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Phoenix Real Estate Market Report ~ June 2015

Real Time_Supply

Pie Chart_Market

Average Sold Price_Monthly

Average Days on Market_Monthly

Active vs Sold Transactions

Foreclosures_Monthly

Short Sales_Monthly

The current real time market profile shows there were approximately 10,380 new listings on the market in April 2015 and 8,406 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 June 2014 (12 months ago), the average sold price has increased approximately +4.1% (up from last month), the average days on market have increased approximately +0.0% (up from last month) and the number of transaction has increased approximately +16.2% (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 begun with strong demand. The current average sold price is approximately $269,000 which is up substantially 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 (for seller) the market continues its upward trend throughout the summer buying season.

The volume of foreclosure purchases since June 2014 (12 months ago) has decreased approximately -42.2% and the volume of short sales have decreased approximately -6.5%. Since June 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 June 2014 (12 months ago), the number of homes for sale on the market have decreased approximately -11.2% or 28,776 homes for sale on the market to a gradually decrease of 24,410 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 Luxury Market Report ~ April 2015

Luxury Market Index

Luxury Average Sold Price_Monthly

Luxury Average Days on Market_Monthly

Luxury Transaction_Monthly

Prices in the Phoenix luxury real estate markets typically go up during the winter season and go back down during the summer months. Since the end of the winter in November 2014, the average sold price has decreased approximately -9.5% (up from last month), the average days on market have decreased approximately -5.2% (down from last month) and the number of transactions have increased approximately +98.7% (up from last month). The average price per square foot is currently approximately $335 PSF, average days on market is 181 days and 153 transactions last month. Since we are now entering the summer months we are seeing the average sold price decrease, the average days on market increase and the number of transactions increase.

The luxury market is following its typical trend as we enter the summer months. The statistics for the month of April 2015 are showing a trend that the market is improving: the average sold price trend is decreasing, the average days on market are increasing but the number of transactions continues to increasing. Based on the statistics for the month of April it appears the Phoenix luxury market is following its typical trend as we start to enter the summer months.

Trying to “time the market” for the perfect time to buy is nearly impossible but there is no better time than now to purchase. The economy is continuing to show signs of improvement in terms the overall economy and the real estate market is start to improve so you might be able to pick up a good deal. Give us a call to discuss your best buying strategy, TODAY!!

Position Realty
Office: 480-213-5251

Phoenix Luxury Market Report ~ March 2015

Luxury Market Index

Luxury Average Sold Price_Monthly

Luxury Average Days on Market_Monthly

Luxury Transaction_Monthly

Prices in the Phoenix luxury real estate markets typically go up during the winter season and go back down during the summer months. Since the end of the winter in November 2014, the average sold price has decreased approximately -14.6% (down from last month), the average days on market have increased approximately +13.6% (up from last month) and the number of transactions have increased approximately +71.4% (up from last month). The average price per square foot is currently approximately $316 PSF, average days on market is 217 days and 132 transactions last month. Since we are now entering the summer months we are seeing the average sold price decrease, the average days on market increase and the number of transactions increase.

The luxury market is following its typical trend as we enter the summer months. The statistics for the month of March 2015 are showing a trend that the market is improving: the average sold price trend is decreasing, the average days on market are increasing but the number of transactions continue to increasing. Based on the statistics for the month of March it appears the Phoenix luxury market is following its typical trend as we start to enter the summer months.

Trying to “time the market” for the perfect time to buy is nearly impossible but there is no better time than now to purchase. The economy is continuing to show signs of improvement in terms the overall economy and the real estate market is start to improve so you might be able to pick up a good deal. Give us a call to discuss your best buying strategy, TODAY!!

Position Realty
Office: 480-213-5251

Phoenix Residential Market Report ~ November 2014

Real Time_Supply

Pie Chart_Market

Average Sold Price_Monthly

Average Days on Market_Monthly

Active vs Sold Transactions

Foreclosures_Monthly

Short Sales_Monthly

The current real time market profile shows there were approximately 10,009 new listings on the market in October 2014 but only 6,244 sold transactions. Currently the number of transactions is back down to the amount experienced in 2008 and as a result there is an increase in inventory because the number of listings is not being purchased at a fast enough rate.

Since November 2013 (12 months ago), the average sold price has increased approximately +2.6% (up from last month), the average days on market have increased approximately +39.7% (up from last month) and the number of transaction has increased approximately +25.1% (down from last month). Since the month of November 2013 the average sold price has teeter tottered up and down with no upward trend. This is good news since the market has not formed a downward trend. We will not see an indication of a market reversal until there have been two to three consecutive months of upward or downward pressure on the average sold price, DOM and number of transactions. The current average sold price is approximately $248,000 which is up slightly from last month.

