Phoenix & East Valley Real Estate Stats: May 2007

by Jay Thompson on June 1, 2007

Here are the Phoenix and East Valley real estate listings and sales stats for May…

Current Listing Stats (June 1, 2007)
Location	Active Listings	Avg List Price ($)	Avg Square Footage	Avg Days On Market
Gilbert	2576	432,893	2441	90
Mesa	4339	337,962	1907	89
Chandler	2638	418,992	2254	89
Tempe	855	383,067	1731	80
Phoenix Metro	53,103	457,207	2157	98

Current Sales Stats (May 1, 2007 – May 31, 2007)
Location	Sales	Avg List Price ($)	Avg Sales Price ($)	Avg Days On Market
Gilbert	315	350,967	341,645	95
Mesa	624	264,820	256,810	80
Chandler	349	365,487	355,024	84
Tempe	187	327,787	315,257	70
Phoenix Metro	5,744	359,382	346,128	89

Data extracted from ARMLS – Arizona Regional Multiple Listing Service

Anyone know an easy way to put tables in a WordPress post? This was far too painful…

Update: This plugin looks like it may be the easiest way to get tables into a WordPress post. I haven't fully tested it yet, but it looks very promising… you can import CSV files as tables, format table settings, etc. all within your WP back end.

[tags]Phoenix real estate, listings and sales stats[/tags]

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Jay - The Phoenix Re

Hugh -

I suspect what you're seeing is due to using averages. The actual DOM varies wildly. Remember, if one home sells in a day, and another sells in 180 days, you've got a 90 day average DOM.

Also, the average DOM is trending upward (which you can't tell from the above data).

And we get new listings coming on the market every day, which suppresses the average DOM number.

What would be telling is to plot a histogram of DOM for current listings. Unfortunately, that would be very painful data to extract from our MLS...

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Hugh Farrell

The numbers do not make sense to me. The average days on market are all in the neighborhood of 3 months while the ratio of units sold to units listed indicate between 5 and 10 months of inventory. Could you explain that to this newbie?