Phoenix Area Real Estate Update – March 3, 2008


Valleywide, all dwellings

Actives: 55,690

Unsold: 50,911

Under Contract in the Last 30 Days: 4,779 (9% of actives)

Valleywide, single family dwellings

Actives: 45,708

Unsold: 41,598

Under Contract in the Last 30 Days: 4,110 (9% of actives)

Valleywide, luxury homes

Actives: 3,253

Unsold: 3,119

Under Contract in the Last 30 Days: 134 (4% of actives)

East Valley, all dwellings

Actives: 19,366

Unsold: 17,494

Under Contract in the Last 30 Days: 1,872 (10% of actives)

Analysis

Headed in a new direction, the active Phoenix housing inventory has actually decreased since last week.  Can you believe it?  Believe it!  Going along with that trend, the number of unsold listings decreased as well.

Not only did the total number of active listings across Phoenix decrease, the number of active listings also decreased in the micro-markets that we track, which include Single Family Homes, Luxury Homes, and East Valley Homes.  More exciting signs of a market trying to normalize!

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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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