January 2008 Phoenix Metro Home Sales Trend Update
January's sales trends update. Having now completed the first year of publishing this chart, I will now present the data in an ongoing rolling 12 month format. I think it's important to compare the data over a long period to get a better feel for how the market is changing.
January had 15,903 new listings, and as I predicted in my last update, significantly up from December's 8,837 (almost doubled). In fact, January 2008's listings were the 2nd highest compared to all of 2007. Meanwhile, sold listings dropped from December's 3,420 to 2,912, a 13 month low. Not a good trend if we want the inventory level to drop.
Median list price was flat to December at $249,000, while average list price spiked back up to November's level at $406,647. Median sales ($220,000, down $9K) and average sales ($313,400, up $400) did not change significantly.
Data Source: Arizona Regional Multiple Listing Service (ARMLS)
2001 - 2008 New Listing Chart
2001 - 2008 Sold Charts
Copyright © 2008 Rod Rebello
www.RodSellsAZhomes.com