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Phoenix Real Estate Market Report ~ August 2016

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The current real time market profile shows there were approximately 9,332 new listings (up 291 listings from last month) on the market in August 2016 and 7,936 sold transactions. Since August 2016 the overall inventory of homes on the market is down -16.4% as compared to the number of home on the marker in August 2014. Current demand is equivalent to demand for housing experienced in August 2015 but due to the greater demand this year the lower inventory of homes on the market may cause prices to appreciate at a faster rate. There is currently 21,873 listing on the market and 7,963 sold transaction which equates to 2.7 months of inventory on the market. Historically, 2.7 months of inventory on the market is the lowest the Phoenix market has seen June 2013.

In July 2016 the average sold price took a steep dive south as well as the number of sold transactions. The month of August the average sold price increased approximately +1.0% to $275,642 but is still down -2.6% from June 2016 at $282,879. This could be the temporary price decrease due to the upcoming presidential election. Last year’s summer buying season was weak where we saw prices decrease from June to September. This month the number of transaction increased 194 transactions which is a small increase as compared to prior months. Since September 2015 (12 months ago), the average sold price has increased approximately +6.0% (up from last month), the average days on market have increased approximately +7.0% (up from last month) and the number of sold transactions have increased approximately +14.1% (up from last month).

The volume of foreclosure purchases since September 2015 (12 months ago) has decreased approximately -28.1% and the volume of short sales increased of approximately +1.3%. Since August 2013 the number of foreclosures have decreased -228.3% indicating a healthy market. Also, since August 2013 the volume of short sales have decreased -344.2% because the inventory of homes “up-side-down” have been exhausted and values have risen to a point where consumers can break-even or sell with some equity but some homeowners are still up-side-down if they purchased their homes between 2005 and 2007.

Since September 2015 (12 months ago), the number of homes for sale on the market have increased approximately +0.4% or 21,778 homes for sale on the market to a gradual increase of 21,873 homes. The total number of listings is low as compared to 26,076 listings in August 2014. This decrease in the number of homes for sale indicates we are currently in a seller’s market (low supply and increased demand).

Real estate prices are still relatively low (near 2008 prices), mortgage rates are still at a historical low and the macroeconomic market is improving both in terms of prices and the overall economy. Give us a call to discuss your best buying or selling strategy, TODAY!!

Position Realty
Office: 480-213-5251

Phoenix Residential Market Report ~ June 2016

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Active vs Sold Transactions

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The current real time market profile shows there were approximately 9,920 new listings (down 153 listings from last month) on the market in June 2016 and 8,977 sold transactions. Since the beginning of the year the number of new listings has exceeded the number of sold transactions by +10.5% but the overall inventory of homes on the market is down -15.3% as compared to the number of home on the marker in June 2014. Demand is equivalent to demand experienced in June 2015 but with lower inventory of homes on the market home prices will start to appreciate at a faster rate.

Since September 2015 the average sold price has formed a new upward trend where each month the average sold price has gradually increased. Last year’s summer buying season was weak where we saw prices decrease from June to September. This month buyers demand has stays strong so we should continue to see the Phoenix real estate market continue to appreciate which is good news for sellers. Since July 2015 (12 months ago), the average sold price has increased approximately +7.6% (up from last month), the average days on market have decreased approximately -1.3% (down from last month) and the number of sold transactions have increased approximately +12.6% (up from last month).

The volume of foreclosure purchases since July 2015 (12 months ago) has decreased approximately -30.5% and the volume of short sales decreased of approximately -53.3%. Since November 2014 the volume of foreclosure purchases went up and now the trend is back down once again. Also, since August 2013 the volume of short sale purchases have decreased -414.3% because the inventory of homes “up-side-down” have been exhausted and values have risen to a point where consumers can break-even or sell with some equity but some homeowners are still up-side-down depending if they purchased their homes between 2005 and 2007.

Since July 2015 (12 months ago), the number of homes for sale on the market have increased approximately +5.3% or 22,129 homes for sale on the market to a gradual increase of 23,298 homes. The total number of listings is low as compared to 28,776 listings in May 2014. This decrease in the number of homes for sale indicates we are currently in a seller’s market (low supply and increased demand).

