Phoenix AZ – Real Estate Market Data – July 2012

Phoenix AZ – Real Estate Market Data – July 2012

Click here for full report – Phoenix 2012-07

To search for real estate in Phoenix, click on the following link – Phoenix Real Estate

Property Sales

July Property sales were 1,809, down 18.8% from 2,227 in July of 2011 and 14.3% lower than the 2,110 sales last month.  July 2012 sales were at a mid level compared to July of 2011 and 2010.  July YTD sales of 13,445 are running 15.3% behind last year’s year-to-date sales of 15,877.

Prices

The Median Sales Price in July was $122,000, up 54.4% from $79,000 in July of 2011  and up 4.3% from $117,000 last month.  The Average Sales Price in July was $160,731, up 34.2% from $119,792 in July of 2011 and down 0.0% from $160,800 last month.  July 2012 ASP was at the highest level compared to July of 2011 and 2010.

Inventory & MSI

The Total Inventory of Properties available for sale as of  July was 4,078, up 3.9% from 3,926 last month and down 33.2% from 6,108 in July of last year.  July 2012 Inventory was at its lowest level compared with July of 2011 and 2010. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers.  The July 2012 MSI of 2.3 months was at its lowest level compared with July of 2011 and 2010.

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 July was 39, down 2.5% from 40 days last month and down 37.1% from 62 days in July of last year.  The July 2012 DOM was at its lowest level compared with July of 2011 and 2010.

To search for real estate in Phoenix, click on the following link – Phoenix Real Estate

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.

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About azrelocation

Coldwell Banker Residential Brokerage provides comprehensive real estate and relocation services for Greater Phoenix, Greater Tucson, Prescott and Lake Havasu City. Our AZrelocation Blog will provide you with extensive market data -- both on the metro and city levels -- along with relocation trends, area highlights and other valuable information.
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