Phoenix Area Real Estate Update – December 17, 2007


Valleywide, all dwellings

Actives: 56,025

Unsold: 52,977

Under Contract in the Last 30 Days: 3,048 (5% of actives)

Valleywide, single family dwellings

Actives: 45,939

Unsold: 43,370

Under Contract in the Last 30 Days: 2,569 (6% of actives)

Valleywide, luxury homes

Actives: 3,160

Unsold: 3,051

Under Contract in the Last 30 Days: 109 (3% of actives)

East Valley, all dwellings

Actives: 19,158

Unsold: 17,899

Under Contract in the Last 30 Days: 1,259 (7% of actives)

Analysis

As we near the height of the holiday season, the Phoenix real estate market expectedly has the lowest inventory of homes for sale that it has had in more than two months and is experiencing a slight dip in houses under contract.  It’s not all bad news, though.  This is a common time of year for sellers to re-examine their strategies and/or take their homes off of the market.  Buyers should be taking advantage of this lull and take a look at all the great deals out there (and we’re talking about at the malls)!  And continuing its trend over the last two months, the Phoenix East Valley is still selling better than the valley average.  Way to go!

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About Doug Hill

Doug Hill is an Associate Broker with Coldwell Banker Residential Brokerage, and founded The Hill Group with his wife, Kirsten in 2003. Combined, they have helped over 1,000+ clients buy and sell homes in the Phoenix Metropolitan Area. Doug holds a Bachelor's Degree in Business Management & Economics, and is a Navy veteran. He is an active member of the Southeast Valley Regional Association of Realtors on their Professional Standards Board, and he and his wife have had the #1 team for Coldwell Banker in Arizona for multiple years in a row. He loves to read, travel, and spend time with his family and friends.
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