Phoenix AZ – Real Estate Market Data – November 2011
Click here for full report – Phoenix 2011-11
November Property sales were 1,880, up 12.1% from 1,677 in November of 2010 and 7.3%lower than the 2,027 sales last month. November 2011 sales were at their highest level compared to November of 2010 and 2009. November YTD sales of 23,685 are running 17.7% ahead of last year’s year-to-date sales of 20,130.
The Median Sales Price in November was $88,000, up 10.0% from $80,000 in November of 2010 and up 6.0% from $83,000 last month. The Average Sales Price in November was $130,306, up 6.9% from $121,913 in November of 2010 and up 10.0% from $118,496 last month. November 2011 ASP was at a mid range compared to November of 2010 and 2009.
Inventory & MSI
The Total Inventory of Properties available for sale as of November was 5,476, down 2.4% from 5,612 last month and down 49.0% from 10,744 in November of last year. November 2011 Inventory was at its lowest level compared with November of 2010 and 2009.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The November 2011 MSI of 2.9 months was at its lowest level compared with November of 2010 and 2009.
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 November was 60, equal to 60 days last month and down 10.4% from 67 days in November of last year. The November 2011 DOM was at a mid level compared with November 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.