Phoenix Real Estate: Southeast Valley Inventory Snapshot

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by on September 13, 2007


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Data from Arizona Regional Multiple Listing Service (ARMLS). Compilation and chart provided by Sandra DiCosmo (the best!) with First American Title, Price/Warner Branch in Tempe, AZ.

(As noted, "Southeast Valley" data includes Ahwatukee, Apache Junction, Chandler, Gilbert, Guadalupe, Mesa, Queen Creek, Sun Lakes, and Tempe.)

If you're not inclined to do the math yourself: 19,644 active listings / 1,515 recent sales = 12.96 month supply….  that's a frightening number.

 

[tags]Phoenix real estate listings stats, Southeast Valley[/tags]

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Filed Under: Listing & Sales Stats, Market Conditions, Phoenix Real Estate

About the Author
Jay Thompson

I'm a real estate broker in Phoenix, Arizona and the publisher of the Phoenix Real Estate Guy blog. I tend to drive too fast and scream at the University of Texas and Denver Broncos football teams. My two kids are smarter than most adults I know and my wife is simply amazing.

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Jayson

Doesn't look like things were very active this time last year. Any chance of getting an update to see where we stand now?

I'd hope some of the inventory has cleared up and would love to see a decline!

Curious about the sales too - where would I find some of this information?

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Scoot

It's rough up here in the White Mountains as well, but I believe it will come back, I just hope it's sooner than later. I'm hungry!

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Barry Cox

I agree Jay, a 12 month inventory is rough. I'm waiting for the day when inventory comes back down to a 6 month, or even more healthy 3 month supply. As crazy as it sounds though, I prefer this market to when you would have to write 15 contracts for your buyers just to get 1 accepted. Go figure.

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Jay - The Phoenix Re

Daniel - it's rough, trust me...

Norm - for the Phoenix Metro area in the same time frame as above (8/12/07 - 9/12/07) average days on market for homes sold was 114 days.

Of course that means for every home that sold in 1 day, another sold in 228 days...

For the 211 listings that sold at a price of $300 - $325K, days on market ranged from 3 to 541. And just about everything in between.

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Norm Fisher

Wow! That is nuts. It's like a small city for sale. :)

Jay, Phoenix must have a brutal sales to listing ratio but I'm curious about the average selling time for those that are drawing offers.

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Daniel Rothamel

13 months of inventory?! That IS rough. We are hovering around the 9-10 month mark here in Central VA.

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Jayson

Doesn't look like things were very active this time last year. Any chance of getting an update to see where we stand now?

I'd hope some of the inventory has cleared up and would love to see a decline!

Curious about the sales too - where would I find some of this information?

share
  • spam
  • offensive
  • disagree
  • off topic
 Like
Scoot

It's rough up here in the White Mountains as well, but I believe it will come back, I just hope it's sooner than later. I'm hungry!

share
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  • disagree
  • off topic
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Barry Cox

I agree Jay, a 12 month inventory is rough. I'm waiting for the day when inventory comes back down to a 6 month, or even more healthy 3 month supply. As crazy as it sounds though, I prefer this market to when you would have to write 15 contracts for your buyers just to get 1 accepted. Go figure.

share
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Jay - The Phoenix Re

Daniel - it's rough, trust me...

Norm - for the Phoenix Metro area in the same time frame as above (8/12/07 - 9/12/07) average days on market for homes sold was 114 days.

Of course that means for every home that sold in 1 day, another sold in 228 days...

For the 211 listings that sold at a price of $300 - $325K, days on market ranged from 3 to 541. And just about everything in between.

share
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  • offensive
  • disagree
  • off topic
 Like
Norm Fisher

Wow! That is nuts. It's like a small city for sale. :)

Jay, Phoenix must have a brutal sales to listing ratio but I'm curious about the average selling time for those that are drawing offers.

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Daniel Rothamel

13 months of inventory?! That IS rough. We are hovering around the 9-10 month mark here in Central VA.

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Data last updated 5/22/12 10:51 AM PDT.

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