04 30 12 Market Update [Sf] Az Phoenix 85085

8/2/2019 04 30 12 Market Update [Sf] Az Phoenix 85085

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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

April 30, 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

26.1

Percent Relisted (reset DOM)

1866

2.0

7 %

Median Number of Bathrooms

121

Inventory of Properties Listed

$ 90

Percent Flip (price increased)

2.5 - 5.0 acres

Median House Size (sq ft)

$ 165,000

22 %

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

20 683208

1042.0 26

3.0

118

113

3.0 765

107

100

109

1.0 - 2.5acres

40

$ 122,000

123

65

765

3.0

1.0 - 2.5acres

1072.0

1319 not available

765

$ 59,000

3.0

160

5.0 - 10acres$ 230,000

4.0$ 499,000

18

128

2115

With inventory and days-on-marketbasically unchanged and the MarketAction Index increasing, the market isnot sending strong directional signalfor the near-term outlook.

Monday April 30, 2012

Kelli Grant Group | www.PhoenixHomeResource.com

765

1587

2.0

The median list price in PHOENIX, AZthis week is $165,000. The 3060

properties have been on the marketfor an average of 121 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

3060

$ 11,900,000

$ 11,500

$ 290,889

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 PriceThe market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability ofthis trend.

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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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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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 26.06 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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Days on MarketThe properties have been on the market for an average of 121 days. Half of the listings have come newly on the market in thepast 70 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

21.8

Percent Relisted (reset DOM)

2872

3.0

9 %

Median Number of Bathrooms

98

Inventory of Properties Listed

$ 91

Percent Flip (price increased)

10 - 20 acres

Median House Size (sq ft)

$ 276,950

24 %

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

6 33431

843.0 7

3.0

3

116

4.0 24

97

0

3

10 - 20 acres

8

$ 242,475

0

2

24

3.2

not available

03.0

1922 not available

23

$ 149,450

4.0

95

not available$ 300,000

4.0$ 425,000

6

5

2970

Inventory has been lightening latelyand the Market Action Index has beentrending up. These are mildly positiveindications for the market.



23

2892

2.0

The median list price in PHOENIX, AZ85085 this week is $276,950. The 94

properties have been on the marketfor an average of 98 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

94

$ 782,500

$ 82,000

$ 286,557

7

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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Neighborhood DetailPHOENIX, AZ 850


Median PriceThe market for this zip code continues its bounce again this week. We're a long way from the market's high point so watch theMarket Action Index to predict how long this trend will last.


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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Price per Square FootThe market appears to be placing an increasing premium on homes. When list prices and price per square foot consistentlyincrease in tandem, as they're doing now, you can often find short-term investment opportunities. Watch the Market ActionIndex for persistent changes as a leading indicator for these trends to flatten or drop.


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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Market Action IndexThe PHOENIX, 85085 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market ActionIndex stands at 21.80. 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 April 30 2012

Days on MarketThe properties have been on the market for an average of 98 days. Half of the listings have come newly on the market in thepast 56 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

04 30 12 Market Update [Sf] Az Phoenix 85085

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