03 12 Market Update [Sf] Az Phoenix
Content
Kelli Grant Realty Group MARKET UPDATE
PHOENIX, AZ
· Current Real Estate Market Conditions for Single Family Homes · Trends in Pricing · Current Levels of Supply and Demand · Value Metrics
· Report for the week of March 12, 2012
· Presented by Kelli Grant Group Moving People Through Good Deeds Platinum Premier Realty [email protected] (623) 239-4402
Powered by Altos Research LLC | www.altosresearch.com | Copyright ©2005-2010 Altos Research LLC
City Overview
Kelli Grant Group | www.PhoenixHomeResource.com
Single Family Homes in
PHOENIX, AZ
This Week
The median list price in PHOENIX, AZ this week is $155,000. The 3313 properties have been on the market for an average of 124 days.
Median List Price Average List Price
Real-Time Market Profile
$ 155,000 $ 275,514 $ 87 124 3313 $ 8,990,000 $ 12,900 30 28 % n/a 7% 1862 2.5 - 5.0 acres 3.0 2.0
Trend
±+ ±+ ≠≠ ±+
Asking Price Per Square Foot Average Days on Market (DoM) Inventory of Properties Listed Most Expensive Listing
The Market Action Index has been trending down recently, but as dayson-market decreases also, there are not strong signals for the direction of the market.
Least Expensive Listing Average Age of Listing Percent of Properties with Price Decrease Percent Relisted (reset DOM) Percent Flip (price increased) Median House Size (sq ft) Median Lot Size Median Number of Bedrooms
Supply and Demand
The market has shown some evidence of slowing recently. Both prices and inventory levels are relatively unchanged in recent weeks. Watch the Market Action Index for changes as it can be a leading indicator for price changes.
Median Number of Bathrooms
Altos Research Value Statistics
Market Action Index Buyer's Advantage 24.2 ≠≠ The Market Action Index answers the question "How's the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies a seller's advantage. Below 30, conditions give the advantage to the buyer.
Trend Key:
±+
No change
== Strong upward trend ≠≠ Strong downward trend = Slight upward trend ≠ Slight downward trend
Characteristics per Quartile
Quartile
Top/First Upper/Second Lower/Third Bottom/Fourth
Median Price Sq. Ft. Lot Size Beds Baths Age Inventory New Absorbed DOM
$ 484,950 $ 219,895 $ 119,000 $ 58,200
3266 2082
2.5 - 5.0 acres 2.5 - 5.0 acres
4.0 3.0 3.0 3.0
3.0 2.0 2.0 2.0
19 18 28 40
828 828 828 829
75 118 109 76
72 96 123 123
167 115 111 104
Most expensive 25% of properties Upper-middle 25% of properties Lower-middle 25% of properties Least expensive 25% of properties
1585 not available 1340 not available
Page 2 of 6
Monday March 12, 2012
City Overview
Single Family Homes in
Kelli Grant Group | www.PhoenixHomeResource.com
PHOENIX, AZ
Median Price
Despite this week's up tic, the market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this shift.
7-day Average
90-day Average
Quartile Prices
Prices 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
Monday March 12, 2012
City Overview
Single Family Homes in
Kelli Grant Group | www.PhoenixHomeResource.com
PHOENIX, AZ
Price per Square Foot
The market plateau is seen across the price and value. The price per square foot and median list price have both been reasonably stagnant. Watch the Market Action Index for persistent changes as a leading indicator before the market moves from these levels.
7-day Average
90-day Average
Inventory of Properties Listed for Sale
Inventory has been relatively steady around these levels in recent weeks.
7-day Average
90-day Average
Page 4 of 6
Monday March 12, 2012
City Overview
Single Family Homes in
Kelli Grant Group | www.PhoenixHomeResource.com
PHOENIX, AZ
Market Action Index
The PHOENIX market is currently in the Buyer's Advantgae zone (below 30), though not strongly so. The 90-day Market Action Index stands this week at 24.25 so buyers should expect to find reasonable levels of selection.
90-day Average
Buyers/Sellers Cutoff
Market Action Index per Quartile
Three of the four quartiles of the market are in the Buyer's Market zone with several months of inventory given the current rate of demand for homes in the quartile. Notice that Quartile 1 (the highest price group) is showing stronger demand than the others. Current supply/demand levels identify Quartile 1 as a Seller's market as buyers seem to be placing emphasis on the premium 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 characterized by analyzing those factors. Watch this index for sustained changes: if the index falls into the Buyer’s Advantage zone (below 30) for a long period, prices are likely in for a downward correction.
Page 5 of 6
Monday March 12, 2012
City Overview
Single Family Homes in
Kelli Grant Group | www.PhoenixHomeResource.com
PHOENIX, AZ
Days on Market
The properties have been on the market for an average of 124 days. Half of the listings have come newly on the market in the past 77 or so days.
