Visit our web site at www.pacellagroup.com to view homes for sale, or for additional information.

Inventory levels are not changing dramatically, but pending sales figures are still strong, indicating that new listings are coming onto the market more quickly than in previous months.

Foreclosures make up 14% of our currently available inventory.  According to the Cromford Report, foreclosures make up 53% of the sold inventory, as opposed to 68% in February, and the average list price per square foot on foreclosed properties has risen 12% since March.

Comparing year over year data, closed transactions are up 58% over the same time period last year, and pending sales are up 35%.

Current Conditions in the Phoenix Market:

There are 25,042 single family detached listings actively being marketed in MLS.  That is a decrease of 297 listings from last week.

Total listings, including condos, patio homes, and townhomes active in MLS today is 32,644.

The Valley wide absorption rate (the number of listings pending sale versus the number of listings actively available) is holding steady at 35%.

The absorption rate is varying throughout the Valley.  For information regarding a specific area in Metro Phoenix, please contact us at www.pacellagroup.com.