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

As you may be aware, the Phoenix area is experiencing two dramatically different markets.  Inexpensive homes in areas with an abundance of distressed properties are experiencing an extreme seller's market with multiple offers (on average REO properties are selling for 100.4% of list price); while the high end of the market and areas not as dramatically effected by distress are still in an extreme buyer's market.  

Months of available supply currently in inventory at current sales pace:
Valley wide      4.8 months
Chandler         3.7 months
Fountain Hills 14.4 months
Gilbert             4.2 months
Glendale          2.7 months
Paradise Valley 19.3 months
Peoria               3.6 months
Phoenix             3.5 months
Scottsdale          9.4 months
Tempe              3.9 months  

We are seeing the typical seasonal flattening of the market, however, the demand market has remained under $400,000 which accounts for 94% of the sales.  

Current Conditions in the Phoenix Market:
· There are 23,817 single family detached homes currently active in MLS.  That is a decrease of 59 listings compared to last week.  

· Total listings (including condos, patio homes and town homes) currently active in MLS are 31,035.