Phoenix AZ – Real Estate Market Data – September 2011
Click here for full report – Phoenix 2011-09
Property Sales
September Property sales were 2,123, up 21.4% from 1,749 in September of 2010 and 6.5% lower than the 2,270 sales last month. September 2011 sales were at their highest level compared to September of 2010 and 2009. September YTD sales of 19,791 are running 17.4% ahead of last year’s year-to-date sales of 16,851.
Prices
The Median Sales Price in September was $85,000, down 1.0% from $85,900 in September of 2010 and up 3.7% from $82,000 last month. The Average Sales Price in September was $127,730, down 3.1% from $131,810 in September of 2010 and up 8.3% from $117,990 last month. September 2011 ASP was at the lowest level compared to September of 2010 and 2009.
Inventory & MSI
The Total Inventory of properties available for sale as of September was 5,860, up 0.1% from 5,854 last month and down 45.8% from 10,807 in September of last year. September 2011 Inventory was at its lowest level compared with September of 2010 and 2009.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The September 2011 MSI of 2.8 months was at its lowest level compared with September of 2010 and 2009.
Market Time
The average Days On Market (DOM) shows how many days the average Property is on the market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer’s market, a downward trend a move towards more of a Seller’s market. The DOM for September was 63, down 1.6% from 64 days last month and down 6.0% from 67 days in September of last year. The September 2011 DOM was at a mid level compared with September of 2010 and 2009.
Copyright © Coldwell Banker Residential Brokerage – Data is provided courtesy of Arizona Regional Multiple Listing Service, Inc.; Tucson Association of Realtors and Prescott Area Association of Realtors and may not reflect all relevant real estate activity. Coldwell Banker Residential Brokerage does not guarantee the accuracy of this information. It is the responsibility of any buyer or seller to verify any and all information relevant to such consumer’s real estate transaction.
