ARMLS the multiple listing service provider for the Phoenix metro area publishes a monthly statistics newsletter called STAT.
If you read this blog often you will know I like to produce my own statistics by analyzing the MLS data but it’s always useful to check out how other people read and interpret data.
Highlights From Phoenix Real Estate Market Data For September
SALES Year over Year
The September sales figure (7,892) was 16.7% higher than the September 2010 figure (6,764). The 2010-2011 sales figures follow a similar wave pattern of 2009-2010, although with higher values. All in all sales are up and in line with predictable seasonal fluctuations.
September sales are traditionally slow. But the fact that there were 16.7% more sales this year than last year shows promise.
NEW LIST PRICES
September’s median new list price increased 4.9% to $131,000, the highest median list price since June 2010. The average new list price was $210,800, the highest since October 2010. While these increases are minimal, they are tilting in the right direction. For a market whose pricing has flat lined, an upward tilt is perhaps a harbinger of better pricing to come. A tilt is not a trend, but just a glimmer of hope.
WHen list prices rise it shows more confidence among sellers and REALTOR’s that homes can achieve higher prices. This confidence comes from lowering inventory and specifically lower inventory of distressed properties for sale.
Read the full published statistics in STAT along with ARMLS’s take on the numbers.