I keep a running spreadsheet of some specific Maricopa County MLS stats, and today I was comparing January 4th, 2007 with today. It’s a different picture, that’s for sure.
|
Date |
Active Listings |
Vacant |
Contracted Listings |
|
1-4-2007 |
36,425 |
17,219 |
4,969 |
|
1-4-2008 |
45,653 |
22,884 |
3,233 |
From this data, I’ve calculated that:
- The number of homes for sale is up 25% from this same date last year.
- Last year, 47% of the Maricopa County home listings were vacant, and today it’s 50%.
- Homes under contract are down 35% this year.
- The ratio of homes contracted to actively listed has dropped from 1:7 to 1:14.
I was relieved to see that the percentage of vacant homes had not increased significantly, although there now more than 5,000 additional vacant homes on the market. While it would be nice to be able to draw some conclusions and make a forecast from these numbers, really these statistics just confirm what most buyers and sellers already know…. it’s a buyer’s market.
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