Phoenix and Scottsdale Housing Inventory is Reducing Quick

Inventory Level – Weekly Comparison



Statistics as of April 3rd, 2009


Positive trends continue to improve as the dynamic change in our market is still steady.

Single Family Detached home availability dropped 4% to 35,394. Closings experienced a strong upward trend in the last month at 7461 to decrease overall supply to 4 ¾ months. January of 2006 was the last time we were below 5 months supply.

A 10% increase was seen in pending sales in one week, as they continued to climb to 13,859!

The best marketing in the Valley at the present time are Phoenix and the West Valley, now at 3 ¾ months each. Close behind is the SE Valley at 4 ¼ months. These are definitely sellers markets!

A 50% increase in the number of pending sales over the last 6 weeks is a positive sign for Scottsdale. Under $ 1M market rose from 351 to 527, and we should begin to see an increase in closings soon.

Over $1M is at just over 3 years supply for Scottsdale! PV is at 7 years. Pendings have increased and the slow closing rate should improve for PV over the next 90 days.

Our market is continuing to experience rapid improvement. Media coverage should lean more toward the positive side soon. A headline on the front page of the Arizona Republic last Saturday was positive for a change!





MLS Statistics
Area Breakdown

Overall Market Since last week, inventories are down 4%. Active listings totaled 35394 with 7461 closings over the last month. This is approximately a 4 ¾ month supply.

Phoenix Since last week, inventories are down 5%. Active listings totaled 7880 with 2140 closings over the last month. This is approximately a 3 ¾ month supply.

West Valley Since last week, inventories are down 6%. Active listings totaled 8482 with 2218 closings over the last month. This is approximately a 3 ¾ month supply.

NE Valley Since last week, inventories are down 2%. Active listings totaled 5510 with 354 closings over the last month. This is approximately a 15 ½ month supply.

SE Valley Since last week, inventories are down 3%. Active listings totaled 8048 with 1848 closings over the last month. This is approximately a 4 ¼ month supply.

Scottsdale Since last week, inventories are down 2%. Active listings totaled 1423 with 36 closings over the last month. This is approximately a 39 ½ month supply.


Scottsdale under $1m Since last week, inventories are down 2%. Active listings totaled 2419 with 225 closings over the last month. This is approximately a 10 ¾ month supply.

Paradise Valley Since last week, inventories are down 1%. Active listings totaled 574 with 6 closings over the last month. This is approximately a 96 month supply.

Maureen Karpinski
Find your Phoenix Arizona Property at Cactus Country Arizona Homes & Properties

PHOENIX PROPERTY CLOSING RATE CLIMBS DRAMATICALLY AS THE AVAILABILITY OF HOMES SEES HUGE DECLINE

PHOENIX PROPERTY CLOSING RATE CLIMBS DRAMATICALLY AS THE AVAILABILITY OF HOMES SEES HUGE DECLINE

Real Estate Weekly Inventory Level Comparison

As of Friday, February 27th, 2009.

Dramatic changes are beginning to take place in our market. The availability of Single Family Detached homes is decreasing, with a drop below 40,000 this week to 39,828. This fact, combined with previous months closings at 5907, left the market supply at 6 3/4 months.

We haven't seen numbers below 40,000 for Single Family Detached homes for sale since March of 2007. May of the same year is the last time we had over 5,900 closings.

There have been no pending sales over the 10,000 mark since June of 2005.

If you read newspapers to keep up with current real estate market conditions, doesn’t it make you wonder where these facts have been misplaced?


Phoenix continues to hold its place as the best market in the Valley presently, at 5 1/4 months. Following are the West Valley at 6 months, and SE Valley at 6 1/2 months.

Sales are still slow in higher end properties, due to the nearly non-existence of realistic financing above conforming amounts of $417,000.

MLS Statistics
Breakdown by Area

Overall Market. Inventories are down 2% from last week. Total of 39828 active listings with 5907 closings in the last month. About an 6 3/4 month supply.

Phoenix. Inventories are down 2% from last week. Total of 9140 active listings with 1753 closings in the last month. About a 5 1/4 month supply.

West Valley. Inventories are down 3% from last week. Total of 10064 active listings with 1675 closings in the last month. About a 6 month supply.
NE Valley.
Inventories are unchanged from last week. Total of 5728 active listings with 328 closings in the last month. About a 17 1/2 month supply.

SE Valley. Inventories are down 3% from last week. Total of 9000 active listings with 1446 closings in the last month. About a 6 1/4 month supply.

Scottsdale over $1m. Inventories are unchanged from last week. Total of 1497 active listings with 34 closings in the last month. About a 44 month supply.

Scottsdale under $1m. Inventories are down 1% from last week. Total of 2491 active listings with 204 closes in the last month. About a 12 1/4 month supply.

ParadiseValley. Inventories are down 1% from last week. Total of 562 active listings wih 15 closes in the last month. About a 37 1/2 month supply.