Real estate prices are still relatively low (near 2008 prices), mortgage rates are still at a historical low and the macroeconomic market is improving both in terms of prices and the overall economy. Give us a call to discuss your best buying or selling strategy, TODAY!!

Position Realty
Office: 480-213-5251

Phoenix Real Estate Market Report ~ May 2016

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The current real time market profile shows there were approximately 10,041 new listings (down 1,013 listings from last month) on the market in May 2016 and 8,844 sold transactions. Since the beginning of the year the number of new listings has exceeded the number of sold transactions by +13.5% but the overall inventory of homes on the market is down -15.8% as compared to the number of home on the marker in May 2014. Demand is equivalent to demand experienced in May 2015 but with lower inventory of homes on the market home prices will start to appreciate at a faster rate.

Since June 2015 (12 months ago), the average sold price has increased approximately +3.9% (up from last month), the average days on market have decreased approximately -2.6% (down from last month) and the number of sold transactions have increased approximately +1.7% (up from last month). Since the month of September 2015 the average sold price has formed a new upward trend where each month the average sold price has gradually increased. Last year’s summer buying season was weak where we saw prices decrease from June to September. As long as buyer demand stays strong until September we should continue to see the Phoenix real estate market appreciate over the summer months.

The volume of foreclosure purchases since June 2015 (12 months ago) has decreased approximately -43.8% and the volume of short sales decreased of approximately -30.0%. Since November 2014 the volume of foreclosure purchases went up and now the trend is back down once again. Also, since August 2013 the volume of short sale purchases have decreased -365.3% because the inventory of homes “up-side-down” have been exhausted and values have risen to a point where consumers can break-even or sell with some equity but some homeowners are still up-side-down depending if they purchased their homes between 2005 and 2007.

Since June 2015 (12 months ago), the number of homes for sale on the market have increased approximately +10.5% or 22,475 homes for sale on the market to a gradual increase of 24,840 homes. The total number of listings is low as compared to 28,776 listings in May 2014. This decrease in the number of homes for sale indicates we are currently in a seller’s market (low supply and increased demand).

Real estate prices are still relatively low (near 2008 prices), mortgage rates are still at a historical low and the macroeconomic market is improving both in terms of prices and the overall economy. Give us a call to discuss your best buying or selling strategy, TODAY!!

Position Realty
Office: 480-213-5251

Phoenix Residential Market Report ~ March 2016

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The current real time market profile shows there were approximately 11,402 new listings (up 745 from last month) on the market in March 2016 and 8,457 sold transactions. Since the beginning of the year the number of new listings has exceeded the number of sold transactions but the number of sold transactions is 7.2% higher the number of transaction in March 2015. This could be a good sign the summer buying season will be strong than last year.

Since April 2015 (12 months ago), the average sold price has increased approximately +1.3% (up from last month), the average days on market have decreased approximately -6.0% (down from last month) and the number of sold transactions have increased approximately +0.6% (up from last month). Since the month of September 2015 the average sold price has formed a new upward trend where each month the average sold price has gradually increased. Last year’s summer buying season was weak where we saw prices decrease from June to September. As long as buyer demand stays strong until September we should continue to see the Phoenix real estate market appreciate over the summer months.

The volume of foreclosure purchases since April 2015 (12 months ago) has decreased approximately -40.2% and the volume of short sales decreased of approximately -21.8%. Since November 2014 the volume of foreclosure purchases went up and now the trend is back down once again. Also, since August 2013 the volume of short sale purchases have consistently decreased because the inventory of homes “up-side-down” have been exhausted and values have risen to a point where consumers can break-even or sell with some equity but some homeowners are still up-side-down depending if they purchased their homes between 2005 and 2007.

Since April 2015 (12 months ago), the number of homes for sale on the market have increased approximately +1.5% or 24,965 homes for sale on the market to a gradual decrease of 25,329 homes. The total number of listings is still low as compared to 29,308 listings in April 2014. This decrease in the number of homes for sale indicates we are currently in a seller’s market (low supply and increased demand).

Real estate prices are still relatively low (near 2008 prices), mortgage rates are still at a historical low and the macroeconomic market is improving both in terms of prices and the overall economy. Give us a call to discuss your best investment strategy, TODAY!!

