Tempe's housing market continue to out pace the valley averages. Due to it's location, Arizona State University, and being landlocked, Tempe continues to be a desirable city.
Good News: Total active listings have risen by 282 units over the beginning of last month. As of October 8, we sit at 27,268 Actives for Single Family Homes and Condos. Sales are at 8111 for the last 30 days (as of October 8), down by 328 from August. We are currently sitting at a 3.4 months of supply. If you subtract out the AWC Contracts (which are included in Actives in the Cromford Report), we are at 2.6 months of supply. Traditionally, 3-4 months of supply indicate a balanced market.
Distressed Market: Short Sales represent 26% of the Closings for September (compared to 25% in August) and 38% of the active Listings for a 4.9 Months of Supply. Distressed Sales (Short Sales and REOs combined) accounted for 64% of the total sales for September. This is down 2% from last month! The listing success rate for Short Sales is 64.3%! Don't avoid these listings! They are closing with greater success rate!
Closings: There were 7676 closings in September 2011 vs. 6653 closings in September 2010. This is a 15% increase. (The number includes Maricopa County new construction and re-sales.)
Reality Check: The Median Sold Price for Maricopa County for September 2011 was $125,000 - a 5% increase over August!. In September 2006, the Median Sold Price was $258,844! In September 2000, the Median Sold Price was $137,000.
East Valley = 2.6 month supply of homes
If you are interested in what your home is currently worth or would like information on purchasing, please contact me at 480-355-8645 or gina@locatearizonahomes.com for a Free Market Analysis or Buyer Information Packet. You may also view my Featured Properties at www.LocateArizonaHomes.com
Location Characteristics: Tempe is home the America's largest university, Arizona State. Tempe is a diverse community of students from across the globe to million dollar subdivisions. It is landlocked between Phoenix, Chandler, and Scottsdale. Tempe offers wonderful entertainment with Mill Ave. restaurants and clubs, Tempe Town Lake, Big Sur waterpark, and Kiwanis Park. Tempe is also host the Rock n Roll Marathon and a triathlete event. Tempe is a considered a very desirable community ue to it's location and amenties.
Myself, my husband Dan and our two children live in Ashley Park of Chandler. We have relocated around the country with corporate relocations before finally settling in Arizona over fifteen years ago. My personal experience with buying and selling as well as my business education gives me a unique perspective in helping my clients with their needs. I am also active in my community. donating time to our HOA and my church. I also am a sponsor of Phoenix Rescue Mission, Food for the Hungry, and SAARC.
I'm dedicated to selling homes in Arizona. I have over 13 years of experience and with awards such as "Multi-Million Dollar Producer," and the prestigious "RE/MAX Platinum & Hall of Fame" awards, you know I'm a dedicated professional working with you to achieve your home selling or purchase goals.
I'm a Certified Residential Specialist, Certified Distressed Property Expert, Certified Investor Agent Specialist, Short Sale and Foreclosure Resource Specialist, and an Accredited Buyer Representative. My experience, additional levels of education, and certifications means there is no other agent more suited to help you buy your new home or sell your current one.
After all, our goal is to "Locate your Arizona Home"!
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
