Phoenix market June sales stay strong
The metro Phoenix real estate market continued strong in June. The following stats are provided by ARMLS.
Sales Month over month
June sales jumped up 8.1% to a total of 9,129, representing the fourth highest month over month gain out of the last twelve months. Robust sales over 7,000 occurred in eleven out of the last twelve months, with June being the highest.
SALES Year over Year
June sales of 9,129 fell 17.9% short of the same 2011 sales figure. However, June’s figure is well above (11.66%) the 12 month average of 8,176. It also reflects a typical seasonal uptick between May and June enjoyed for seven out of the last ten years (2002, 2006 and 2007 excepted).
These numbers drive home to the general public what the agents have been seeing. The market is strong and the majority of properties are getting multiple offers, over list price. I have seen many listings on the high side as sellers/flippers are banking on the desparation of buyers who have already put out offers on many properties without getting anything to stick. There are enough cash buyers to buoy this attempt, which will affect values being used for appraisals.
Adam Tarr PC
Citywide Real Estate
Sales Month over month
June sales jumped up 8.1% to a total of 9,129, representing the fourth highest month over month gain out of the last twelve months. Robust sales over 7,000 occurred in eleven out of the last twelve months, with June being the highest.
SALES Year over Year
June sales of 9,129 fell 17.9% short of the same 2011 sales figure. However, June’s figure is well above (11.66%) the 12 month average of 8,176. It also reflects a typical seasonal uptick between May and June enjoyed for seven out of the last ten years (2002, 2006 and 2007 excepted).
These numbers drive home to the general public what the agents have been seeing. The market is strong and the majority of properties are getting multiple offers, over list price. I have seen many listings on the high side as sellers/flippers are banking on the desparation of buyers who have already put out offers on many properties without getting anything to stick. There are enough cash buyers to buoy this attempt, which will affect values being used for appraisals.
Adam Tarr PC
Citywide Real Estate