Valleywide, all dwellings
Under Contract in the Last 30 Days: 4,495 (8% of actives)
Valleywide, single family dwellings
Under Contract in the Last 30 Days: 3,890 (9% of actives)
Valleywide, luxury homes
Under Contract in the Last 30 Days: 130 (4% of actives)
East Valley, all dwellings
Under Contract in the Last 30 Days: 1,736 (9% of actives)
Similar to last week, the Phoenix real estate market experienced some positive changes again this week! For the fifth week in a row, the number of homes under contract in Phoenix has increased. The total inventory also increased, but by a smaller margin, so at least the market is still turning over.
The number of single family homes under contract also increased, this week to 9% of the active listings. That’s incredible! We’re headed in the direction of late-2006 levels of activity.
The luxury home market took a noticeable dip in sales this past week, but the luxury home market often moves independently of the overall real estate market. Moving back to good news, once again the East Valley real estate market continues to impress us! It, too, saw the highest number of homes go under contract in the last five weeks. Way to go Phoenix!
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