Position Realty
Office: 480-213-5251

Phoenix Residential Market ~ February 2016

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The current real time market profile (properties for sale) shows there were approximately 10,648 new listings (up 94 listings from last month) on the market in February 2016 and 5,833 sold transactions. Since the beginning of the year the number of new listings has exceeded the number of sold transactions which the recent interest rate increase by the Fed may entice property owners to sell and tighter mortgage underwriting guidelines for borrowers are preventing new purchases.

Since March 2015 (12 months ago), the average sold price has increased approximately +5.9% (up from last month), the average days on market have decreased approximately -9.8% (up from last month) and the number of sold transactions have decreased approximately -25.5% (up from last month). Since the month of September 2015 the average sold price has formed a new upward trend where each month the average sold price has gradually increased. Last year’s summer buying season was weak where we saw price decreases from June to September. If the number of new listings continues to increase and the number of sold transactions decreases, then prices in the summer may start to decrease again in 2016. Let’s hope this summer’s buying season is better than last year.

The volume of foreclosure purchases since March 2015 (12 months ago) has decreased approximately -38.8% and the volume of short sales decreased of approximately -28.6%. Since November 2014 the volume of foreclosure purchases went up and now the trend is back down once again. Also, since August 2013 the volume of short sale purchases have consistently decreased because the inventory of homes “up-side-down” have been exhausted and values have risen to a point where consumers can break-even or sell with some equity but some homeowners are still up-side-down depending if they purchased their homes between 2005 and 2007.

Since March 2015 (12 months ago), the number of homes for sale on the market have decreased approximately -1.4% or 25,745 homes for sale on the market to a gradually decrease of 25,221 homes. The total number of listings is still low as compared to 29,308 listings in April 2014. This decrease in the number of homes for sale indicates we are currently in a seller’s market (low supply and increased demand).

Real estate prices are still relatively low (near 2008 prices), mortgage rates are still at a historical low and the macroeconomic market is improving both in terms of prices and the overall economy. Give us a call to discuss your best investment strategy, TODAY!!

Position Realty
Office: 480-213-5251

Phoenix Residential Market Report ~ January 2016

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Average Sold Price_Monthly

Average Days on Market_Monthly

Active vs Sold Transactions

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The current real time market profile shows there were approximately 10,742 new listings (up 4,607 from last month) on the market in January 2016 and 5,194 sold transactions. Since the beginning of the year the number of new listings has exceeded the number of sold transactions which the recent interest rate increase by the Fed may entice property owners to sell and tighter mortgage underwriting guidelines for borrowers are preventing new purchases. The number of total listing is still low as compared to 29,308 listings in April 2014 but this dramatic increase in the number of listings could be a sign for market reversal.

Since February 2015 (12 months ago), the average sold price has increased approximately +7.5% (up from last month), the average days on market have decreased approximately -16.0% (up from last month) and the number of sold transactions have decreased approximately -10.6% (down from last month). Since the month of May 2014 the average sold price has teeter tottered up and down with no upward trend but in April 2015 the average sold price jumped higher than the last 12 months. Last year’s summer buying season was strong where we saw prices decrease from July to September but during the holiday season prices started to increase. If the number of new listings continues to increase and the number of sold transactions decreases, then prices may start to decrease again in 2016. Let’s hope this summer’s buying season is better than last year.

The volume of foreclosure purchases since February 2015 (12 months ago) has decreased approximately -42.5% and the volume of short sales decreased of approximately -36.1%. Since November 2014 the volume of foreclosure purchases went up and now the trend is back down once again. Also, since August 2013 the volume of short sale purchases have consistently decreased because the inventory of homes “up-side-down” have been exhausted and values have risen to a point where consumers can break-even or sell with some equity but some homeowners are still up-side-down depending if they purchased their homes between 2005 and 2007.

Since February 2015 (12 months ago), the number of homes for sale on the market have decreased approximately -9.5% or 25,745 homes for sale on the market to a gradually decrease of 23,699 homes. We will have to keep an eye on the number of new listings coming on the market and buyer demand over the next few months to determine if the market is shifting once again.

