phoenix az market updates october 2012
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MARKET UPDATESolutions Real Estate
· Current Real Estate Market Conditions for Single Family Homes· Trends in Pricing· Current Levels of Supply and Demand· Value Metrics
· Report for the week ofOctober 15, 2012
· Presented by David DionSolutions Real Estatewww.SolutionsRealEstate.com - dave@solutionsrealestate.com480-332-5942
PHOENIX, AZ
Powered by Altos Research LLC | www.altosresearch.com | Copyright ©2005-2010 Altos Research LLC
Median List Price
Median Lot Size
25.9
Percent Relisted (reset DOM)
1816
2.0
9 %
Median Number of Bathrooms
101
Inventory of Properties Listed
$ 101
Percent Flip (price increased)
2.5 - 5.0 acres
Median House Size (sq ft)
$ 180,000
29 %
3.0
Market Action Index
Median Number of Bedrooms
Asking Price Per Square Foot
n/a
Percent of Properties with Price Decrease
Buyer's Advantage
==
±+
±+
≠≠
≠≠
Altos Research Value Statistics
Most Expensive Listing
Average Days on Market (DoM)
Bottom/Fourth
Lower/Third
Upper/Second
Top/First
This Week Real-Time Market Profile Trend
The Market Action Index answers the question "How's the Market?" by measuringthe current rate of sale versus the amount of the inventory. Index above 30implies a seller's advantage. Below 30, conditions give the advantage to thebuyer.
Supply and Demand
Characteristics per Quartile
20 633122
912.0 32
3.0
143
90
3.0 837
89
111
106
10 - 20 acres
41
$ 139,000
134
101
837
3.0
6,501 -8,000 sqft
952.0
1320 6,501 -8,000 sqft
836
$ 70,000
3.0
136
0.25 - 0.50acre$ 249,000
4.0$ 485,000
19
107
2020
Inventory is up and Market Action istrending down recently. While days-on-market appears to be trendinglower, the overall conditions areweakening a bit.
Monday October 15, 2012
David Dion | Solutions Real Estate | 480-332-5942 | www.
836
1566
2.0
The median list price in PHOENIX, AZthis week is $180,000. The 3346properties have been on the marketfor an average of 101 days.
Most expensive 25% of properties
Upper-middle 25% of properties
Lower-middle 25% of properties
Least expensive 25% of properties
Quartile Median Price Lot Size Beds Baths Age Inventory New Absorbed DOMSq. Ft.
No change
Strong upward trend Strong downward trend
Slight upward trend Slight downward trend±+
== ≠≠
≠=
PHOENIX, AZCity Overview
Least Expensive Listing
Average List Price
Average Age of Listing
3346
$ 10,800,000
$ 13,000
$ 284,160
32
Trend Key:
The market has shown someevidence of slowing recently. Bothprices and inventory levels arerelatively unchanged in recentweeks. Watch the Market ActionIndex for changes as it can be aleading indicator for price changes.
Page 2 of 6
Single Family Homes in
Katy Katz, Associate Broker at Solutions Real Estate | www.KatyKatz.com | 602-618-0917
David Dion | Solutions Real Estate | 480-332-5942 | www.
City OverviewPHOENIX, AZ
Monday October 15, 2012
Median PriceThe market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability ofthis trend.
90-day Average7-day Average
Quartile PricesPrices have settled at a price plateau across the board. Prices in all four quartiles are basically mixed. Look for a persistent shift(up or down) in the Market Action Index before prices move from these current levels.
First/Top Second/Upper Third/Lower Fourth/Bottom
Page 3 of 6
Single Family Homes in
Katy Katz, Associate Broker at Solutions Real Estate | www.KatyKatz.com | 602-618-0917
David Dion | Solutions Real Estate | 480-332-5942 | www.
City OverviewPHOENIX, AZ
Monday October 15, 2012
Price per Square FootThe market plateau is seen across the price and value. The price per square foot and median list price have both beenreasonably stagnant. Watch the Market Action Index for persistent changes as a leading indicator before the market moves fromthese levels.
90-day Average7-day Average
Inventory of Properties Listed for SaleInventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the MarketAction Index and Days on Market trends to gauge whether buyer interest is keeping up with available supply.
90-day Average7-day Average
Page 4 of 6
Single Family Homes in
Katy Katz, Associate Broker at Solutions Real Estate | www.KatyKatz.com | 602-618-0917
David Dion | Solutions Real Estate | 480-332-5942 | www.
City OverviewPHOENIX, AZ
Monday October 15, 2012
Market Action IndexThe PHOENIX market is currently in the Buyer's Advantgae zone (below 30), though not strongly so. The 90-day Market ActionIndex stands this week at 25.93 so buyers should expect to find reasonable levels of selection.
Buyers/Sellers Cutoff90-day Average
Market Action Index per QuartileThree of the four quartiles of the market are in the Buyer's Market zone with several months of inventory given the current rateof demand for homes in the quartile. Notice that Quartile 1 (the highest price group) is showing stronger demand than theothers. Current supply/demand levels identify Quartile 1 as a Seller's market as buyers seem to be placing emphasis on thepremium homes.
First/Top Second/Upper Third/Lower Fourth/Bottom
Buyers/Sellers Cutoff
Residential house prices are a function of supply and demand, and market conditions can be characterizedby analyzing those factors. Watch this index for sustained changes: if the index falls into the Buyer’sAdvantage zone (below 30) for a long period, prices are likely in for a downward correction.
Page 5 of 6
Single Family Homes in
Katy Katz, Associate Broker at Solutions Real Estate | www.KatyKatz.com | 602-618-0917
David Dion | Solutions Real Estate | 480-332-5942 | www.
City OverviewPHOENIX, AZ
Monday October 15, 2012
Days on MarketThe properties have been on the market for an average of 101 days. Half of the listings have come newly on the market in thepast 50 or so days.
90-day Average7-day Average
Days on Market per QuartileIt is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles.
First/Top Second/Upper Third/Lower Fourth/Bottom
Page 6 of 6
Single Family Homes in
Katy Katz, Associate Broker at Solutions Real Estate | www.KatyKatz.com | 602-618-0917
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