phoenix az market updates october 2012

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 - [email protected]

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

==

±+

±+

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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±+

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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.

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Single Family Homes in

Katy Katz, Associate Broker at Solutions Real Estate | www.KatyKatz.com | 602-618-0917


City OverviewPHOENIX, AZ


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

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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.


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.


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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.


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.

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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.


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.


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phoenix az market updates october 2012

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