Phoenix AZ – Real Estate Market Data – February 2012
Click here for full report – Phoenix 2012-02
February Property sales were 1,746, down 1.6% from 1,775 in February of 2011 and 6.1% higher than the 1,646 sales last month. February 2012 sales were at a mid level compared to February of 2011 and 2010. February YTD sales of 3,392 are running 0.1% ahead of last year’s year-to-date sales of 3,387.
The Median Sales Price in February was $94,250, up 31.1% from $71,900 in February of 2011 and up 6.4% from $88,575 last month. The Average Sales Price in February was $134,872, up 15.4% from $116,902 in February of 2011 and up 2.8% from $131,150 last month. February 2012 ASP was at the highest level compared to February of 2011 and 2010.
Inventory & MSI
The Total Inventory of Properties available for sale as of February was 4,511, down 4.8% from 4,740 last month and down 51.6% from 9,321 in February of last year. February 2012 Inventory was at its lowest level compared with February of 2011 and 2010. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The February 2012 MSI of 2.6 months was at its lowest level compared with February of 2011 and 2010.
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 February was 57, equal to 57 days last month and down 21.9% from 73 days in February of last year. The February 2012 DOM was at its lowest level compared with February of 2011 and 2010.
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.