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

Our market is changing quickly.  There are currently 12,349 properties pending sale in the Phoenix Metro area MLS.  With the exception of 2005, that is the highest volume of pending sales seen in Arizona real estate history.  We are once again, beginning to see multiple offers on properties. 

This is an amazing market for vacation home purchases, income producing investment/rental property, and of course all of the first time home buyer benefits. 

Kris Price with Homeowners Financial and myself will be conducting first time home buyer workshops throughout the month of April.  If you are interested in attending, please let me know besavoy@msn.com.

Reviewing the Phoenix MLS data for the same period one year ago, pending sales are up 75% this week, and closed escrows are up 62%.  We are continuing to see these percentages increase weekly.

Current Conditions in the Phoenix Market:

Today there are 39,435 single family detached listings actively being marketed in MLS.  That is a decrease of 383 listings over the past week.

Total listings, including condos, patio homes, and townhomes active in MLS today is 49,012.

The overall absorption rate (the number of listings going pending versus the number of active listings on the market) has increased to 17% this week.