Phoenix Real Estate Market Update

Here is a brief synopsis of the Phoenix real estate market for November 2011. This information is pulled directly from the Arizona Regional MLS system.

There were 1,889 property sales in November. That’s down from 2,029 sales recorded in October, but up from November 2010, when there were 1,677 sales.

Year-to-date sales of 23,696 are up 17.7 percent compared with the first 11 months of 2010 when there were 20,130.

Both median and average sales prices were up from the previous month and from a year ago. The November median price was $88,000, as compared with $83,000 in October and $80,000 in November 2010. The average price was $130,623, as compared with $118,564 last month and $121,913 in November 2010.

Total inventory of properties was down dramatically from a year ago — by nearly 50 percent. There were 5,451 total properties for sale, as compared with 5,604 in October and 10,745 in November 2010.

Average days on the market for November stood at 59, as compared with 60 in October and 67 in November 2010.

The ratio of selling price to listing price was 98.9 percent, down from 99.2 percent in October but up from 96.3 percent in November 2010.

The number of new listings in November was 2,066, down from 2,286 in October and 2,855 in November 2010.

 

Please give me a call at (602) 791-0536 with any questions about Phoenix or Scottsdale real estate. When you are ready to look at homes in person, I would love to give you a personal tour of any Scottsdale AZ homes for sale.

Carmen Brodeur JD
Realtor
Trillium Properties, LLC
9825 E Bell Road, Suite 120, Scottsdale AZ 85260
(602) 791-0536
Carmen@TopScottsdaleHomes.com
www.TopScottsdaleHomes.com