Residential Market Update
2015
Information Proudly Provided by your
Equity Title Agency Business Development Managers:
Nancy Pierson—Biltmore / [email protected] / 602-769-1438
Maggie Clark—Scottsdale / [email protected] / 602-769-5565
De Payne—Tempe / [email protected] / 602-769-5561
Heather Patrick —Northwest / [email protected] / 602-769-5562
Joanna Carson—Mesa / [email protected] / 602-760-1058
Marcee Nash—Sun City / [email protected] / 602-769-0899
Claudia Sessums—Chandler / [email protected] / 602-376-3011
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Residential Market Update
Dear Valued Client,
Here is the Market Update through April 15th 2015. Please note that the Valley Wide graph represents all of the MLS. The
table below that graph just represents recordings for new and re-sales for Maricopa County.
Active Listings and Sales: Total active listings, (with no UCB/AWC) have gone down by 978 units over the last month. As of
April 15th we sit at 22,375 actives all property types. Sales are at 7,905 for the last 30 days (April 15th), up by 1519 units from
one month ago! We are currently sitting at a 3 months of supply, (based on Active listings with no UCB/AWC). Pending sales
are up from the month before as of April 15th 8615 vs. one month ago at 7882. Traditionally, 3-4 months of supply indicate a
balanced market. March re-sales and new sales in Maricopa County were 8580. In February they were 6163. March of 2014
was 7331 this is a 17% increase in year over year. Now is the time to BUY , active listings are up and interest rates are at historic lows!!!
Absorption rate: Absorption rate is the percent of sales that are sold each month of the inventory. A higher percent means
that inventory is moving at a faster rate, and thus is a Seller's market. Certain areas of town have very high absorption rates,
they are:
Northwest Valley 46%
Peoria and Glendale 41%
Apache Junction 35%
Southeast Valley 39%
Buckeye 34%
Desert Ridge 40%
Awahtukee 32%
Southwest Valley 39%
Median Price: The median price in Maricopa County for March 2015 was $211,320 in February 2015 it was $210,000. In
March of 2014 it was $200,000 for a 5.6% increase!!!! In March 2009 it was $129,000 and in March 2003 it was $152,160! Real
Estate is still a good investment!
Luxury: The Luxury Market of $1.0 Million and above continues to be the lowest absorption rate of any market segment.
There was a 7% absorption rate for the last month. There were 124 properties in all of the MLS were sold for more than $1.0
million.. It does take longer to sell a home that is over $1.0 Million.
MONTHS OF SUPPLY (with AWC listings) (Single Family Only)
East Valley: 2.6
Cave Creek: 5.3
Northwest: 2.2
Ahwatukee: 3.1
Paradise Valley: 12.3
Scottsdale: 5.5
Luxury ($1mil+): 15.1
Apache Junction: 2.8
Southwest: 3.2
Fountain Hills: 7.3
Peoria/Glendale: 2.5
Buckeye: 2.9
Camelback Corridor: 4.3
Desert Ridge & Tatum Corridor: 2.5
Valleywide Comparison
March 15, 2015 to April 15, 2015
Yearly Market Analysis
Year
2005
Jan.
10,955
Feb.
11,827
Mar.
17,016
Apr.
16,006
May
16,577
Jun.
17,992
Jul.
15,775
Aug.
16,683
Sept.
15,593
Oct.
13,525
Nov.
12,570
Dec.