Real estate prices are still relatively low (near 2008 prices), mortgage rates are still at a historical low and the macroeconomic market is improving both in terms of prices and the overall economy. Give us a call to discuss your best investment strategy, TODAY!!

Position Realty
Office: 480-213-5251

Phoenix Residential Market Report ~ December 2015

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Active vs Sold Transactions

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The current real time market profile shows there were approximately 6,131 new listings (down from last month) on the market in December 2015 and 6,737 sold transactions. Since the beginning of the year the number of new listings has exceeded the number of sold transactions but in December the number of sold transactions exceeded the number of new listings coming on the market. The number of total listing is still low as compared to 29,308 listings in April 2014 and this shift may be the direct results of the holidays.

Since January 2015 (12 months ago), the average sold price has increased approximately +5.5% (up from last month), the average days on market have decreased approximately -17.9% (up from last month) and the number of sold transactions have increased approximately +41.4% (up from last month). Since the month of May 2014 the average sold price has teeter tottered up and down with no upward trend but in April 2015 the average sold price jumped higher than the last 12 months. The summer buying season was strong where we saw prices decrease from July to September but during the holiday season prices are starting increase. The current average sold price is approximately $269,000 which is up +5.5% since January 2015.

The volume of foreclosure purchases since January 2015 (12 months ago) has decreased approximately -30.8% but the volume of short sales saw a slight increase of approximately +7.2%. Since November 2014 the volume of foreclosure purchases went up and now the trend is back down once again. Also, since August 2013 the volume of short sale purchases have consistently decreased because the inventory of homes “up-side-down” have been exhausted and values have risen to a point where consumers can break-even or sell with some equity but some homeowners are still up-side-down depending if they purchased their homes between 2005 and 2007. The slight increase in short sales in December could be due to banks wanting to get these assets off their books before the beginning of the new year.

Since January 2015 (12 months ago), the number of homes for sale on the market have decreased approximately -9.3% or 25,745 homes for sale on the market to a gradually decrease of 23,353 homes. This decrease in the number of homes for sale could be a sign the market is beginning to shift once again back to a seller’s market (low supply and increased demand).

Real estate prices are still relatively low (near 2008 prices), mortgage rates are still at a historical low and the macroeconomic market is improving both in terms of prices and the overall economy. Give us a call to discuss your best investment strategy, TODAY!!

Position Realty
Office: 480-213-5251

Phoenix Residential Market Report ~ November 2015

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The current real time market profile shows there were approximately 8,086 new listings (up from last month) on the market in November 2015 and 5,364 sold transactions. Since the beginning of the year the number of new listings has exceeded the number of sold transactions but the number of total listing has consistently decreased since April 2014.

Since December 2014 (12 months ago), the average sold price has increased approximately +2.2% (up from last month), the average days on market have decreased approximately -16.10% (Same as last month) and the number of sold transaction has decreased approximately -17.3% (down from last month). Since the month of May 2014 the average sold price has teeter tottered up and down with no upward trend but in April 2015 the average sold price jumped higher than the last 12 months. The summer buying season was strong but as we enter the holiday season prices are starting to rescind back to prices at the beginning of the summer. The current average sold price is approximately $265,000 which is up +2.2% since December 2014.

The volume of foreclosure purchases since December 2014 (12 months ago) has decreased approximately -45.3% and the volume of short sales have decreased approximately -45.2%. Since November 2014 the volume of foreclosure purchases went up and now the trend is back down once again. Also, since August 2013 the volume of short sale purchases have consistently decreased because the inventory of homes “up-side-down” have been exhausted and values have risen to a point where consumers can break-even or sell with some equity but some homeowners are still up-side-down depending if they purchased their homes between 2005 and 2007.

Since December 2014 (12 months ago), the number of homes for sale on the market have decreased approximately -10.2% or 26,270 homes for sale on the market to a gradually decrease of 23,585 homes. This decrease in the number of homes for sale could be a sign the market is beginning to shift once again back to a seller’s market (low supply and increased demand).

Real estate prices are still relatively low (near 2008 prices), mortgage rates are still at a historical low and the macroeconomic market is improving both in terms of prices and the overall economy. Give us a call to discuss your best investment strategy, TODAY!!

