In a nutshell, the Phoenix real estate market held relatively steady, and did little in the way of variation from last month, so rather than bore you to death with my typically captivating and always interesting analysis of the market, I’ll get right to the numbers and will struggle to be brief. On with the numbers… Remember, click on any of the charts to see the larger version (opens in a new window).
Here in the Active, Sold & New Listings chart we see that inventory is up slightly as are new listings, and sales are slightly down.
In the Sold DOM vs. Units chart, we see that although sales are down below the level that they were this summer, days on market continue to fall.
As we look at the Volumes & Avg. Prices chart, we see that both list prices as well as sold prices are up slightly from the previous month.
The data in the Sold DOM vs. Sold Price chart has all been represented in one of the other charts, but it does show the market working in the the direction we like it to work.
I’ve been watching Price Change Trends chart very closely for the last year or so and first pointed out then that we were looking at some modest form of recovery, and if this is an early predictor of market prices–which I maintain it is–I think we’ll continue to see prices continue to recover, albeit modestly, through the winter months and into spring where we ought to see the market’s natural forces take over for a few months.
There, that was pretty painless: not too verbose; kept it pretty high-level, and stayed out of the weeds. I don’t think it would be all bad to have a couple of months just like this…the market, not my comments! Why I oughtta…
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.
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