03 12 Market Update [Sf] Az Phoenix 85086

8/2/2019 03 12 Market Update [Sf] Az Phoenix 85086

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MARKET UPDATEKelli Grant Realty Group

Current Real Estate Market Conditions for Single Family Homes

Trends in Pricing Current Levels of Supply and Demand Value Metrics

Report for the week of

March 12, 2012

Presented by Kelli Grant Group Moving People Through Good DeedsPlatinum Premier [email protected](623) 239-4402

PHOENIX, AZ 850

Powered by Altos Research LLC | www.altosresearch.com | Copyright 2005-2010 Altos Research LLC


2/11

Median List Price

Median Lot Size

24.2

Percent Relisted (reset DOM)

1862

2.0

7 %

Median Number of Bathrooms

124

Inventory of Properties Listed

$ 87

Percent Flip (price increased)

2.5 - 5.0 acres

Median House Size (sq ft)

$ 155,000

28 %

3.0

Market Action Index

Median Number of Bedrooms

Asking Price Per Square Foot

n/a

Percent of Properties with Price Decrease

Buyer's Advantage

+

+

+

Altos Research Value Statistics

Most Expensive Listing

Average Days on Market (DoM)

ottom/Fourth

Lower/Third

Upper/Second

Top/First

This WeekReal-Time Market Profile Trend

The Market Action Index answers the question "How's the Market?" by measuringthe current rate of sale versus the amount of the inventory. Index above 30implies a seller's advantage. Below 30, conditions give the advantage to thebuyer.

Supply and Demand

Characteristics per Quartile

19 723266

1112.0 28

3.0

109

115

3.0 828

104

118

123

2.5 - 5.0acres

40

$ 119,000

76

75

829

3.0

not available

962.0

1340 not available

828

$ 58,200

3.0

167

2.5 - 5.0acres$ 219,895

4.0$ 484,950

18

123

2082

The Market Action Index has beentrending down recently, but as days-on-market decreases also, there arenot strong signals for the direction ofthe market.

Monday March 12, 2012

Kelli Grant Group | www.PhoenixHomeResource.com

828

1585

2.0

The median list price in PHOENIX, AZthis week is $155,000. The 3313

properties have been on the marketfor an average of 124 days.

Most expensive 25% of properties

Upper-middle 25% of properties

Lower-middle 25% of properties

Least expensive 25% of properties

Quartile Median Price Lot Size Beds Baths Age Inventory New Absorbed DOMSq. Ft.

No change

Strong upward trend Strong downward trend

Slight upward trend Slight downward trend+

==

=

PHOENIX,

City Overview

Least Expensive Listing

Average List Price

Average Age of Listing

3313

$ 8,990,000

$ 12,900

$ 275,514

30

Trend Key:

The market has shown someevidence of slowing recently. Bothprices and inventory levels arerelatively unchanged in recentweeks. Watch the Market ActionIndex for changes as it can be aleading indicator for price changes.

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Single Family Home


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City OverviewPHOENIX,


Median PriceDespite this week's up tic, the market seems to have paused around this plateau. The Market Action Index is a good leadingindicator for the durability of this shift.

90-day Average7-day Average

Quartile PricesPrices have settled at a price plateau across the board. Prices in all four quartiles are basically mixed. Look for a persistent shift(up or down) in the Market Action Index before prices move from these current levels.

First/Top Second/Upper Third/Lower Fourth/Bottom

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Single Family Hom


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Price per Square FootThe market plateau is seen across the price and value. The price per square foot and median list price have both beenreasonably stagnant. Watch the Market Action Index for persistent changes as a leading indicator before the market moves fromthese levels.


Inventory of Properties Listed for Sale

Inventory has been relatively steady around these levels in recent weeks.


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Single Family Hom


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Market Action IndexThe PHOENIX market is currently in the Buyer's Advantgae zone (below 30), though not strongly so. The 90-day Market ActionIndex stands this week at 24.25 so buyers should expect to find reasonable levels of selection.

Buyers/Sellers Cutoff90-day Average

Market Action Index per QuartileThree of the four quartiles of the market are in the Buyer's Market zone with several months of inventory given the current rateof demand for homes in the quartile. Notice that Quartile 1 (the highest price group) is showing stronger demand than theothers. Current supply/demand levels identify Quartile 1 as a Seller's market as buyers seem to be placing emphasis on the

premium homes.


Buyers/Sellers Cutoff

Residential house prices are a function of supply and demand, and market conditions can be characterizedby analyzing those factors. Watch this index for sustained changes: if the index falls into the BuyersAdvantage zone (below 30) for a long period, prices are likely in for a downward correction.

