The Phoenix Real Estate Weekly

Scottsdale, Arizona

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The Phoenix Real Estate Weekly 10/16/09

Posted at The Phoenix Real Estate Weekly by Barb Savoy-Pacella

Oct. 16, 2009

Tagged with: arizona, chandler, gilbert, glendale, peoria, phoenix, scottsdale, tempe

Visit our web site at www.PacellaGroup.com to view MLS listings for sale, or for additional information.

What a difference a year makes!

Current Conditions in the Phoenix Market:

* There are 24,495 single family detached homes currently active in MLS. That is an increase of 220 listings compared to last week.

* Total listings (including condos, patio homes, and town homes) currently active in MLS 31,815.

If we compare our current conditions to where we were one year ago, we see a vastly different landscape. We have 42% fewer listings today than we did one year ago.

One year ago, we had 54,693 active listings on the market with only 42% of the inventory selling versus 31,815 today with 64% of listings selling. More realistic pricing may be a contributor if you consider that the average list price per square foot one year ago was $183.00 versus $163.00 today.

Listings pending sale have doubled. One year ago, 6,616 listings were pending versus 13,234 today.

The Northwest and Southeast Valley markets are still seeing the heaviest activity with Scottsdale, Fountain Hills and Paradise Valley lagging behind

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