Maricopa Arizona For Sale – Weekly Market Report 9MAY
Inventory of subdivision homes in Maricopa Arizona continues to decline as buying activity remains strong. Since the trending of the various categories continues in the same direction observed over the past few months, I will not go into great detail this week. You can refer to prior weeks for more detailed explanations.
ACTIVE: 374, down from 401. After three weeks of relative stability, the inventory of homes for sale in Maricopa AZ continues it’s decline.
ACTIVE SHORT SALES: 141, down from 147.
LENDER OWNED: 74, down from 81.
AWC (Short sales with offers): 216, stable from 216.
PENDING: 384, up from 377. I had expected this number to begin to trend downward a bit due to the annaul “migration” of the snowbirds that head back home this time of year. Apparently, their “staying power” is lasting longer this year as offers are still being made at record rates. Since the number of closings were fairly strong, this trend cannot be contributed to that factor.
CLOSED: 48, down from 83. Though there was a large decline from last week, 83 closings was an abberation and 48 is a very solid weekly number, especially for this time of year.
AUCTION HOMES: 27, stable.
One thing that I would like to mention is that due to the lack of inventory in certain home types, particularly single level homes in the desirable subdivisions, pricing has increased dramatically. Owners/agents of auction homes in particular are pushing the envelope with their pricing and so far there does not seem to be much resistance from buyers. Unfortunately, because of the recent shift in values, “comps” have not yet caught up and appraisals continue to be an issue on financed offers. Cash continues to be king!!
The full spreadsheet is available here Monthly home data
