Phoenix, AZ – Real Estate Market Data – November 2012
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November Property sales were 1,670, down 11.1% from 1,878 in November of 2011 and 3.7% lower than the 1,735 sales last month. November 2012 sales were at their lowest level compared to November of 2011 and 2010. November YTD sales of 20,230 are running 16.2% behind last year’s year-to-date sales of 24,129.
The Median Sales Price in November was $130,750, up 50.3% from $87,000 in November of 2011 and up 0.7% from $129,900 last month. The Average Sales Price in November was $171,739, up 34.1% from $128,097 in November of 2011 and down 3.5% from $177,966 last month. November 2012 ASP was at the highest level compared to November of 2011 and 2010.
The Total Inventory of Properties available for sale as of November was 4,581, up 0.7% from 4,547 last month and down 11.8% from 5,192 in November of last year. November 2012 Inventory was at its lowest level compared with November of 2011 and 2010. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The November 2012 MSI of 2.7 months was at its lowest level compared with November 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 November was 38, down 7.3% from 41 days last month and down 35.6% from 59 days in November of last year. The November 2012 DOM was at its lowest level compared with November of 2011 and 2010.
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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.