July 2006 MLS Listings and Sales Stats

Homes (Data includes Single Family Homes, condo/Townhomes, 2 – 4plex, mobile/mfg and timeshares):

As of August 5, 2006 at 5:51pm:

Current Active Listings: 46,346 (39,086 SFH’s)
Active With Contingencies (AWC): 923 (what does AWC mean?)
Pending: 6,348
Sold (July 1, 2006 – July 31, 2006): 6,103
Sold (June 1, 2006 – June 30, 2006): 7,212

Land:
Active: 9,930
AWC: 45
Pending: 377
Sold (July 1 – July 31): 327

Most expensive current listing: $15,000,000. Nine bedroom, 13 baths, 18,000 square feet in Paradise Valley.

Number of homes listed over $1,000,000 = 2,316
Number of homes listed over $10,000,000 = 12

For more Phoenix Home Sales stats visit the Statistics Page at http://www.ThompsonsRealty.com

Data is extracted from the Arizona Regional MLS (ARMLS) and compiled by yours truly

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jocu49@hotmail.com

At what point does the funtamental law of supply and
demand begin to effect prices.

2005 saw unusal gains, which many homeowners are attempting to
benefit from, but seem to forget the that the more there is to
buy, prices must come down to move the inventory.

This is true with apples, tee shirts and houses.

The AZ Real Estate Guy

"At what point does the funtamental law of supply and demand begin to effect prices."

Many would say it already has. While the average and median sales prices continue to increase, the rate of increase has slowed *significantly*.

One look at the MLS will show thousands of listings with price reductions. Much of that is due to sellers in denial that the 50% appreciation rates of last year are gone.