Phoenix Real Estate Inventory through July 30, 2007
Posted on July 30th, 2007 by Jonathan Dalton
This week’s Phoenix Real Estate Market Inventory update …
Absorption rates for Maricopa County, which consists mostly of the Phoenix real estate market, climbed above the one-year mark as sales fell to February levels. Net inventory rose to just shy of 39,000 homes on the market, an increase of more than 10,000 single-family homes over the past five months.
Even Tempe, the one sellers’ market in the Valley, jumped into “neutral” territory as sales ironically have slowed in advance of Arizona State University going back into session.
One relocation company with which I’m working has suggested open houses and Realtor tours as the best way of selling a home in a hurry here in the Phoenix area. In truth, marketing can help in getting one home viewed rather than another if all other things are equal. But price is going to be the primary factor in determining whether a house sells.
| CITY | SOLD 6/30/07-7/30/07 | ACTIVE 7/30 | Absorption Rate
as of 7/30/07 |
Change | Buyer/Seller |
| Ahwatukee | 11 | 96 | 8.73 | 2.59 | Buyer |
| Anthem | 31 | 725 | 23.39 | 6.22 | Buyer |
| Avondale | 65 | 1,091 | 16.78 | 2.67 | Buyer |
| Buckeye | 46 | 1,053 | 22.89 | 2.55 | Buyer |
| Carefree | 2 | 97 | 48.50 | 24.00 | Buyer |
| Cave Creek | 54 | 562 | 10.41 | 0.85 | Buyer |
| Chandler | 248 | 2,376 | 9.58 | 1.52 | Buyer |
| Desert Hills | 11 | 182 | 16.55 | -5.58 | Buyer |
| El Mirage | 29 | 490 | 16.90 | 3.17 | Buyer |
| Fountain Hills | 25 | 407 | 16.28 | 3.47 | Buyer |
| Gilbert | 224 | 2,628 | 11.73 | 2.37 | Buyer |
| Glendale | 197 | 2,425 | 12.31 | 0.75 | Buyer |
| Goodyear | 80 | 1,219 | 15.24 | -0.31 | Buyer |
| Laveen | 32 | 526 | 16.44 | 3.51 | Buyer |
| Litchfield Park | 29 | 509 | 17.55 | 0.00 | Buyer |
| Maricopa | 69 | 996 | 14.43 | 1.14 | Buyer |
| Mesa | 312 | 3,407 | 10.92 | 1.34 | Buyer |
| Paradise Valley | 15 | 285 | 19.00 | 4.80 | Buyer |
| Peoria | 126 | 2,023 | 16.06 | 3.13 | Buyer |
| Phoenix | 769 | 9,707 | 12.62 | 1.65 | Buyer |
| Queen Creek | 115 | 2,061 | 17.92 | 2.28 | Buyer |
| Scottsdale | 267 | 3,379 | 12.66 | 1.48 | Buyer |
| Sun City | 50 | 482 | 9.64 | 2.50 | Buyer |
| Sun City West | 40 | 402 | 10.05 | 2.07 | Buyer |
| Surprise | 155 | 2,131 | 13.75 | 2.22 | Buyer |
| Tempe | 86 | 502 | 5.84 | 1.32 | Neutral |
| Tolleson | 17 | 470 | 27.65 | 6.37 | Buyer |
| Waddell | 6 | 122 | 20.33 | 4.33 | Buyer |
| TOTAL | 3,035 | 38,906 | 12.85 | 1.89 | Buyer |
Data provided by ARMLS. Data deemed reliable but not guaranteed
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