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 [...]
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phoenix real estate market
Look at this chart for a striking view of the amazing free fall of total home inventory in Phoenix during 2011. The heavier line shows that from a high of 42,881 in January to a low of 24, 712 in December, housing inventory has dropped over 40%. No wonder buyers are saying things like, “I [...]
The November Cromford Report Monthly Market Review started off with the following summary for the Phoenix real estate market for single family housing: In every price range, sales prices in $/SF are now higher than a year ago. Inventory is still falling below $200,000 and constraining sales volumes. Above $200,000, supply is rising and demand remains [...]
In a nutshell: 10,500+ closings in June 2011. An ALL-TIME record. Both median and average prices are up. 11% over last year year-to-date Watch Jim to get the rest of the story! More evidence of the hot Phoenix real estate market: Average Sales Price for Phoenix Homes Stable and Climbing Phoenix Real Estate Market Heats [...]
Our Phoenix Metro real estate markets have been much more vibrant than most of the rest of world has realized. Ask anyone currently looking to purchase home listed at under $250,000. The chart above shows just small the supply is for homes in the lower price ranges. Less than 3 months supply in many cases. [...]
Here in the greater Phoenix area, we are very fortunate for have Michael Orr, real estate statistician extraordinaire and creator of the Cromford Report. As a Realtor working in the area, I have access to an amazing amount of data that Mike has synthesized, which documents what I’m seeing on the street, or helps me [...]
The media talks about the hot Phoenix real estate market, yet most home sellers I meet are still operating from a perspective that no one is buying homes these day, because the market is so bad! However, any home buyer will tell you, it’s a battle out there. Multiple offers are common in the lower [...]
