael Orr, Director Center of Real Estate Practice and Theory
Price
Per SQ FT continues upward in all categories!!!
Like always, if you want to know what is going on in TODAY'S market, please contact me and I would be happy to answer any questions you have.
