Currently over 56,000 homes on the market in Maricopa county.

1) Average Prices - The average price of a residential property increased slightly from 2000 through 2003.  In 2004 you see the average price start to increase and then in 2005 the average list price and sales price increased over $100,000.  During this same time frame you will see the difference in list price and sales price widen.  This past month we saw  the average list price fall by about $25,000. This is something I had expected and was surprised to see the spike that occurred in September.  You will notice that the average list price is over $100,000 higher than the average sales price, this to me shows that there are still many unrealistic sellers in the market and this contributes to the unrealistic list price.  As for sales  price, October saw the average sales price rebound slightly to $327,613.  

2)  Total Solds  -  Sales for   October increased slightly from September, which was the lowest since January 2000.   The amount of total solds holding steady is good considering the negative press real estate has been receiving.  Yet the amount although holding steady is at the lowest levels in the past 7 years.   

    

3) Total New Listings - This is the # of new listings per month.  2007 is trending like 2006, with anywhere from 13,000 to 17,500 new listings per month.   The number of new listings is  up from the prior month . I believe that this is not really new properties coming on the market, but sellers just switching or relisting properties with their agents.

4) Total Pendings -  Pendings  were up ,  this is good, it shows that people are still out in the market buying. 

5) % Sales Price / List Price - Firstly I want to be clear that the list price in this graph is the final list price and does not take into account the original list price and any price reductions that were made to arrive at the final list price before the property went under contract.  As you will see from the graph   October 2007 the % fell to around 95.5%, this is the lowest percentage of sales price to list price, I believe that this percentage will continue to decline as buyers are able to get fantastic deals.   

   

6) Total Average Days on Market -     October   2007 the average days on market  was at  122    which is  up from last month.    This graph shows how crazy 2005 was with the average days on market dropping to under 30 days.  It also reveals that the average days on market has been over 100 days for the past   11   months .

 

David Blank  CPA