Market Conditions for Phoenix, Arizona Reported by Anna Tseplaeva, GRI, e-PRO Updated June 6, 2008.

Current Market Rating: 1 1 2 3 4 5 Buyer's Seller's

Current Price Trend: 2 1 2 3 4 5 Falling Rising

The average sales price of a home in Phoenix in May was $220,806. There's a slight decrease compared to the April's average sales price of $222,108. However, the price continues to decline compared to average sales price in March and February that was $237,767 and $228,037 respectfully.
There are currently 10179 active homes for sale in Phoenix, excluding townhomes and condos, ranging from $32,900 to $12,000,000 (14000 sq.ft home).

Major development in North Phoenix is on the way. It's an exceptional, mixed-use development of over 5.5 million square feet, CityNorth. CityNorth will be located east of DesertRidge just on the border with North Scottsdale and west of One Scottsdale, another major mixed-use development in North Scottsdale. CityNorth will offer the opportunity to create an interactive lifestyle with a synergistic mix of retail, restaurant, residential, hotel, office, cultural, civic, entertainment and fitness uses. For more information please visit the following site:
http://www.citynorthaz.com/

STATISTICS for MARICOPA County:

For the month of MAY'08:
Number of residential homes sold - 3779
Average Listing Price - $302,296
Average Selling Price - $313,268
Selling Price Percent of Listing Price - 95.27%
Average Days on Market - 141

For the month of APRIL'08:
Number of residential homes sold - 3710
Average Listing Price - $314,120
Average Selling Price - $279,961
Selling Price Percent of Listing Price - 94.95%
Average Days on Market - 134

For the month of MARCH'08:
Number of residential homes sold - 2940
Average Listing Price - $317,805
Average Selling Price - $303,778
Selling Price Percent of Listing Price - 94.83%
Average Days on Market - 144

For the month of FEBRUARY'08:
Number of residential homes sold - 3683
Average Listing Price - $316,285
Average Selling Price - $308,328
Selling Price Percent of Listing Price - 94.73%
Average Days on Market - 136

For the month of JANUARY'08:
Number of residential homes sold - 3582
Average Listing Price - $330,481
Average Selling Price - $317,334
Selling Price Percent of Listing Price - 94.07%
Average Days on Market - 130

For the month of DECEMBER'07:
Number of residential homes sold - 2867
Average Listing Price - $338,160
Average Selling Price - $319,223
Selling Price Percent of Listing Price - 95.13%
Average Days on Market - 141

For the month of NOVEMBER'07:
Number of residential homes sold - 3165
Average Listing Price - $361,364
Average Selling Price - $319,411
Selling Price Percent of Listing Price - 95.45%
Average Days on Market - 129

For the month of OCTOBER'07:
Number of residential homes sold - 3423
Average Listing Price - $366,104
Average Selling Price - $327,613
Selling Price Percent of Listing Price - 95.71%
Average Days on Market - 122

For the month of SEPTEMBER'07:
Number of residential homes sold - 3402
Average Listing Price - $343,285
Average Selling Price - $321,336
Selling Price Percent of Listing Price - 95.71%
Average Days on Market - 115

For the month of AUGUST'07:
Number of residential homes sold - 4344
Average Listing Price - $352,898
Average Selling Price - $347,549
Selling Price Percent of Listing Price - 96.40%
Average Days on Market - 118

For the month of JULY'07:
Number of residential homes sold - 4728
Average Listing Price - $371,682
Average Selling Price - $347,715
Selling Price Percent of Listing Price - 96.08%
Average Days on Market - 124

For the month of JUNE'07:
Number of residential homes sold - 5438
Average Listing Price - $402,073
Average Selling Price - $342,654
Selling Price Percent of Listing Price - 96.05%
Average Days on Market - 115

For the month of MAY'07:
Number of residential homes sold - 5737
Average Listing Price - $419,841
Average Selling Price - $ 354,246
Selling Price Percent of Listing Price - 96.15%
Average Days on Market - 110

For the month of APRIL' 07:
Number of residential homes sold - 5482
Average Listing Price - $358,038
Average Selling Price - $326,409
Selling Price Percent of Listing Price - 96.30%
Average Days on Market - 110

For the month of MARCH' 07:
Number of residential homes sold - 5972
Average Listing Price - $369,433
Average Selling Price - $340,567
Selling Price Percent of Listing Price - 95.94%
Average Days on Market - 107

For the month of FEBRUARY' 07:
Number of residential homes sold - 4909
Average Listing Price - $355,951
Average Selling Price - $338,122
Selling Price Percent of Listing Price - 96.73%
Average Days on Market - 113

For the month of JANUARY' 07:
Number of residential homes sold - 4366
Average Listing Price - $359,231
Average Selling Price - $344,053
Selling Price Percent of Listing Price - 96.99%
Average Days on Market - 115

For more information on how I can help you with your real estate needs, please feel free to reach me at (602)370-1041 or via email at annatva@cox.net . I can provide you with the information on everything from how to prepare your home to sell, how to find your next home and to the right financing.

ZIP Codes: too, many, to, list

Location Characteristics: The City of Phoenix is the business and cultural hub of the Southwestern United States. As America's sixth largest city, Phoenix is the heart of a booming metropolis that is consistently one of the fastest growing cities in the nation. With one of the lowest costs of living compared to other major cities, and all the amenities one would expect of a modern metropolitan area, Phoenix is an excellent location for business and citizens to call home.
Get ready for fiery sunsets, challenging sports, remarkable dining, world class resorts and golf courses, a wealth of attractions and a distinctive southwest heritage.
The dry climate and natural beauty has also attracted companies in the fields of electronics, high-tech research and development, and aerospace. Private industry has a dynamic presence in Phoenix, home to manufacturing giants like Honeywell, Motorola, Allied Signal and Intel.
Since 1995, Maricopa County has had an unemployment rate well below national averages and bolstered by a diversified economy and an impressive list of resident high-tech manufacturing firms.
And because of the extremely reasonable cost of living, the exciting high-tech industries, the positive business climate and the great community benefits found here, it's easy to understand why people are packing their bags and migrating to the desert. These characteristics combine to keep Phoenix among one of the country's premier relocation destinations.

PHOENIX QUICK FACTS
• Phoenix is the 6th largest city in the country with an estimated population of more than 1.3 million.
• The Phoenix metro area covers 2,000 square miles.
• Phoenix's elevation is 1,117 feet.
• The Valley of the Sun is located in the heart of the Sonoran Desert.
• The Valley averages 306 sun-filled days per year.
• Phoenix has an average annual rainfall of 7.66 inches and an average annual high temperature of 85 degrees.
The Phoenix area has more Five Diamond/Five Star resorts than any city in the country.
• Sky Harbor International Airport is served by 14 major airlines. More than 10 million people visit Phoenix each year. More than 24 million people visit Arizona each year.


For More Information:

• View My Newsletter
  
• Ask Me A Question