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Phoenix Real Estate Inventory Update: June 10

Posted on June 10th, 2008 by Jonathan Dalton

We gave you the sexy Bullwinkle-based commentary earlier; now it’s time for the raw data from the Phoenix real estate market, as provided by the Arizona Regional MLS.

As I mentioned earlier, we are at 9.1 months of inventory for single family detached homes here in Maricopa County. Bank owned homes, also known as REOs and foreclosures, are moving at a substantially brisker pace - 1,218 sales the last 30 days against 4,368 active listings for an absorption rate of 3.58 months.

Ahwatukee has joined Queen Creek as a sellers’ market - a market with less than five months of inventory at current sales pace. Anthem, Maricopa, Surprise and Tempe all are in the balanced market range - between five and six months of inventory.

As always, all of the data is provided by the Arizona Regional MLS and is deemed reliable but not guaranteed.

Phoenix Real Estate Inventory: June 10

	Sold	Active	Absorption
City	5/10/08-6/10/08	6/10/08	Rate	Change
Ahwatukee	14	58	4.14	-0.86
Anthem	87	478	5.49	-0.61
Avondale	146	921	6.31	-0.70
Buckeye	96	1,113	11.59	0.87
Carefree	3	127	42.33	-0.33
Cave Creek	20	565	28.25	3.55
Chandler	283	1,910	6.75	0.14
Desert Hills	5	160	32.00	8.14
El Mirage	53	442	8.34	-0.30
Fountain Hills	29	516	17.79	0.45
Gilbert	344	2,171	6.31	-0.43
Glendale	236	2,047	8.67	0.30
Goodyear	136	917	6.74	0.36
Laveen	48	498	10.38	-1.75
Litchfield Park	50	452	9.04	-0.53
Maricopa	144	827	5.74	0.11
Mesa	390	3,292	8.44	0.03
Paradise Valley	17	450	26.47	1.58
Peoria	199	1,649	8.29	0.57
Phoenix	888	10,186	11.47	-0.18
Queen Creek	360	1,597	4.44	0.05
Scottsdale	314	4,040	12.87	-0.95
Sun City	71	507	7.14	0.18
Sun City West	71	453	6.38	0.03
Surprise	275	1,583	5.76	-0.26
Tempe	99	510	5.15	0.44
Tolleson	54	424	7.85	0.45
Waddell	6	120	20.00	-1.17
Total	4,082	37,158	9.10	-0.06