2006 Statistics - Phoenix area Real Estate
We thought you might be interested in some real estate statistics for the Phoenix Metro area. These statistics come from Arizona Regional Multiple Listing Service (ARMLS). Keep in mind that this does not reflect FSBO's, as reliable information on those sales is hard to come by.
For the entire ARMLS area which covers the entire Phoenix Metro area including parts of Pinal County, there were a total of 74,108 sales of single family and condo properties. As of December 31, 2006, there were 41,339 active single family listings and 2932 active condo listings. The number of active listings is down from earlier in the year.
Approximately 39% of all listings in 2006 sold. Considering the frantic sales of 2004-2005 when almost everything sold in a matter of days, this can give you an idea of the work necessary to sell a house at this time. The average days on market in 2006 for single family homes was 66.
These statistics flesh out many of the comments we have made in the past. Sellers need to be aware of the market conditions when pricing their homes for sale. Too often during listing appointments, potential clients say they want to ask for more than we recommend based on a market analysis. These are the listings that end up sitting on the market for months.
We will provide some more area specific stats in upcoming posts.
Adam Tarr, e-Pro
Sharon Kotula, ABR
Your Phoenix Area Real Estate Source
RE/MAX Excalibur
Scottsdale, AZ
480-483-3333
info@WeAreAZRealEstate.com