The Phoenix Real Estate Weekly

Scottsdale, Arizona

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The Phoenix Real Estate Weekly 10/30/09

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

Oct. 30, 2009

To view homes for sale, or for additional information, please visit our web site at www.PacellaGroup.com.

We are not seeing significant changes to where the market activity is taking place. We are still seeing 94% of all properties that are selling listed under $400,000. The greatest activity and least supply is still happening in the West Valley (Peoria and Glendale), as well as the Southeast Valley (Gilbert and Chandler).

Ironically, we are beginning to see some melting of inventory in Fountain Hills and Paradise Valley.

Inventory in Fountain Hills was at a 14.4 month supply of inventory in September and has melted to 9.8 months today.

Paradise Valley was at a 23.5 month supply in September and is at an 18.7 month supply today.

CURRENT CONDITIONS IN THE PHOENIX MARKET:

There are 25,017 single family detached listings actively on the market today. That is an increase of 973 listings this week.

Total listings (including patio homes, town homes and condos) active on the market today is 32, 412.

Absorption rates and months of supply are still varying dramatically from one municipality to another. Please, let me know if you have questions regarding a specific area.

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