The volume of foreclosure purchases since November 2013 (12 months ago) has increased approximately +4.7% and the volume of short sales have decreased approximately -37.0%. Since November 2013 the volume of foreclosure purchases went up the beginning of the year and now the trend is back downward. 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 November 2013 (12 months ago), the number of homes for sale on the market have decreased approximately -0.6%. Since March 2014 there were 29,435 homes for sale on the market but the number of homes for sale has been gradually decreased to 26,668 or a -9.4% decrease in November 2014. This decrease in the number of homes for sale could be a sign the market is beginning shift once again back to a seller’s market (low supply and increased demand) but we will not know for sure until after the holiday season.

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 Luxury Market Report ~ November 2014

Luxury Average Sold Price_Monthly

Luxury Average Days on Market_Monthly

Luxury Transaction_Monthly

Luxury Market Index

Prices in the Phoenix luxury real estate markets typically go up during the winter season and go back down during the summer months. Since the end of the winter in April 2014, the average sold price has increased approximately +0.3% (down from last month), the average days on market have increased approximately +2.3% (down from last month) and the number of transactions have decreased approximately -32.9% (down from last month). The average price per square foot is approximately $329 PSF, average days on market is 177 days and 96 transactions last month. Since we are now in the winter months we are seeing the average sold price increase, the average days on market decrease and the number of transactions increase.

The luxury market is following its typical trend as we enter the winter months. The statistics for the month of September is showing a trend that the market is improving: the average sold price trend is increasing, the average days on market are decreasing and the number of transactions is increasing. Based on the statistics for the month of September it appears the Phoenix luxury market is following its typical trend during the winter months.

Trying to “time the market” for the perfect time to buy is nearly impossible but there is no better time than now to purchase. The economy is continuing to show signs of improvement in terms the overall economy and the real estate market is start to improve so you might be able to pick up a good deal. Give us a call to discuss your best buying strategy, TODAY!!

Position Realty
Office: 480-213-5251

Phoenix Residential Market Report ~ August 2014

As you can see from the first chart above, Position Realty Market Index, the first time home buyer tax credit created a great deal of demand in the market similar to the real estate boom from 2004 to 2006. Currently the number of transactions is slowing down as a result there is an increase in inventory because the number of listings is not being purchased at a fast enough rate.

Since September 2013 (12 months ago), the average sold price has increased approximately +5.5% (up from last month), the average days on market have increased approximately +42.6% (up from last month) and the number of transaction has increased approximately 2.6% (up from last month). Since the month of September the average sold price has teeter tottered up and down with no upward trend. This is good news since the market has not formed a downward trend. We will not see an indication of a market reversal until there have been two to three consecutive months of upward or downward pressure on the average sold price, DOM and number of transactions. The current average sold price is approximately $252,000 which is unchanged from last month.

The volume of foreclosure purchases since September 2013 (12 months ago) has decreased approximately -19.3% and the volume of short sales have decreased approximately -59.7%. Since October 2013 the volume of foreclosure purchases have teeter tottered up and down with no upward trend. 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 September 2013 (12 months ago), the number of homes for sale on the market have increased approximately +18.3%. This increase in the number of listings is caused by investors leaving the market and sellers that purchased during the real estate boom are putting their homes on the market to break-even or sell with a small amount of equity. During the month of August the number of homes for sale has decreased from 26,903 homes to 26,063 homes or a decrease of approximately -3.1%. This is a good sign for the market since an oversupply of homes on the market will cause real estate prices to decrease and the summer buying season has been slower than in recent years.

As more and more sellers enter the market and as more of the supply of residential homes increase, real estate prices may start to decrease (more supply and weaker demand causes prices to decrease).Real estate prices are still at an all time low (near 2008 prices), mortgage rates are still at a historical low and the market is improving both in terms of prices and the overall economy. Give us a call to discuss your best investment strategy, TODAY!!

Phoenix Luxury Real Estate Market Report ~ February 2014

Prices in the Phoenix luxury real estate markets typically go up during the winter season and go back down during the summer months. Since the end of the summer in August 2013, the average sold price has increased approximately +9.% (down slightly from last month), the average days on market have decreased approximately -27.1% (down from last month) and the number of transactions have decreased approximately -3.3% (down from last month). The average price per square foot is approximately $327 PSF, average days on market is 167 days and 88 transactions last month. This holiday season the average sold price has increased, the average days on market decreased and the number of transactions decreased.

The luxury market is following its typical trend during the winter months: the average sold price trend is upward, the average days on market are decreased but the numbers of transactions were down as compared to the winter months in 2012. The slowdown in the number of transaction indicates the market is in confusion regarding the overall direction of the market and macro economy as a whole.

Trying to “time the market” for the perfect time to buy is nearly impossible but there is no better time than now to purchase. Real estate prices are at an all time low as compared to past price performance and the economy is continuing to show signs of improvement in terms the overall economy. Time to buy in the Luxury market is NOW!! Give us a call to discuss your best buying strategy, TODAY!!

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Position Realty ~ Sean Heideman, Broker ~ (480) 213-5251

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