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Solutions Real Estate MARKET UPDATE PHOENIX, AZ

· 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 October 15, 2012

· Presented by David Dion Solutions Real Estate www.SolutionsRealEstate.com - dave@solutionsrealestate.com 480-332-5942

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


City Overview

Single Family Homes in

David Dion | Solutions Estate 480-332-5942 | www. Katy Katz, Associate Broker atReal Solutions Real |Estate | www.KatyKatz.com

| 602-618-0917

This Week

PHOENIX, AZ

Real-Time Market Profile

The median list price in PHOENIX, AZ this week is $180,000. The 3346 properties have been on the market for an average of 101 days.

Trend

Median List Price

$ 180,000

Average List Price

$ 284,160 $ 101

±+

Average Days on Market (DoM)

101

≠≠

Inventory of Properties Listed

3346

==

Asking Price Per Square Foot

Most Expensive Listing

Inventory is up and Market Action is trending down recently. While dayson-market appears to be trending lower, the overall conditions are weakening a bit.

$ 10,800,000

Least Expensive Listing

$ 13,000

Average Age of Listing

32

Percent of Properties with Price Decrease

29 %

Percent Relisted (reset DOM)

n/a

Percent Flip (price increased)

9%

Median House Size (sq ft)

1816

Median Lot Size

Supply and Demand

±+

2.5 - 5.0 acres

Median Number of Bedrooms

3.0

Median Number of Bathrooms

2.0

Altos Research Value Statistics

The market has shown some evidence of slowing recently. Both prices and inventory levels are relatively unchanged in recent weeks. Watch the Market Action Index for changes as it can be a leading indicator for price changes.

Market Action Index

Buyer's Advantage

25.9

≠≠

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

Trend Key:

±+

No change

== Strong upward trend ≠≠ Strong downward trend = Slight upward trend ≠ Slight downward trend

Characteristics per Quartile Quartile

Median Price

Sq. Ft. Lot Size

Beds

Baths

Age Inventory New

Absorbed

DOM

Top/First

$ 485,000

3122 10 - 20 acres

4.0

3.0

20

836

101

63

136

Upper/Second

$ 249,000

2020

0.25 - 0.50 acre

3.0

2.0

19

836

111

95

90

Upper-middle 25% of properties

Lower/Third

$ 139,000

1566

6,501 8,000 sqft

3.0

2.0

32

837

143

106

91

Lower-middle 25% of properties

Bottom/Fourth

$ 70,000

1320

6,501 8,000 sqft

3.0

2.0

41

837

134

107

89

Least expensive 25% of properties

Page 2 of 6

Monday October 15, 2012

Most expensive 25% of properties


Single Family Homes in

City Overview

David Dion | Solutions Real Estate 480-332-5942 | www. Katy Katz, Associate Broker at Solutions Real|Estate | www.KatyKatz.com

| 602-618-0917

PHOENIX, AZ

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

7-day Average

90-day Average

Quartile Prices Prices 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

Page 3 of 6

Second/Upper

Third/Lower

Monday October 15, 2012

Fourth/Bottom


Single Family Homes in

City Overview

David Dion | Solutions Estate 480-332-5942 | www. Katy Katz, Associate Broker atReal Solutions Real |Estate | www.KatyKatz.com

| 602-618-0917

PHOENIX, AZ

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

7-day Average

90-day Average

Inventory of Properties Listed for Sale Inventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is keeping up with available supply.

7-day Average

Page 4 of 6

90-day Average

Monday October 15, 2012


Single Family Homes in

City Overview

David Dion | Solutions Real Estate 480-332-5942 | www. Katy Katz, Associate Broker at Solutions Real|Estate | www.KatyKatz.com

| 602-618-0917

PHOENIX, AZ

Market Action Index The PHOENIX market is currently in the Buyer's Advantgae zone (below 30), though not strongly so. The 90-day Market Action Index stands this week at 25.93 so buyers should expect to find reasonable levels of selection.

90-day Average

Buyers/Sellers Cutoff

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

First/Top

Second/Upper

Third/Lower

Fourth/Bottom

Buyers/Sellers Cutoff Residential house prices are a function of supply and demand, and market conditions can be characterized by analyzing those factors. Watch this index for sustained changes: if the index falls into the Buyer’s Advantage zone (below 30) for a long period, prices are likely in for a downward correction.

Page 5 of 6

Monday October 15, 2012


Single Family Homes in

City Overview

David Dion | Solutions Real Estate 480-332-5942 | www. Katy Katz, Associate Broker at Solutions Real|Estate | www.KatyKatz.com

| 602-618-0917

PHOENIX, AZ

Days on Market The properties have been on the market for an average of 101 days. Half of the listings have come newly on the market in the past 50 or so days.

7-day Average

90-day Average

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

First/Top

Page 6 of 6

Second/Upper

Third/Lower

Monday October 15, 2012

Fourth/Bottom


Phoenix Az Market Updates October 2012  

The median list price in PHOENIX, AZ this week is $180,000. The 3346 properties have been on the market for an average of 101 days.

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