ARMLS released the STAT April 2016 newsletter, which covers residential real estate data for the Valley of the Sun – Metro Phoenix, AZ. In this month’s issue, Tom Ruff of the Information Market discusses Days on the Market for homes that have Closed and shares some interesting statistics in the graph below. Keep in mind when viewing the data, CDOM – Cumulative Days on Market are based on Closed date taken direct from ARMLS for the first four months of 2016.
CDOM(Cumulative Days on Market) by Sold Price
|Range||Median DOM||Average DOM|
|Greater than $750,000||112||174|
|$500,000 to $750,000||80||126|
|$250,000 to $500,000||61||90|
|Less than $250,000||40||61|
|Less than $200,000||38||60|
|Less than $175,000||37||59|
|Less than $150,000||36||61|
Be sure to check out the STAT highlights below and be sure to read the entire STAT April 2016 newsletter.
April 2016 STAT Highlights
Monthly Sales – 8,293 Units Sold – Down 1.4% from last month. Down 0.9% from last year.
New Inventory – 10,712 Listings – Down 3.1% from last month. Up 6.2% from last year.
Total Inventory – 27,015 Active Listings for Sale. Down 2.4% from last month. Up 4.3% from last year.
Months Supply of Inventory – 3.26 Months. Down slightly from March.
New List Prices – Average List Price is $332.3K. Up 2.2% from last year.
Sales Prices – Average Sales Price is $271.6K. Up 2.3% from last year.
Foreclosures Pending – 4,146 Units – Down 1.0% from last month. Down 25.8% from last year.
Distressed Sales – 326 Units or 3.9% of current total sales in MLS. Down 37.9% from last year.
Average Days on the Market – 78 – Down 3 days from last month. Down 6 days from last year.
If you are a potential home buyer and have questions regarding the current real estate market data in the specific area where you are planning to purchase, be sure to consult with your Realtor or feel free to Contact US.
If you would like to search homes for sale throughout the Valley of the Sun, be sure to visit our Home Search Page.
Arizona Regional Multiple Listings Service’s (ARMLS®) monthly statistical newsletter STAT, provides a timely view of what is happening to the residential real estate market in the Valley of the Sun – The Metro Phoenix Area. Unlike statistics compiled by other entities, it does not rely on third party data. STAT’s focus is on SALES and ACTIVE INVENTORY, year over year and month over month, including details on sales prices, foreclosures and short commentary.