In case you have not been paying attention, the Phoenix Real Estate market continues to maintain low housing inventory levels and above average appreciation. For over a year now, Phoenix Arizona Homes are hard to find for buyers. At the same time home owners are enjoying nice appreciation on their homes. Here are few numbers to gauge the market:
- Overall Home Supply – At the end of March, the total number of Phoenix Homes for Sale for the entire Phoenix MLS was 16,268. Year over year, this is about a 1% increase in housing inventory. The number of sold listings for the entire month of March is 9,621. Based on the March sales, the inventory of active listings represents a 1.7 month supply. With inventory of homes well under 20,000, the Phoenix market should continue to see appreciation of Phoenix homes.
- Local ZIP code of 85224 – HOT! The Chandler ZIP code of 85224 shows that in March there were a total number of 48 active real estate listings, with the total number of sold listings coming in at 71. In other words: there’s less than a month supply for this popular Chandler ZIP code.
- City of Chandler – EVEN HOTTER! If you are looking for a “starter” home in Chandler, inventory is 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 26. The number of sold listings in March came in at 83. THAT means there is less than a one month supply of homes.
- Phoenix Home Sales –Year to date, the Phoenix MLS recorded sales of 22,102 homes – or an average of 7,367 homes per month. That’s a stellar start for 2013 for Phoenix AZ Realtors and this data shows buyer demand is continuing to be robust.
Do you need to consider a short sale to unload a burden of debt? Or are you looking to maximize your selling price? 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 .