Position Realty
Office: 480-213-5251

Phoenix Real Estate Market Report ~ October 2015

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Phoenix Residential Market Report
Provide By Sean Heideman, Broker – (480) 213-5251 – Sean.Heideman@PositionRealty.com

The current real time market profile shows there were approximately 10,115 new listings (up from last month) on the market in October 2015 and 6,339 sold transactions. Since the beginning of the year the number of new listings has exceeded the number of sold transactions but the number of total listing has consistently decreased since April 2014.

Since November 2014 (12 months ago), the average sold price has increased approximately +4.4% (up from last month), the average days on market have decreased approximately -17.0% (up from last month) and the number of sold transaction has increased approximately +26.8% (down from last month). Since the month of May 2014 the average sold price has teeter tottered up and down with no upward trend but in April 2015 the average sold price jumped higher than the last 12 months. The summer buying season was strong but as we enter the holiday season prices are starting to rescind back to prices at the beginning of the summer. The current average sold price is approximately $263,000 which is up +2.2% since March 2015.

The volume of foreclosure purchases since November 2014 (12 months ago) has decreased approximately -19.7% and the volume of short sales have decreased approximately -11.7%. Since November 2014 the volume of foreclosure purchases went up and now the trend is back down once again. Also, since August 2013 the volume of short sale purchases have consistently decreased because the inventory of homes “up-side-down” have been exhausted and values have risen to a point where consumers can break-even or sell with some equity but some homeowners are still up-side-down.

Since November 2014 (12 months ago), the number of homes for sale on the market have decreased approximately -12.0% or 26,076 homes for sale on the market to a gradually decrease of 23,754 homes. This decrease in the number of homes for sale could be a sign the market is beginning to shift once again back to a seller’s market (low supply and increased demand).

Real estate prices are still relatively low (near 2008 prices), mortgage rates are still at a historical low and the macroeconomic market is improving both in terms of prices and the overall economy. Give us a call to discuss your best investment strategy, TODAY!!

Position Realty
Office: 480-213-5251

Phoenix Residential Market Report ~ August 2015

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Pie Chart_Market

Average Sold Price_Monthly

Average Days on Market_Monthly

Active vs Sold Transactions2

Foreclosures_Monthly

Short Sales_Monthly

The current real time market profile shows there were approximately 9,243 new listings (down from last month) on the market in July 2015 and 7,972 sold transactions. Since the beginning of the year the number of new listings has exceeded the number of sold transaction but the number of total listing has consistently decreased since April 2014.

Since August 2014 (12 months ago), the average sold price has increased approximately +4.0% (down from last month), the average days on market have decreased approximately -13.8% (down from last month) and the number of sold transaction has increased approximately +26.2% (down from last month). Since the month of May 2014 the average sold price has teeter tottered up and down with no upward trend but in April 2015 the average sold price jumped higher than the last 12 months. The summer buying season has been strong with a +2.1% increase in price since April 2015. The current average sold price is approximately $263,000 which is up since March 2015. This second month of price increases is a strong indication of a market reversal from the real estate market we experienced in 2014. Let’s hope the market continues its upward trend throughout the rest of the summer buying season.

The volume of foreclosure purchases since August 2014 (12 months ago) has decreased approximately -37.2% and the volume of short sales have increased approximately -34.4%. Since August 2014 the volume of foreclosure purchases went up and now the trend is back down once again. Since August 2013 the volume of short sale purchases have consistently decreased because the inventory of homes “up-side-down” have been exhausted and values have risen to a point where consumers can break-even or sell with some equity.

Since August 2014 (12 months ago), the number of homes for sale on the market have decreased approximately -15.1% or 26,076 homes for sale on the market to a gradually decrease of 22,129 homes. This decrease in the number of homes for sale could be a sign the market is beginning to shift once again back to a seller’s market (low supply and increased demand).

Real estate prices are still relatively low (near 2008 prices), mortgage rates are still at a historical low and the macroeconomic market is improving both in terms of prices and the overall economy. Give us a call to discuss your best investment strategy, TODAY!!

Position Realty
Office: 480-213-5251

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