Residential Market Update

Transcription

1 Residential Market Update 2016 Volume 3 Information Proudly Provided by your Business Development Managers: Nancy Pierson Biltmore / nancyp@eta-az.com / Maggie Clark Scottsdale / maggiec@eta-az.com / De Payne Tempe / depayne@eta-az.com / Marie Barron Northwest / marieb@eta-az.com / Joanna Carson Mesa / joannac@eta-az.com / Marcee Nash Sun City / marceen@eta-az.com / Adrienne Constantinou Chandler / adriennec@eta-az.com / Sherry Olnhausen Surprise-Sun City / sherryo@eta-az.com / If you like the services we provide, please write EQUITY TITLE AGENCY on Line 98 of your next contract!

2 Residential Market Update Dear Valued Client, Here is the Market Update through July 17 th, Please note that the Valley Wide graph represents all of the MLS. The table below that graph represents recordings for new and re-sales for Maricopa County. Active Listings and Sales: Total active listings (with no UCB/AWC) have gone down by 604 units over the last month. As of July 17th we sit at 20,335 actives all property types. Sales are at 8,367 for the last 30 days (July 17th), down by 868 units from one month ago! We are currently sitting at a 2.4 months of supply, (based on Active listings with no UCB/ AWC). Pending sales are down from the month before as of July 17th 8,367 vs. one month ago at 9,236. Traditionally, 3-4 months of supply indicate a balanced market. June re-sales and new sales in Maricopa County were 10,285. In May they were 9,898. June of 2015 was 9,747 this is a 6% increase in year over year. June was the largest unit sales month since 2006! Now is the time to BUY, interest rates are at historic lows!!! Absorption rate: Absorption rate is the percent of sales that are sold each month of the inventory. A higher percent means that inventory is moving at a faster rate, and thus is a Seller's market. The total absorption rate is 34%. Certain areas of town have higher absorption rates, they are: Northwest Valley 51% Peoria and Glendale 42% Desert Ridge 43% South East Valley 42% South West Valley 46% Median Price: The median price in Maricopa County for June 2016 was $240,000. May 2016 it was $237,000. In June of 2015 it was $220,603 for a 9.0% increase!!!! In June 2010 it was $141,000 and in June 2005 it was $237,000! Real Estate is still a good investment! Prices have risen by 102% since August 2011 which was the bottom of the Market! Luxury: The Luxury Market of $1.0 Million and above continues to be the lowest absorption rate of any market segment. There was an 8% absorption rate for the last month. There were 128 properties in all of the MLS were sold for more than $1.0 million. It does take longer to sell a home that is over $1.0 Million. MONTHS OF SUPPLY (with AWC listings) (Single Family Only) Northwest: 2.0 Paradise Valley: 16.1 Luxury ($1mil+): 12.7 Southwest: 2.2 Peoria/Glendale: 2.4 Camelback Corridor: 3.9 Cave Creek: 5.5 Ahwatukee: 2.8 Scottsdale: 5.3 Apache Junction: 3.2 Fountain Hills: 5.6 Buckeye: 5.6 Desert Ridge & Tatum Corridor: 2.8

3 Valleywide Comparison June 17th, 2016 to July 17th, 2016 Yearly Market Analysis Year Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. Nov. Dec. Totals ,933 9,602 13,145 11,039 12,321 12,599 10,200 10,703 9,833 10,180 9,253 9, , ,414 7,732 9,572 8,471 8,889 8,299 7,592 7,125 5,688 5,971 5,611 5,883 89, ,387 4,574 5,359 5,963 6,488 6,462 6,784 6,139 6,720 6,594 4,684 6,082 70, ,753 5,433 7,552 8,156 8,687 9,614 9,234 7,696 8,001 8,163 7,488 7,827 92, ,549 6,158 8,657 8,955 8,536 9,353 6,843 6,530 6,653 6,245 6,328 6,991 86, ,165 6,520 9,212 8, , ,581 8,545 8,937 8,394 8,050 8,257 7,030 7,895 7,306 7,531 95, ,462 7,073 8,658 9,032 9,703 8,512 8,744 7,965 7,084 7,086 5,943 6,686 88, ,496 6,029 7,331 8,195 8,208 7,855 7,443 7,203 6,930 6,927 5,614 7,187 84, ,319 6,163 8,580 8,957 9,066 9,747 9,024 8,003 8,160 7,474 6,280 8,246 95, ,007 6,872 9,639 9,658 9,898 10,285 52,359

