Market Update through March 31st 2016

Dear Agents,
Here is the Market Update through April 4th, 2016. Please note that the Valley Wide graph represents all of the MLS. The table below that graph represents recordings for new and re-sales for Maricopa County.
Because there are less swings in the Market we have decided to update you once per quarter. This is through April 4th and the next market update will be through July 1st!
We also offer a Market Update Book for you to use at listing appointments, Open Houses or with Buyers. They are printed in full color!!! Just let me know how many you would like and we will bring them by your office. This will be Volume 2 2016.
Tip: These are great to use when managing your clients expectations. Point out the absorption rate by area to let them know how fast things are selling!
My Comments are:
Active Listings and Sales: Total active listings, (with no UCB/AWC) have gone down by 646 units over the last month. As of April 4th we sit at 22,482 actives all property types. Sales are at 8,236 for the last 30 days (April 4th), up by 2,245 units from one month ago! We are currently sitting at a 3.4 months of supply, (based on Active listings with no UCB/AWC). Pending sales are up from the month before as of April 4th 7,679 vs. one month ago at 7441. Traditionally, 3-4 months of supply indicate a balanced market. March re-sales and new sales in Maricopa County were 9639. In February they were 6,872 . March of 2015 was 8,580 this is a 12% increase in year over year.
Absorption rate: Absorption rate is the percent of sales that are sold each month of the inventory. A higher percent means that inventory is moving at a faster rate, and thus is a Seller’s market. The total absorbtion rate is 30%. Certain areas of town have higher absorption rates, they are:
• Northwest Valley 38%
• Peoria and Glendale 33%
• Desert Rigde 30%
• Apache Junction 30%
Median Price: The median price in Maricopa County for March 2016 was $229,000 in February 2016 it was $225,000. In March of 2015 it was $211,320 for an 8.0% increase!!!! In March 2010 it was $138,000 and in March 2005 it was $206,192!
Tell your buyers that Real Estate is a great investment! Median Prices have risen by 93% since August 2011 which was the bottom of the Market!
The last graph 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 5% absorption rate for the last month. There were 105 properties in all of the MLS were sold for more than $1.0 million.
Please click on the link below to take you to the Graphs. You can save/print/email them from there! Use these with all of your clients, as a newsletter and at open houses! Everyone wants to know what is happening in Real Estate – Be the authority!! Remember that you can always go to www.eta-az.com and click on Sales and Marketing then Market Update for this info as well!

Equity Title has great marketing tools and programs to help you get more business – call us to set up an appointment! 602-769-8226

MONTHS OF SUPPLY (with AWC/UCB listings) (Single Family Only)
South East Valley: 2.9
Northwest: 2.6
Paradise Valley: 19.3
Luxury ($1mil+): 20.1
Southwest: 3.8
Peoria/Glendale: 3.0
Camelback Corridor: 5.6
Cave Creek: 6.3
Ahwatukee: 6.1
Scottsdale: 7.1
Apache Junction: 3.3
Fountain Hills: 7.0
Buckeye: 3.8
Desert Ridge & Tatum Corridor: 3.8
Sincerely,
Tom Diller
VP- Director of Business Development

Click For Market Guide

Market Update Through July 3, 2014

Here is the Market Update through July 3rd, 2014. 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.

Because there are less swings in the Market we have decided to update you once per quarter. This is through June and the next market update will be through September!

We also offer a Market Update Book for you to use at listing appointments, at Open Houses or with Buyers. They are printed in full color!!! Just let any of our Business Development Mangers know how many you would like and we will bring them by your office. This will be Volume 2 2014.

Tip: These are great to use when managing your clients expectations. Point out the absorption rate by area to let them know how fast things are selling!

The Comments are:

Active Listings and Sales:Total active listings, (with no UCB/AWC) have gone down by 896 units over the last month. As of July 3rd we sit at 24,388 actives all property types. Sales are at 7389 for the last 30 days (July 3rd), up by 177 units from one month ago! We are currently sitting at a 3.3 months of supply, (based on Active listings with no UCB/AWC). Pending sales are down from the month before as of July 3rd, 6481 vs. one month ago at 7082. Traditionally, 3-4 months of supply indicate a balanced market. June re-sales and new sales in Maricopa County were 7855. In May 2014 they were 8208 . June 2013 was 8512 this is an 8% decrease in year over year.

Absorption rate: Absorption rate is the % of sales that are sold each month of the inventory. A higher percent means that inventory is moving at a faster rate, and thus is a Seller’s market. Certain areas of town have very high absorption rates, they are:

Northwest Valley 38%
Peoria and Glendale 33%
Apache Junction 32%
Desert Ridge 30%
Median Price: The median price in Maricopa County for June 2014 was $209,000 in May 2014 it was $202,000. In June of 2013 it was $193,085 for a 5% increase!!!! In June 2007 it was $257,000 and in June 2001 it was $142,000!

