Yahoo published an article today "What Your Home Will Be Worth in 2012". (Thanks for the heads-up, Greg!) The Phoenix forecast seems unlikely to me. Metro: Phoenix-Mesa-Scottsdale What a Home Will Be Worth in 2012: $141,859 Q4 2008 price: $169,000 Projected price change by MSA: -16.1% Projected price change by state: -17.2% What do you [...]
June 2009
Mike Orr from the Cromford Report knows Phoenix area real estate market statistics better than most anyone at this point. He just published his mid-month update and there are some very notable changes in our market. I’ve clipped some of the most interesting information to share with you. Mid-Month Pricing Update Each month about this [...]
More evidence of our changing real estate market: The Cromford Report has defined Contract Ratio as follows: Contract Ratio indicates how "hot" a market it. It specifically measures the number of active sales contracts under negotiation relative to the supply of active listings. It is defined as 100 x (Pending Listings + Active Listings with [...]
Here’s the latest “Good News” from the Cromford Report: On June 20, 2009 for “all areas and types” we recorded a Monthly Median Sales Price of $124,000, up 7.8% from the $115,000 we recorded on April 30. This is for ALL ARMLS listings and all types of dwellings, so it represents the median across this [...]
Realtors often say things like “Location, location, location”, and “Real estate is local”. Comparing Phoenix and Scottsdale real estate stats really is like comparing apples to oranges, but I’m going to do it anyway. A few facts: Phoenix covers a much larger area, 517 square miles, as compared to Scottsdale’s 184 square miles. Phoenix has [...]
