Uptick In Home Sales In Mesa
So far, 2010 has been a better year for the housing market in Phoenix and surrounding areas of Arizona
. As of the most recent market break down report, inventories have increased by 1%, and 7093 properties went to closing in just one month. 27,594 properties are for sale as of the March 15 report.
Right now, it looks like the number of homes that are selling is better than the number was in 2009. Pending sales have increased by more than 40% since the first of this year, which will really increase the number of closings over the next couple of months. There were 27,594 single family detached homes on the market, as of March 15th. The present market inventory of homes, with 7093 homes going to closing in the last month, is 4 months.
5,681 properties are for sale in the Phoenix area, which reflects a 1% increase over the last reported numbers. There have been 1629 closings in the last month, which is about a 3 1/2 month supply. The West Valley area has a better market right now. In fact, it is the best place in all of Arizona. There are 6,489 houses for sale, with 2,118 closings, which translates to a supply that will last 3 months. The cities in West Valley are Buckeye, Avondale, Tolleson, Goodyear, El Mirage, Youngtown, Sun City, Peoria, and Glendale.
In third place, with 6,289 listings currently available, and 1676 homes closed for the same period of time, the Southeast Valley of Tempe, Gilbert, Chandler, Mesa, and Apache Junction are averaging a 3 3/4 month supply. Since the previous report, the cities of the Northeast Valley, including Fountain Hills, Carefree, Scottsdale, Cave Creek, and Paradise, saw no change as they are still seeing a 7 1/2 month inventory, with 560 closings, and 4,212 currently available properties.
In Scottsdale, there were 354 closings in the under $1m market and 1981 active listings, and 53 closings in the over $1m market, where there were 965 active listings. Inventories were down 4% since last report in the over $1m market, and up 2% in the under $1m market.
Hopefully the housing market for Phoenix and the encompassing regions keeps improving, and the overall trend remains intact. For anyone looking to sell their house in the area, as well as for home purchasers and the communities we all love too, this is terrific news!
by: Logan Oulman
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