Please visit our web site at www.pacellagroup.com for additional information,or to view properties for sale.

According to the Cromford report, "pricing is always the last indicator to turn around in a market recovery, and we can see evidence in the average pending price per square foot numbers that the average sales price per square foot pricing may hit a low point in the third week of April with the increasing possibility of a rise occurring in May. "

We are once again seeing multiple offers on a properties, which we have not seen much of since the third quarter of 2005.

Reviewing the MLS data for the same period one year ago, pending sales continue to climb and are at an 82% increase over this time period last year. Closed transactions are up 66% over this time period last year.

Kris Price of Homeowner's Financial Group, and myself, an Accredited Buyer Representative will be conducting complimentary first time home buyer workshops during the month of April. Visit the web site at www.pacellagroup.com and click "information request" to get workshop times and reserve seats.

Current Conditions in the Phoenix Market:

Today, there are 35,258 single family detached listings actively being marketed in MLS. That is a decrease of 1354 listings since last week. Valley wide inventory is at a six month supply, which would indicate a balanced market, but the inventory from one municipality to another varies. Please, contact us if yu would like information regarding a specific area of the Valley.

Total listings, including condos, patio homes, and townhomes, active in MLS today is 44,405.

The overall absorption rate (the number of sales going pending versus the number of active listings on the market) Valley wide has held steady at 20% this week, with some areas experiencing higher levels of absorption, and others lower levels.

If you hae any questions regarding our market, or opportunities to take advantage of it, we would be delighted to be of assistance.