Distressed Market Pie Chart: This chart shows you the percentage of distressed properties that are being listed and sold. Short Sales represent 4% of the closings for the last month. Distressed Sales (Short Sales and REOs combined) accounted for 10% of the total sales for in the last month. REO property sales equal to 6% of the sales for the last month. Normal non-distressed sales are now 90% of the total!!!!!

The last graph gives you the average dollar per square foot of solds by month on a line chart going back one year. Prices have risen by 35% since June of 2012!

Luxury: The Luxury Market of $1.0 Million and above continues to be the lowest absorption rate of any market segment. There was a 9% absorption rate for the last month. There were 118 properties in all of the MLS were sold for more than $1.0 million.

Please click on the link below to take you to the Graphs. You can save/print/email them from there! Use these with all of your clients, as a news letter and at open houses! Everyone wants to know what is happening in Real Estate – Be the authority!! Remember that you can always go to www.eta-az.com and click on Sales and Marketing then Market Update for this info as well!

Equity Title has great marketing tools and programs to help you get more business – call any of our Business Development Managers to set up an appointment!

MONTHS OF SUPPLY (with AWC/UCB listings) (Single Family Only)

East Valley: 3.0

Northwest: 2.6

Paradise Valley: 8.6

Luxury ($1mil+): 11.3

Southwest: 4.1

Peoria/Glendale: 3.1

Camelback Corridor: 4.2

Cave Creek: 5.0

Ahwatukee: 3.7

Scottsdale: 4.7

Apache Junction: 3.1

Fountain Hills: 6.7

Buckeye: 3.5

Desert Ridge & Tatum Corridor: 3.4

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Market Update Through August 11, 2013

Here is the Market Update through August 11, 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.

These graphs are put into a Market Update Book for you to use at listing appointments, at Open HOuses or with Buyers. They are printed in full color!! Just let any of our Business Development Managers know how many you would like and we will get them to your office.

This is Volume 6 for 2013.

The comments are:

Active Listings and Sales: Total active listings (with no UCB/AWC) have gone up by 1364 units over the last month. As of August 11th, we sit a 17,333 actives all property types. Sales are at 7820 for the last 30 days (as of August 11th), down by 409 units from one month ago! We are currently sitting at a 2.2 months of supply, (based on Active listings with no UCB/AWC). Pending sales are down from the month before as of August 11th, 8,015 vs. one month ago at 8,987. Traditionally, 3-4 months of supply indicate a balanced market. Now is the time to take listings! July 2013 re-sales and new sales in Maricopa were 8,744. In June 2013 they were 8,512. That is a 3% increase from month to month. July 2012 was 8050, this is a 9% increase in year over year.

Absorption rate: Absorption rate is the % of sales that are sold each month of the inventory. A higher percent means that inventory is moving at a fast rate, and thus is a Seller’s market. Certain areas of town have very high absorption rates, they are:

  • East Valley 53%
  • West Valley 54%
  • Northwest 47%
  • Peoria/Glendale 55%
  • Desert Ridge 53%
  • Ahwatukee 55%

Median Price: The median price in Maricopa County for July 2013 was $198,085. This marks a 2.5% increase! July 2012 it was $150,000 for a 32.0% increase!! In July 2007 it was $258,273 and in July 2001 it was $141,682!

Distressed Market Pie Chart: This chart shows you the percentage of distrressed properties that are being listed and sold. Short sales reprsent 12% of the closings for the last month, and a .8 Months of Supply. Distressed Sales (ShortSales and REOs combined) accounted for 20% of the total sales for in the last month. REO property sales equal to 9% of the last month. Normal, non-distressed sales are now 80% of the total!! This is the highest it has been in 5 years!!

Check out our new graph! It is the last one! Gives you the average dollar per square foot of solids by month on a line chart going back one year. Prices have risen by 54% since the bottom of the market in August 2011!

Luxury: The Luxury Market of $1.0 Million and above continues to be the lowest absorption rate of any market segment. We have seen a slight incresae in this market segment. There was a 10% absorption rate for the last month. There were 100 properties in all of hte MLS were sold for more than $1.0 million.

MONTHS OF SUPPLY (with AWC/UCB listings) (Single Family Only)

East Valley: 1.9

Northwest: 2.1

Paradise Valley: 6.1

Luxury ($1mil+): 10.0

Southwest: 1.9

Peoria/Glendale: 1.8

Camelback Corridor: 2.2

Cave Creek: 3.9

Ahwatukee: 1.8

Scottsdale: 3.2

Apache Junction: 2.9

Fountain Hills: 4.0

Buckeye: 2.5

Desert Ridge & Tatum Corridor: 1.9


Foreclosure Data through end of April 2013

Here is the Foreclosure Data through the end of April 2013. You can print, post to your website, save, or email this chart to your clients!

