June 2009 Phoenix Real Estate Market
Phoenix Real Estate Market – June 2009
June’s Initial Numbers
·Closed: 9,243 about the same as May 09, +61% June 08. >>> YTD 44,946
·Average Sales Price: $171,000 up from $163,500 in 5/09
·Median Sales Price: $125,000 up from $119,900 in 5/09
The ship is turning.
The overall market continues to remain at a 3.5 months supply.
Inventories continue to drop approximately 300 to 500 units a week.
Still 94% of the sales are under $400,000.
* Real Estate Owned (REO’s) Closed: 5,247 or 57% of closed.
The REO (bank owned) inventory has dropped dramatically we are now down to under 5,000 units on the market. The REO Sales has gone from 66% to 57% in one month, due to a lack of inventory. The good new is there are more “normal” sales coming through!
Short Sales: Creeping up with 7,281 Active (23%),
+4,500 AWC’s,
2,912 Pending (23%) = 34% of the pendings
1,325 Closed (14%) = 13% of the sales
June Pending sale are currently 6,068
We have the latest numbers for cities, zip codes or specific communities.
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