4 Valleywide Distressed Properties Comparison Valleywide Distressed Properties Comparison Active Properties Sold Properties Valleywide Information deemed reliable but not guaranteed

5 East Valley Comparison June 14th, 2016 to July 14th, 2016 Cities: Tempe, Mesa, Gilbert, Chandler Single-Family residences Breakdown by City Information deemed reliable but not guaranteed SE Valley ACTIVE PENDING SOLD Tempe 7/14/ Mesa 7/14/16 1, Gilbert 7/14/16 1, Chandler 7/14/16 1, TOTAL 4,124 1,459 1,725

6 Northwest Valley Comparison June 16th, 2016 to July 14th, 2016 Cities: Sun City, Sun City West, Surprise Information deemed reliable but not guaranteed Breakdown by City: NW ACTIVE PENDING SOLD Sun City 7/14/ Sun C W 7/14/ Surprise 7/14/ TOTAL 1,

7 Paradise Valley Comparison June 16th, 2016 to July 14th, 2016 City: Paradise Valley Single Family Residence ACTIVE PENDING SOLD PV 7/14/

8 Luxury Comparison June 1st, 2016 to July 1st, 2016 Luxury properties include those listed at $1,000,000+ Information deemed reliable but not guaranteed Luxury ACTIVE PENDING SOLD 1-1.5mil 7/1/ mil 7/1/ mil 7/1/ mil 7/1/ TOTAL 1,

9 Southwest Valley Comparison June 16th, 2016 to July 14th, 2016 Data used: Cities: Goodyear, Litchfield Park and Avondale Information deemed reliable but not guaranteed Breakdown by City: SW ACTIVE PENDING SOLD Litch 7/14/ Good 7/14/ Avon 7/14/ TOTAL

10 Peoria/Glendale Comparison June 14th, 2016 to July 14th, 2016 Data Used Cities: Peoria and Glendale Information deemed reliable but not guaranteed Breakdown by City: P/G ACTIVE PENDING SOLD Peoria 7/14/ Glendale 7/14/ TOTAL 1,

11 Camelback Corridor Comparison June 1st, 2016 to July 1st, 2016 Zip Codes: 85016, 85018, Single Family Residence Information deemed reliable, but not guaranteed Cback Corr ACTIVE PENDING SOLD /1/ /1/ /1/ TOTAL

12 Cave Creek Comparison June 16th, 2016 to July 14th, 2016 City: Cave Creek Single Family Residence Information deemed reliable, but not guaranteed Cave Creek ACTIVE PENDING SOLD 7/14/

13 Ahwatukee Comparison June 1st, 2016 to July 1st, 2016 Ahwatukee Zip Codes: 85044, 85045, Breakdown by Zip Code: Ahwat ACTIVE PENDING SOLD /1/ /1/ /1/ TOTAL

14 Scottsdale Comparison June 16th, 2016 to July 14th, 2016 City: Scottsdale Information deemed reliable but not guaranteed ACTIVE PENDING SOLD Scotts 7/14/16 2,

15 Apache Junction Comparison June 16th, 2016 to July 14th, 2016 City: Apache Junction Information deemed reliable but not guaranteed ACTIVE PENDING SOLD AJ 7/14/

16 Fountain Hills Comparison June 16th, 2016 to July 14th, 2016 City: Fountain Hills Information deemed reliable but not guaranteed ACTIVE PENDING SOLD FH 7/14/

17 Buckeye Comparison June 16th, 2016 to July 14th, 2016 City: Buckeye Information deemed reliable but not guaranteed ACTIVE PENDING SOLD Buckeye 7/14/

18 Desert Ridge/Tatum Corridor Comparison June 1st, 2016 to July 1st, 2016 Zip Codes: 85032, 85050, Breakdown by Zip Code Desert Ridge/ North Phoenix ACTIVE PENDING SOLD /1/ /1/ /1/ %

19 Monthly Average Sales Price per Square Foot Greater Phoenix Area Information deemed reliable but not guaranteed Feb-16 $ Mar-16 $ Apr-16 $ May-16 $ Jun-16 $ Jul-16 $139.61