 

Here is the take away!

1. Active Notices of trustee sale for residential properties as of the end of April 2013 were 9,194 units. Down from last month of 8,534. Down from the all time high of December ’09 of 47,606.

2. Residential Foreclosures were at their all time high in March 2010 at 5,451. Residential foreclosures were 901 last month. There was not change from March.

3. The residential REO properties are sitting at 4,114 vs. last month of 4,597. Down slightly by 483 units from last month! April of 2012 there were 6,711 REO properties, down 39%! Listed REO properties are approximately 932 units and pending are 1300. That tells us that there is approximately 1882 properties that are foreclosed but not yet on the market.

4. short Sales Represent approximately 12.4% of the total sales and REO’s are down to 10%. Normal sSales is at the highest point in the last 5 years. They represent 78% of total sales!!

5. Prices have gone up by 52% Valley Wide since the Market Low August of 2011! If you have clients who were under water in their home, it is a good time to call them! They may not be under water anymore and might want to list with YOU!

Business continues to be strong. We are in a rare opportunity to buy! Interest rates are very low and prices are still low, but rising quickly…REO properties seem to be going away as well as short sales. Please share this with your potential buyers!

Market Update – Through April 21, 2013

Equity Title presents the Market Update through April 21, 2013. We also provide the Market Update Book: this complete report in printed, magazine format. This is a great tool to use with Buyers or at Listing Appointments.

Let one of our Business Development Managers know how many Market Update Books you would like and we will get them to your office!

Here is the commentary followed by the charts:

Inventory (All Areas & Types in MLS): Total active listings (without AWCs/UCBs have dropped by 611 units in the last month. As of April 21st, we sit at 146, 080 Actives for all property types. Sales are at 8671 for the last 30 days (as of April 21st), up by 1178 units from one month ago. Pending Sales are up from the month before – as of April 21st, there are 11,416 Pending VS. 11,213 Pending one month ago. We are currently sitting at a 2.0 months of supply (based on Active without AWC/UCB). Traditionally, 3-4 months of supply indicate a balanced market. Now is the time to take listings!

Sales: In MArch 2013, there were 8658 Re-Sales and New Sales in Maricopa County, compared to February 2013 when there were 7073. In March 2012, there were 9581. That equates to a 22% increase month-over-month, but a 10% decrease year-over-year!

Prices: The Median Price for Maricopa County in March 2013 was $179,000; in February 2013 it was $173,266. This marks a 4% increase. In March 2012, the Median Price was $139,000 – so we are currently at a 29% increase year-over year! Looking back at past years Median Sales Prices: March 2007: $259,087 but in March 2001: $138,800.

Distressed Market Pie Chart: This chart shows you the percentage of distressed properties that are being listed and sold. Short Sales represent 14% of the Closings for the last month for a 1.3 Months of Supply. Distressed Sales (Short Sales and REOs combined) accounted for 26% of the total sales for the last month. REO Sales represent 11% of the sales from last month. Normal, non-distressed sales are now 74% of the market! That is the highest it has been in 5 years!

Luxury: The Luxury Market of $1,000,000+ continues to have the lowest absorption rate of any market segment, although, there was a slight increase with an *% absorption rate for the month of March. There were 104 properties in the MLS were sold for more than $1,000,000 in March 2013.

 

Foreclosure Data – March 2013

Here is the foreclosure data through the end of March 2013.

Share this info with your Buyers! Use it at Open Houses! Print, Post, Save and Email this information! Everyone wants to know about Real Estate and what is happening in our Market! Be the knowledgeable source…and when you get a contract, use Equity Title!

Here is the Take Away:
Default Properties: The status of a property currently within the Foreclosure process after the Bank records a Notice of Trustee Sale due to lack of borrower making payments for at least 90 days. Properties remain in this status until there is a recorded Trustee Sale or Cancellation of Trustee Sale.
  • At the end of March 2013, there were 9,194 Active Default Residential Properties. This is down from the previous month when there were 9,750Active Default Residential Properties.  FYI: The All-Time high was in December of 2009 when there were 47,606 Active Default Residential Properties.

Foreclosures: When the Bank either sells the property at the Trustee Sale (Auction) or takes the property back via Trustee’s Deed.

  • Foreclosures hit an All-Time, one-month high in March 2010 with 5,451. In March 2013, there were 901 Foreclosures. This was down by 79 units from February.

REO Properties: Properties that the bank owns due to lack of sale at the Trustee Sale (Auction).