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Single Family Hom


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Days on MarketThe properties have been on the market for an average of 124 days. Half of the listings have come newly on the market in thepast 77 or so days.


Days on Market per QuartileIt is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles.


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Single Family Hom


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Median List Price

Median Lot Size

19.0

Percent Relisted (reset DOM)

2647

2.0

7 %

Median Number of Bathrooms

127

Inventory of Properties Listed

$ 101

Percent Flip (price increased)

2.5 - 5.0 acres

Median House Size (sq ft)

$ 272,000

42 %

4.0

Market Action Index

Median Number of Bedrooms

Asking Price Per Square Foot

n/a

Percent of Properties with Price Decrease

Strong Buyer's

+

+

Altos Research Value Statistics

Most Expensive Listing

Average Days on Market (DoM)

ottom/Fourth

Lower/Third

Upper/Second

Top/First

This WeekReal-Time Market Profile Trend

The Market Action Index answers the question "How's the Market?" by measuringthe current rate of sale versus the amount of the inventory. Index above 30implies a seller's advantage. Below 30, conditions give the advantage to thebuyer.

Supply and Demand

Characteristics per Quartile

8 83640

1142.0 10

3.0

10

119

4.0 76

121

10

10

20+ acres

9

$ 229,900

8

2

76

3.0

1.0 - 2.5acres

83.0

1850 not available

75

$ 154,950

4.0

155

not available$ 315,000

4.0$ 450,000

9

6

2793

Inventory is tightening and days-on-market is falling. But demand asmeasured by the Market Action Indexis also trending down. The market isnot giving strong up or down signalsfrom these data.



75

2359

2.0

The median list price in PHOENIX, AZ85086 this week is $272,000. The 302

properties have been on the marketfor an average of 127 days.

Most expensive 25% of properties

Upper-middle 25% of properties

Lower-middle 25% of properties

Least expensive 25% of properties

Quartile Median Price Lot Size Beds Baths Age Inventory New Absorbed DOMSq. Ft.

No change

Strong upward trend Strong downward trend

Slight upward trend Slight downward trend+

==

=

PHOENIX, AZ 850

Neighborhood Detail

Least Expensive Listing

Average List Price

Average Age of Listing

302

$ 2,700,000

$ 36,000

$ 308,670

10

Trend Key:

The market has shown someevidence of slowing recently. Bothprices and inventory levels arerelatively unchanged in recentweeks. Watch the Market ActionIndex for changes as it can be aleading indicator for price changes.

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Single Family Home


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Neighborhood DetailPHOENIX, AZ 850


Median PriceRecently prices in this zip have settled at a plateau even though they dipped this week. Look for a persistent up-shift in theMarket Action Index before we see prices significantly move from these levels.


Quartile PricesIn the quartile market segments, we see prices in this zip code have settled at a price plateau across the board. Prices in allfour quartiles are basically mixed. Look for a persistent shift (up or down) in the Market Action Index before prices move fromthese current levels.


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Single Family Hom


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Price per Square FootThe market plateau is seen across the price and value. The price per square foot and median list price have both beenreasonably stagnant. Watch the Market Action Index for persistent changes as a leading indicator before the market moves fromthese levels.


Inventory of Properties Listed for Sale

Inventory has been falling in recent weeks. Note that declining inventory alone does not signal a strengthening market. Look tothe Market Action Index and Days on Market trends to gauge whether buyer interest is changing with the available supply.


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Single Family Hom


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Market Action IndexThe PHOENIX, 85086 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market ActionIndex stands at 19.04. With several months of inventory available at the current sales rate, buyers should find ample choice.

Buyers/Sellers Cutoff90-day Average

Market Action Index per QuartileNot surprisingly, all quartiles are in the Buyer's Market zone with several months of inventory given the current levels ofdemand. Watch the quartiles for changes before the overall market shifts.


Buyers/Sellers Cutoff

Residential house prices are a function of supply and demand, and market conditions can be characterizedby analyzing those factors. Watch this index for sustained changes: if the index falls into the BuyersAdvantage zone (below 30) for a long period, prices are likely in for a downward correction.

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Monday March 12 2012

Days on MarketThe properties have been on the market for an average of 127 days. Half of the listings have come newly on the market in thepast 84 or so days.


Days on Market per QuartileIt is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles.


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Single Family Hom

03 12 Market Update [Sf] Az Phoenix 85086

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