February 2008 Phoenix Metro Home Sales Trend Update
February had 12,932 new listings, a bit down from January's 15,903. Sold listings moved up to 3,448 from January's 2,912. With fewer new listings and higher sales, we are at least going in the right direction, but still a long ways to go to bring down inventory.
Median list price was slightly down to $241,900 from January's $249,900. Median sale price dropped to $213,800 from $220,000. On average, median sale price has been 89% of median list over the last 12 months.
Average list price dropped 7% to $379,928 from $406,647. Average sale price was also down about 7% to $293,100 from $313,400.
Data Source: Arizona Regional Multiple Listing Service (ARMLS)
2001 - 2008 New Listing Chart
2001 - 2008 Sold Charts
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www.RodSellsAZhomes.com