  • At the end of March 2013, there were 4,597 Residential REO Properties – vs. the previous month when there were 4,713. This is down by 116 REO units – from last month! In March 2012, there were 7,408 REO Properties – so we are down by 38% from then. There are approximately 933 REO Properties listed in the MLS, with an additional 1,470 REO Properties that are in UCB and Pending Status in the MLS. This means that there are approximately 2,194 REO Properties that are Foreclosed on, but have not yet been listed in the MLS.

Sales:

  • Short Sales currently represent approximately 14% of the total sales for Maricopa County
  • REO Sales currently represent approximately 11% of the total sales for Maricopa County
  • Normal Sales now represent 75% of the total sales – the highest point in the last 5 years!

Prices:

  • Valleywide, prices have increased by 46% since the market low in August 2011.
  • Properties that were previously underwater, may no longer be

 

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 representsrecordings 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.

Market Update – November 2012

Here is the Market Update through November 28th, 2012. We have added a new bar to the Valleywide Comparison Chart: Actives without AWCs – for a more accurate understanding of the current market.

Market Update Book: We have put this complete report into a printed, magazine format! Great to use with Buyers or at Listing Appointments. Let us know how many you would like and we will get them to your office!

*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.

Inventory (All Areas & Types in MLS): Total active listings (without AWCs) have picked up by 1048units in the last month. As of November 28th, we sit at 18,105 Actives for All Property Types. Sales are at 6321for the last 30 days (as of November 28th), down by 407 units from one month ago. Pending Sales are down slightly from the month before – as of November 28th, there are 10,005Pending vs. 10,263 Pending one month ago. We are currently sitting at a 2.9 months of supply ( based on Active without AWC). Traditionally, 3-4 months of supply indicate a balanced market. Now is the time to take listings!

Sales: In October 2012, there were 7895 Re-Sales and New Sales in Maricopa County, compared to September 2012 when there were 7030. In October 2011, there were 7135. That equates to an 11% increase month-over month and an 11% increase year-over-year!

Prices: The Median Price for Maricopa County in October 2012 was $163,753; in September  2012 it was $156,898. This marks a 4% increase. In October 2011, the Median Price was $122,300 – so we are currently at a 34% Increase year-over-year! Looking back at past years Median Sales Prices: October 2007: $247,000 – but in October 2001: $140,000.

Distressed Market Pie Chart: This chart shows you the percentage of distressed properties that are being listed and sold. Short Sales represent 23% of the Closings for October and 8% of the Active Listings for a .9 Months of Supply.Distressed Sales (Short Sales and REOs combined) accounted for36% of the total sales for the last month. REO Sales represent 13% of the sales from last month.The listing success rate for Short Sales is 60%! Don’t avoid these listings! They are closing with greater success rate! Note: Normal, non-distressed sales are 62% of the market.

Luxury: The Luxury Market of $1,000,000+ continues to have the lowest absorption rate of any market segment. There was a 7% absorption rate for the month of October. Only 69 properties in all of the MLS were sold for more that $1,000,000 in October 2012.

MONTHS OF SUPPLY (includes AWCs, Single-Family only)

East Valley: 2.3

NorthWest Valley: 3.5

Paradise Valley: 9.8

Luxury ($1mil+): 14.4

Southwest: 3.0

Peoria/Glendale: 2.7

Camelback Corridor: 3.7

Cave Creek: 3.3

Ahwatukee: 2.8

Scottsdale: 4.9

Apache Junction: 3.4

Fountain Hills: 5.8

Buckeye: 3.4

Desert Ridge & Tatum Corridor: 2.2

 

Below are the graphs:

Foreclosure Data – End of August 2012

Here is the Foreclosure Data through the end of August 2012.

You can print, post to your website, save or e-mail this to your clients!

Here is the Take Away!

1. Active Notices of trustee sale for residential properties as of the end of August’12 were 14,999 units. Down from last month of 16,018.  Down from the all time high of December ’09 of 47,606.

 

2.  Residential Foreclosures were at there all time high in March 2010 at 5,451. Residential foreclosures were 2517 last month. This was up by 644 units from July.

 

3. The residential REO properties are sitting at 5,970 vs. last month of 5,453. Up slightly by 517 units from last month! August of 2011 there were 14,480 REO properties, down 59%! Listed REO properties are approximately 1,300 units and pending are 1,296. That tells us that there is approximately 3,374 properties that are foreclosed but not yet on the market.

 

4. Short Sales Represent approximatley 30% of the total sales and REO’s are down to 14.0%. Normal Sales are at the highest point in the last 5 years. They represent 56% of total sales!

 

Business continues to be strong. We are in a rare opportunity to buy! Interest rates are very low and prices are still low….. But not for long. REO properties seem to be going away as short sales continue to get approved. Please share this with your potential buyers!