| 2010 Sees Upward Trend In Home Sales In Mesa And The Surrounding Region |
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| Written by Nathan Oulman |
| Friday, 30 July 2010 13:37 |
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Phoenix and it's neighboring cities in Arizona, have seen an improvement in the housing market, since the beginning of 2010. As of the most recent market break down report, inventories have increased by 1%, and 7093 properties went to closing in just one month. The number of active listings since March 15th, was 27,594.
Phoenix and it's neighboring cities in Arizona, have seen an improvement in the housing market, since the beginning of 2010. As of the most recent market break down report, inventories have increased by 1%, and 7093 properties went to closing in just one month. The number of active listings since March 15th, was 27,594. So far in 2010, home sales are showing gains over last year, and the housing market is steadily making progress. It is expected that there will be a substantial growth in the number of closings in the next few months, thanks to the 40% surge in pending home sales that we are seeing since the beginning of 2010. The number of single family detached homes that were on the market since March 15th, was 27,594. The present market inventory of homes, with 7093 homes going to closing in the last month, is 4 months. Currently, home inventories have increased by 1% since the most recent report, and 5,681 listings are active in Phoenix. Last month, 1629 homes closed, equating to approximately a 3 1/2 month inventory of homes. Right now, the healthiest housing market is the West Valley area, which is inching out Phoenix by just a small amount. With 6,489 current active listings, Peoria, Glendale, Surprise, El Mirage, Sun City, Goodyear, Litchfield Park, Youngtown, Tolleson, and Buckeye, which make up the West Valley, had closed 2118 properties, giving this area a 3 month inventory. 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 the over $1 million market, Scottsdale had 965 active listings and 53 closings, while in the under $1 million market, there were 1981 listings active in the same period, with 354 homes closed. In the over $1 million market, property supplies decreased by 4%, while the under $1 million market saw an increase of 2% in inventories. This is a very encouraging upward trend that we would like to see continue in Phoenix, as well as it's neighboring cities. Home sellers, home buyers, and our neighborhoods on the whole, are enjoying a boost from this trend! DISCLAIMER: This article is provided as information only and is not to be taken as financial advice. Want to find out more about realtor in mesa az, then visit Nathan Oulman's site on how to choose the best realtors in mesa az for your needs. |