Real Estate Market Update — 2015

Real Estate UpdatesThe Phoenix summer temperature is heating new highs. The Phoenix real estate market is heating up also. Buyer activity is brisk and interest rates remain low. Here are a few highlights!

  • Overall Home Supply – Year to date, the total number of Phoenix Homes for Sale for the entire MLS is 24,182. Year over year, this is a decrease in housing inventory of 4,638 units or a decrease of 16.1%. So, active listing inventory is seeing a large reduction since 2014. With monthly sales of listings being around 8,282, the total supply of listings represents a supply of 2.92 months. With tight supply of homes, sellers should be seeing good appreciation on their Phoenix Homes.
  • Local ZIP code of 85224 – The Chandler ZIP code of 85224 shows a total number of 80 active real estate listings, with the total number of sold listings for the recent month at 61 homes. In other words: there is about a 1.3month supply for this popular Chandler ZIP code.
  • City of Chandler –If you are looking for a “starter” home in Chandler, inventory remains low. For the entire city of Chandler, the number of active listings for single family homes between 1,200 and 1,500 square feet is 50. The number of sold listings for the last month is 71, meaning that there is about a 0.07 month supply of starter homes in Chandler
  • Phoenix Home Sales –Year to date, the Phoenix MLS recorded sales of 35086 homes – or an average of 7017 homes per month. That puts the Phoenix market on pace to sell over 80,000 homes for 2015.

Do you need to make a move in the near future? Here at the Thompson Group, our goal is to show you the BEST options for your situation. Give us a call at 480-776-5214 or find us at www.ThompsonGroupAZ.com .

 

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