Gilbert Real Estate Blog

Greater Phoenix Real Estate ~ Snapshot of Current Market Conditions ~ 10/6/2009

October 6, 2009 // Comments Off

Take a look… below are a couple of graphs that are worth checking out.  They provide a quick picture of the greater Phoenix real estate market for the past year, September 2008 thru September 2009.

On this first graph, notice the significant drop in Active listings over the past 6 months.  Then take note of the increase in Sold listings over the past 6 months.

On this next chart, you can easily see that we’ve gone from a 13 month supply of inventory (listings) in November 2008 to less than 5 months of inventory for the past 5 months.

On the following graph, do you see the upturn in average prices in the greater Phoenix market over the past 6 months?  Bottom line  >>>  the laws of supply and demand are still as powerful as ever.  Significantly change supply OR demand, and we’ll always see and feel the effect.  Change BOTH supply and demand, and we’ll see and feel MAJOR effects.  Where will we be 6 months from now?  My crystal 8 Ball says, “Undecided”.

The other point I’ll make is that these graphs and charts are based on ‘averages’ in the greater Phoenix real estate market.  ‘Averages’ based on such a huge area can really skew an accurate picture of an individual town or neighborhood – especially if you’re attempting to project future trends.  If you have need of similar information for your subdivision or city, just let me know.

All information, graphs and charts are derived from the Arizona Regional MLS, and while believed to be reliable, cannot be guaranteed.

Posted in arizona market conditions, phoenix market conditions