Market Update Through January 1, 2013

Here is the Market Update through January 1st, 2013 . Please note that the Valley Wide graph represents all of the MLS. The table below that graph just represents recordings for new and re-sales for Maricopa County. We have added a new bar to the Valley wide graph that shows what the listings are with no AWC’s in them.

Take a look at our comments for the charts:

Total active listings, (with no AWC) have dropped by457 units over the last month. As of January 1st, we sit at 17665 Actives All Property Types. Sales are at 7064for the last 30 days (as of January 1st), up by 244 units from one month ago!  We are currently sitting at a 2.5months of supply, (based on Active listings with no AWC). Pending sales are down from the month before as of January 1st, 8026 vs one month ago at 9170 . Traditionally,  3-4 months of supply indicate a balanced market.  Now is the time to take listings!

December 2012 re-sales and new sales in Maricopa County were 7531 in November 2012 they were 7306. That is a 3% increase from month to month.  December 2011 was 7801. That is a (4.0%) decrease! The median price in Maricopa County for December 2012 was $168,903 in November 2012  it was $167,500. This marks a 1% increase! December 2011 it was $129,054 for a 31%increase!!!! In December 2007 it was $247,405 and in December 2001 it was $143,790! Maricopa County new and Re-sale sales for the year ended with 95,912 sales vs. 201194,771. This equates to a 1.0% increase!

Distressed Market Pie Chart: This chart shows you the percentage of distressed properties that are being listed and sold. Short Sales represent 28% of the closings for the last month, and a .8  Months of Supply.  Distressed Sales (Short Sales and REOs combined) accounted for 40% of the total sales for in the last month. REO property sales equal to 12% of the sales for the last month.  Normal non-distressed sales are now 60% of the total!!!!!!The listing success rate for Short sales is 59% ! Don’t avoid these listings! They are closing with greater success rate!

Check out our new graph! It is the last one! Gives you the average dollar per square foot of solds by month on a line chart going back one year.

Luxury: The Luxury Market of $1.0 Million and above continues to be the lowest absorption rate of any market segment. There was a 7% absorption rate for the last month. Only 71 properties in all of the MLS were sold for more than $1.0 million.