NW Phoenix Real Estate Guide

We are back, and there is definitely some good news to report.  In short, the gains that were made in March were definitely built upon, and taken in combination, the last 2 months have had a fairly signifigant impact on the market.  Enough of my talk…  Let’s take a look at what the market has done, and, as usual, click on the chart to see the enlarged version (opens in a new window).

What can I say?  Inventory level is down; Active listings are down; New listings are down; Sales are up.  Each of these indicators represents the superlative in each category for the last 2 years, and though prices are still quite depressed, inventory levels are reaching balanced territory.

Again, we can see just how dramatic the volume of sold properties compared to the last 2 years of data, and we can see that, inversely, days on market are down slightly.

 Well, well, well…  Here we see some history being made.  We are actually seeing some market appreciation, albeit ever so slight, but it is appreciation nonetheless, and we’ll take it.

 Again we see the appreciation along with the decrease in days on market, or the time it takes to sell a property.

 This one is a bit difficult to read right now – next month will give us a little better opportunity to gauge this apparent dip in price reductions.  More on this one next month…

All in all, I couldn’t be more satisfied right now, or more tired.  I know, I know…  We would love to see the prices come up, but we’re in uncertain economic times, and we need to make sure that the recovery is sustainable in terms of what buyers can afford.  I’m just happy leveling-off for a change. 

Stay tuned to this space in the next month for the latest in Phoenix real estate, but feel free to check out our real estate resources section of our website – we update it frequently.  Thanks again, and let me know what you think.