December 2011 stats Phoenix metro
Hi,
December saw a solid finish to the year with 7816 recorded sales in December. This figure was almost 9% higher than November, but actually approximately 5% less than December of 2010. There are some pleasing annual statistics to consider; Total residential sales for 2011 finished at 101006 for all areas, up over 12% from 2010's 90115. Inventory levels for December were down to 58% of the inventory level from the same month in 2010. Current active residential inventory is 24741 (1/2/12). Average sale price in December was $161,919. The average days on market was 95. There is currently 3.34 months worth of inventory available.
Phoenix had 2033 sales with an average sale price of $129,395 while Scottsdale recorded 587 sales with an average sale price of $381,397. Current active listigs are 5008 and 2907 respectively. Many REO properties see listings under contract in under 14 days. The total days on market may be skewed by the AWC (Active with Contingency) status that is used on Short Sales. The days on market continue to accrue during the short sale negotiation thereby increasing the average.
Overall, the market continues to show signs of stabilization and considering the December sales pricing figure was up 2.9% over November, the expectation is that we will continue to see relative strength in the market barring major blows to the economy.
All figures above were for residential sales across all areas within the ARMLS, unless otherwise specified.
Adam Tarr PC
Citywide Real Estate
Phoenix, AZ
480-236-7374
adam@WeAreAZRealEstate.com
December saw a solid finish to the year with 7816 recorded sales in December. This figure was almost 9% higher than November, but actually approximately 5% less than December of 2010. There are some pleasing annual statistics to consider; Total residential sales for 2011 finished at 101006 for all areas, up over 12% from 2010's 90115. Inventory levels for December were down to 58% of the inventory level from the same month in 2010. Current active residential inventory is 24741 (1/2/12). Average sale price in December was $161,919. The average days on market was 95. There is currently 3.34 months worth of inventory available.
Phoenix had 2033 sales with an average sale price of $129,395 while Scottsdale recorded 587 sales with an average sale price of $381,397. Current active listigs are 5008 and 2907 respectively. Many REO properties see listings under contract in under 14 days. The total days on market may be skewed by the AWC (Active with Contingency) status that is used on Short Sales. The days on market continue to accrue during the short sale negotiation thereby increasing the average.
Overall, the market continues to show signs of stabilization and considering the December sales pricing figure was up 2.9% over November, the expectation is that we will continue to see relative strength in the market barring major blows to the economy.
All figures above were for residential sales across all areas within the ARMLS, unless otherwise specified.
Adam Tarr PC
Citywide Real Estate
Phoenix, AZ
480-236-7374
adam@WeAreAZRealEstate.com