Weekly House Inventory Level in Phoenix AZ and area

Weekly Inventory Level comparison

As of Friday, 2/8/08

Total homes available for sale increased by 369, or about 1% over last week. Current rate of closings remains low due to the fact that it is reflecting activity from the end of the year. Closes in the previous month were 2405 which gives us a supply of 19 months, a slight improvement over last week
Current Pendings continue to increase. The good news is these are at the highest level that I have seen since last August PM (Pre-Meltdown). This should translate in to more closings in the next month.

Best market in the Valley continues to be the SE area at 16 months supply and next is Scottsdale under $1M at 16 3/4 months.

The comparison of current active listing change is based on the previous week’s inventory. Supply numbers are based on the number of closings in the previous month, divided in to the total number of active listings. This data is for Single Family Detached homes only and does not include patio homes, condos, or town homes.
Entire MLS (Maricopa and Northern Pinal county), listing inventories are up 1% from last week. Total of 45783 active listings. Based on current rate of closings, about a 19 month supply.
200’s area (Central Phoenix). Listing inventories are up 1% from last week. Total of 6446 active listings. About a 20 1/2 month supply.

300’s area (West Valley). Listing inventories are unchanged from last week. Total of 15156 active listings. About a 20 1/4 month supply.

400’s area (NE Valley), Listing inventories are up 2% from last week. Total of 7708 active listings. About a 20 3/4 month supply.

500’s area (SE Valley), Listing inventories are up 1% from last week. Total of 11447 active listings. About a 16 month supply.

Scottsdale over $1m. Listings inventories are up 1% from last week.
Total of 1622 active listings. About a 40 1/2 month supply.

Scottsdale under $1m. Listing inventories are up 2% from last week. Total of 2613 active listings. About a 16 3/4 month supply.

Paradise Valley. Listing inventories are up 1% from last week. Total of 426 active listings. About a 38 3/4 month supply.

I hope this information is useful to you.