Phoenix Real Estate Market News Data and Trends Real Estate Report

August, 2013

Current Average Sales Price – $239,481,
Average Days On Market – 65 for average agents… 49 for The Jason Dawson Team!

 

If you’re considering selling your home– you may have equity that you didn’t know about! Contact us for a FREE Home Value Report!

Active  Listings, 16,855

Equity, 15,297 (91%); Short Sale, 708 ( 4%); REO, 778 (4.6%); HUD, 72 (.04%)

New Listings 7/1-7/31/13,8,975  vs 8,867 ’12  vs 9,261 ’11.

UCB/Pending, 11,550

Equity, 7,024; Short Sales, 3,551; REO, 560; HUD, 415

Sold, 7/1-7/31/2013, 8,182 vs 7,123,2012,  an increase of 15% year-over-year. Equity, 6,479 (74% vs 56%, ’12); Short Sale, 992 (12% vs 29%, ’12); REO, 513 (6% vs 11.5% ’12); HUD, 198 (2.5% vs 4%, ’12).  CASH, 36% vs 45%, ’12

Sold Year to Date, 1/1-7/31/13, 54,779; Equity, 41,348 (75.5%); Short Sale, 7,157 (13%); REO, 4,761 (8.7%); HUD, 1513 (3%) CASH, 40%

Notes from Cromford Report

8/1/2013 Avg $$ p/sqft $119. vs $99,8/1/12,  an increase of 20.6%

8/1/2013 Median Price: $185,000. vs $148,000.8/1/12,  an increase of  27%

Is there a decline in demand in the works??

1)  Incremental increases in Active listings.

2)  Rising prices.

3)  Higher mortgage rates.

4)  Dramatic decrease/scarcity of distressed properties at bargain prices.

5)  Some investors/flippers leaving the market.

New Home Construction falling short of projections: New build starts for 2013 were projected to be in the range of 16,000 for 2013; the number will more likely be in the range of 13,000. Chief reason cited is shortage of skilled labor supply.

If you’re considering selling your house or investment properties, or for more information about the Phoenix Real Estate Market News, please contact Realtor Jason Dawson at 480.442.9809 or contact us online!

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