Based on MLS SOLD data comparisons for July 2010 versus July 2009, Phoenix Real EstateSales volume is DOWN 29%, the Average SOLD price is UP 5.4% and the average Days On Market has to find the buyer DECREASED from 105 days to 89 days.
The average July 2010 sales price as compared to the previous month for Single Family Detached Phoenix homes for Sale AZ is DOWN to $150,313 and the average sales price for Phoenix Condos/Lofts/Town homes for sale AZ is DOWN to $73,491.
With an average time on market of 3 months and 8742 properties on the market for sale at the current absorption rate, a 4.8 month supply of Phoenix homes AZ indicates Phoenix is a Seller's market and as a result the average sales price increased 5%. AZ Phoenix homes are in high demand because they more affordable than many of the outlying areas and offer a shorter commute to work.
Owners of Phoenix homes are well advised to do all repairs and spruse up and update older homes with new appliances, paint and carpet and stage your home for success.
Phoenix home buyers will find more Phoenix homesand AZ foreclosures for sale than in the outlying areas simply because of the sheer size of Phoenix dwarfs other communities. You will also have a shorter commute buying one of the homes in Phoenix than you would in the outlying areas with lower commuting costs. Take your time and find a well-maintained, affordable and, most likely, older home and your home will increase in value. Phoenix is going through a renaissance and should be seriously considered as a good place to live and invest.
Want to learn why Phoenix is a great place to call home? Contact me at 480-213-1799 or via email at Sam@SamElam.com
Phoenix Real Estate Market Statistics Affecting Phoenix Homes for Sale AZ during July 2010
Statistical Market Analysis
Status
# Listings
List Volume
Sold Volume
List Price
Sold Price
Sale/List Price
Agent Days On Market
Cumulative Days On Market
Active
8,742
1,701,176,909
0
Low Avg High
8,000 194,598 10,990,000
0 0 0
0.00 0.00 0.00
0 103 1,651
0 118 1,651
AWC-Seller Written Instructions
1,203
175,979,443
0
Low Avg High
12,000 146,284 1,400,000
0 0 0
0.00 0.00 0.00
0 129 826
0 135 822
AWC-Existing Option to Purchase
12
3,586,699
0
Low Avg High
28,000 298,892 1,499,999
0 0 0
0.00 0.00 0.00
14 186 402
9 236 886
AWC-Contingent Offers
375
50,512,156
0
Low Avg High
10,000 134,699 2,799,000
0 0 0
0.00 0.00 0.00
6 135 1,124
0 140 1,123
Pending
2,616
348,416,767
0
Low Avg High
6,200 133,187 1,450,000
0 0 0
0.00 0.00 0.00
0 65 1,175
0 80 1,175
Closed
1,816
250,799,654
242,856,928
Low Avg High
4,000 138,106 2,100,000
1 133,732 1,800,000
0.00 0.99 10.00
0 72 1,141
0 89 1,137
Overall
14,764
2,530,471,628
242,856,928
Low Avg High
4,000 171,395 10,990,000
0 95 1,651
0 110 1,651
Versus
Phoenix Real Estate Market Statistics Affecting Phoenix Homes AZ SOLD during July 2009
Phoenix covers more than 514 square miles and has a population of 1.4 million, ranking it the fifth largest city in the country.
Phoenix is a premier destination, with more than 300 sun-filled days a year and average temperature of 72.6 degrees. That accounts for everyone's "sunny disposition" here.
More than 50 percent of the population is between 18 and 54 years of age, which is younger than the national average.
In January 2000, after a yearlong, in-depth study of management efficiency by the Maxwell School of Citizenship and Public Affairs at Syracuse University, Phoenix was the only city among the nations 35 largest urban centers to earn an overall grade of A. Phoenix also was named the Best Run City in the World in 1993 by the Carl Bertelsmann Foundation and has earned numerous other awards for efficient government operations.
The greater Phoenix area is a $50 billion marketplace driven by technology. World-leading companies such as Intel, Avnet, Motorola, Allied Signal, Honeywell and Boeing Company have chosen Phoenix for their corporate and regional headquarters.
Industry giants such ST Microelectronics STMicroelectronics, American Express, Phelps Dodge, Sumitomo Sitix, Prudential, Charles Schwab and Julyo Clinic have major operations in Phoenix.
Phoenix Sky Harbor International Airport is the fifth busiest in the U.S. and the world for passenger traffic for takeoffs and landings, handling more than 36 million travelers in 2000.
The airport serves more than 100 cities with non-stop flights, and British Airways, Air Canada and Lufthansa are among carriers providing international flights to destinations such as London, Toronto, Mexico and Frankfurt, Germany.
Bonds and Taxes
Standard & Poor's (bond rating)
AA+
City sales tax rate
1.8%
City property tax rate (Per $100 of assessed valuation)
$1.82
Aviation
Number of airports
3
Passengers enplaned and deplaned
35,500,000
Takeoffs and landings 2001 (includes general aviation)
561,000
Sam Elam Phoenix Real Estate Agent and Associate Broker Full time Phoenix REALTOR® since 1990 ABR, CRS, GRI, e-PRO Prudential Arizona Properties 3701 E. Baseline Road, Suite F-102, Gilbert, AZ 85234
(480) 213-1799 Cell (480) 467-4900 Office (800) 592-3360 Toll Free Email Samyour Phoenix real estate questions for expert advice.
For expert guidance with your next real estate transaction, call Sam at 480-213-1799 Phoenix Real Estate Agent and Arizona Real Estate Broker Full time real estate professional since 1990
Email Sam your Phoenix real estate questions for expert advice.