Here’s another example of how local real estate is. The news keeps reporting on the recovery of the Phoenix Metro real estate market, and it’s true, we have a very active market. However, from the charts below, you can see that, by city, there are some striking differences, particularly in Scottsdale. In the City of [...]
From the category archives:
Phoenix Metro
Listen to Jim Sexton, Designated Broker of Realty One Group, share his real estate market insights for March 2012. Some of his notable quotes: “Hot, hot, hot” “I could sell houses if I could find them, if they were on the market” “2 months supply of inventory” “Look for a continued strong market” “Absolute positive [...]
From Michael Orr at the Cromford Report: The short supply of homes for sale in the Phoenix area is getting more severe. March 29 – The supply shortage is getting increasingly severe as new listings are now being added to ARMLS at the slowest seasonal rate since the current ARMLS database began in 2000. This [...]
From the Cromford Report: March 8 – As home prices rise at an accelerating rate, we today hit $125,000 for the monthly median sales price (all areas and types) for the first time since August 12, 2010. The lowest monthly median recorded was $107,000. This was measured on February 24, 2011 and again on August [...]
I love the succinctness of Michael Orr, founder of the Cromford Report. From his Daily Observations (available only subscription): February 18 – If you find yourself talking to someone who thinks prices are still falling, please feel free to hand them this chart. According to my calculator, a median price increase from $108,000 to $120,000 [...]
The Arizona Regional MLS (ARMLS) publishes a monthly view tracking REALTOR® confidence of Phoenix Metro real estate market confidence, as compared to the past and to future expectations. The results of this survey are the result of “the firsthand, up close observations of REALTORS® who operate at the front line of real estate in the [...]
A quick overview of key real estate indicators shows that overall 2011 was definitely a step in the right direction for Phoenix metro real estate. Total sales exceeded 100,000 transactions up, exceeding our last “normal” years in 2002, 2003, and 2004. Total new listings of 121,041 also approached the pre-boom years. Months supply of inventory [...]