7-day Average
90-day Average
Days on Market per Quartile
It 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
Monday March 12, 2012
PHOENIX, AZ
· Current Real Estate Market Conditions for Single Family Homes · Trends in Pricing · Current Levels of Supply and Demand · Value Metrics
· Report for the week of March 12, 2012
· Presented by Kelli Grant Group Moving People Through Good Deeds Platinum Premier Realty [email protected] (623) 239-4402
Powered by Altos Research LLC | www.altosresearch.com | Copyright ©2005-2010 Altos Research LLC
City Overview
Kelli Grant Group | www.PhoenixHomeResource.com
Single Family Homes in
PHOENIX, AZ
This Week
The median list price in PHOENIX, AZ this week is $155,000. The 3313 properties have been on the market for an average of 124 days.
Median List Price Average List Price
Real-Time Market Profile
$ 155,000 $ 275,514 $ 87 124 3313 $ 8,990,000 $ 12,900 30 28 % n/a 7% 1862 2.5 - 5.0 acres 3.0 2.0
Trend
±+ ±+ ≠≠ ±+
Asking Price Per Square Foot Average Days on Market (DoM) Inventory of Properties Listed Most Expensive Listing
The Market Action Index has been trending down recently, but as dayson-market decreases also, there are not strong signals for the direction of the market.
Least Expensive Listing Average Age of Listing Percent of Properties with Price Decrease Percent Relisted (reset DOM) Percent Flip (price increased) Median House Size (sq ft) Median Lot Size Median Number of Bedrooms
Supply and Demand
The market has shown some evidence of slowing recently. Both prices and inventory levels are relatively unchanged in recent weeks. Watch the Market Action Index for changes as it can be a leading indicator for price changes.
Median Number of Bathrooms
Altos Research Value Statistics
Market Action Index Buyer's Advantage 24.2 ≠≠ The Market Action Index answers the question "How's the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies a seller's advantage. Below 30, conditions give the advantage to the buyer.
Trend Key:
±+
No change
== Strong upward trend ≠≠ Strong downward trend = Slight upward trend ≠ Slight downward trend
Characteristics per Quartile
Quartile
Top/First Upper/Second Lower/Third Bottom/Fourth
Median Price Sq. Ft. Lot Size Beds Baths Age Inventory New Absorbed DOM
$ 484,950 $ 219,895 $ 119,000 $ 58,200
3266 2082
2.5 - 5.0 acres 2.5 - 5.0 acres
4.0 3.0 3.0 3.0
3.0 2.0 2.0 2.0
19 18 28 40
828 828 828 829
75 118 109 76
72 96 123 123
167 115 111 104
Most expensive 25% of properties Upper-middle 25% of properties Lower-middle 25% of properties Least expensive 25% of properties
1585 not available 1340 not available
Page 2 of 6
Monday March 12, 2012
City Overview
Single Family Homes in
Kelli Grant Group | www.PhoenixHomeResource.com
PHOENIX, AZ
Median Price
Despite this week's up tic, the market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this shift.
7-day Average
90-day Average
Quartile Prices
Prices 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
Monday March 12, 2012
City Overview
Single Family Homes in
Kelli Grant Group | www.PhoenixHomeResource.com
PHOENIX, AZ
Price per Square Foot
The market plateau is seen across the price and value. The price per square foot and median list price have both been reasonably stagnant. Watch the Market Action Index for persistent changes as a leading indicator before the market moves from these levels.
7-day Average
90-day Average
Inventory of Properties Listed for Sale
Inventory has been relatively steady around these levels in recent weeks.
7-day Average
90-day Average
Page 4 of 6
Monday March 12, 2012
City Overview
Single Family Homes in
Kelli Grant Group | www.PhoenixHomeResource.com
PHOENIX, AZ
Market Action Index
The PHOENIX market is currently in the Buyer's Advantgae zone (below 30), though not strongly so. The 90-day Market Action Index stands this week at 24.25 so buyers should expect to find reasonable levels of selection.
90-day Average
Buyers/Sellers Cutoff
Market Action Index per Quartile
Three of the four quartiles of the market are in the Buyer's Market zone with several months of inventory given the current rate of demand for homes in the quartile. Notice that Quartile 1 (the highest price group) is showing stronger demand than the others. Current supply/demand levels identify Quartile 1 as a Seller's market as buyers seem to be placing emphasis on the premium 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 characterized by analyzing those factors. Watch this index for sustained changes: if the index falls into the Buyer’s Advantage zone (below 30) for a long period, prices are likely in for a downward correction.
Page 5 of 6
Monday March 12, 2012
City Overview
Single Family Homes in
Kelli Grant Group | www.PhoenixHomeResource.com
PHOENIX, AZ
Days on Market
The properties have been on the market for an average of 124 days. Half of the listings have come newly on the market in the past 77 or so days.
7-day Average
90-day Average
Days on Market per Quartile
It 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
Monday March 12, 2012
