For February here are the county numbers which is showing some interesting statistics.
These figures are from the Arizona Regional Multiple Listing Service. Sales in February were up 14.4% over January (which is typical since 2001), however comparing 2013 to 2012 there was a decline of 8.6%. Our total inventory is down 8.5% from last year, and we have been in the range of 19 to 23k homes listed for a year. That is way below traditional number of active homes in the county. The months supply inventory is at 3.28 months which indicates a seller’s market. The interesting aspect is the sales price and list pricing. List pricing is averaging $283,400, which is a 21.6% increase from March 2012. The sales price increased 3.3% to a median price of 160,00, which we last saw in October 2008. Over the past twelve months the median sales price is up 23.17%. ARMLS is predicting an increase in the median sales price of 3.23% by the end of March (last month they were off : projection was lower than the actual increase). More importantly the price per square feet increased from 8$ in the 50 to 100k price range, and up to $14 in the 200-250k, and $11 in the 400 to 450 range, with an average of $10/SQ.FT.
This is all good for home sellers and may be indicating to buyers that time to make a decision to move forward or be willing to pay more with fewer choices.
