As you may know I specialize in the luxury markets of Paradise Valley, Scottsdale and Carefree. Mixed with some cool condo’s in Phoenix and some other luxury pockets. These markets are the exception rather than the norm in terms of the market.
While browsing the Arizona Regional Multiple Listing Service (ARMLS) this morning. It’s what we do early on Sunday mornings. I was struck with just how big the ARMLS coverage area is. I know Phoenix metro is in a flip flopping battle with Philadelphia for Armerica’s 5th largest city, but the number really are massive.
There are markets in Arizona not covered by ARMLS but it’s is by far and a way the biggest and does have the majority of Arizona homes for sale covered. Give or take a few FSBO’s.
Arizona Real Estate Statistics
Homes For Sale ( Active, Under Contract, Pending): 36,182
Total List Volume $10,114,450,927
So that’s more than 36,000 people or entities in the process of selling over $10 billion worth of real estate. Pretty big. Although less than the $13 million gross profit made in the 4th quarter of 2011.
The average square foot of homes for sale is 2,149. That means there are 77,755,118 square feet on the market. That’s just over 1,758 acres of internal square feet for sale.
Real estate is big in Arizona. Big numbers. But of course each story of those 36,182 potential sales has a story. A couple upsizing expecting a new baby, a marriage, a divorce, a first home, or second, or third.
So while the numbers are big. Very big. Each sale or listing is just one persons story. A single decision to buy or sell.
If you are thinking to buy you can begin your Arizona real estate search here.
Thinking to sell in Arizona? Because it’s such a big market I can’t help all sellers. Real estate is better served when you work with a local expert, but give me a call wherever you live and I’ll be happy to chat about your needs and maybe find you a great agent if I can’t help.