12,886
Totals
177,405
2006
2007
9,933
8,414
9,602
7,732
13,145
9,572
11,039
8,471
12,321
8,889
12,599
8,299
10,200
7,592
10,703
7,125
9,833
5,688
10,180
5,971
9,253
5,611
9,996
5,883
128,804
89,247
2008
4,387
4,574
5,359
5,963
6,488
6,462
6,784
6,139
6,720
6,594
4,684
6,082
70,236
2009
2010
2011
4,753
5,549
6,165
5,433
6,158
6,520
7,552
8,657
9,212
8,156
8,955
8,725
8,687
8,536
8810
9,614
9,353
9432
9,234
6,843
7891
7,696
6,530
8446
8,001
6,653
7659
8,163
6,245
7135
7,488
6,328
6975
7,827
6,991
7801
92,604
86,792
94,771
2012
2013
2014
6373
6,462
5,496
7293
7,073
6,029
9,581
8,658
7,331
8,545
9,032
8,195
8,937
9,703
8,208
8,394
8,512
7,855
8,050
8,744
7,443
8,257
7,965
7,203
7,030
7,084
6,930
7,895
7,086
6,927
7,306
5,943
5,614
7,531
6,686
7,187
95,192
88,948
84,418
2015
5,319
6,163
8,580
20,062
Provided By:
Equity Title
Agency
www.eta-az.com
Valleywide
Properties
Comparison
ValleywideDistressed
Distressed Properties
Comparison
Active Properties
Data Used:
Valleywide
Single Family Residences
Information deemed reliable but not guaranteed
Sold Properties
Provided By:
Equity Title Agency
www.eta-az.com
East Valley Comparison
March 2, 2015 to April 2, 2015
Data Used:
Cities: Tempe, Mesa, Gilbert, Chandler
Single-Family residences
Breakdown by City
Information deemed reliable but not
guaranteed
SE Valley
ACTIVE
PENDING
SOLD
Tempe
4/2/15
292
108
104
Mesa
4/2/15
1,517
551
621
Gilbert
4/2/15
1,191
457
446
Chandler
4/2/15
1,018
300
376
3,018
1416
1,547
TOTAL
Provided By:
Equity Title
Agency
www.eta-az.com
Northwest Valley Comparison
March 12, 2015 to April 9, 2015
Data Used:
Cities: Sun City, Sun City West,
Surprise
Single Family Residences
Information deemed reliable but
not guaranteed
Breakdown by City:
NW
ACTIVE PENDING
SOLD
Sun City
4/9/15
271
107
146
Sun C W
4/9/15
293
95
125
Surprise
4/9/15
740
316
330
1,304
518
601
TOTAL
Provided By:
Equity Title
Agency
www.eta-az.com
Paradise Valley Comparison
March 12, 2015 to April 9, 2015
Data Used:
City: Paradise Valley
Single Family Residence
Information deemed reliable,
but not guaranteed
ACTIVE
PV
4/9/15
443
PENDING
32
SOLD
36
Provided By:
Equity Title
Agency
www.eta-az.com
Luxury Comparison
March 1, 2015 to April 1, 2015
Luxury
Single Family Residences
“Luxury” properties include those listed at
$1,000,000+ (information below 1.5 million
currently unavailable)
“Information deemed reliable but not guaranteed”
ACTIVE
PENDING
SOLD
1-1.5mil
4/1/15
732
56
80
1.5-2mil
4/1/15
435
29
17
2-3 mil
4/1/15
393
28
21
3+ mil
4/1/15
311
18
6
1871
131
124
TOTAL
Provided By:
Equity Title
Agency
www.eta-az.com
Southwest Valley Comparison
March 12, 2015 to April 9, 2015
Data used:
Cities: Goodyear, Litchfield Park and Avondale
Single Family Residences
Information deemed reliable but not guaranteed
Breakdown by City:
SW
ACTIVE
PENDING
SOLD
Litch
4/9/15
180
63
51
Good
4/2/15
580
195
158
Avon
4/2/15
244
137
103
1004
395
312
TOTAL
Provided By:
Equity Title
Agency
www.eta-az.com
Peoria/Glendale Comparison
March 2, 2015 to April 2, 2015
Data Used
Cities: Peoria and Glendale
Single Family Residences
Information deemed reliable but not guaranteed
Breakdown by City:
P/G
ACTIVE
PENDING
SOLD
Peoria
4/2/15
853
308
312
Glendale
4/2/15
711
364
323
1,564
672
635
TOTAL
Provided By:
Equity Title
Agency
www.eta-az.com
Camelback Corridor Comparison
March 1, 2015 to April 1, 2015
Data Used:
Zip Codes: 85016, 85018, 85251
Single Family Residence
Information deemed reliable, but not guaranteed
Cback Corr
ACTIVE
PENDING
SOLD
85016
4/1/15
138
39
42
85018
4/1/15
278
46
45
85251
4/1/15
90
32
30
506
117
117
TOTAL
Provided By:
Equity Title
Agency
www.eta-az.com
Cave Creek Comparison
March 12, 2015 to April 9, 2015
Data Used:
City: Cave Creek
Single Family Residence
Information deemed reliable, but not guaranteed
ACTIVE
Cave
Creek
4/9/15
361
PENDING
57
SOLD
68
Provided By:
Equity Title
Agency
www.eta-az.com
Ahwatukee Comparison
March 1, 2015 to April 1, 2015
Data Used:
Ahwatukee Zip Codes: 85044, 85045, 85048
Single Family Residences
Breakdown by Zip Code: ,
Ahwat
ACTIVE PENDING SOLD
85044
4/1/15
129
53
63
85045
4/1/15
91
17
11
85048
4/1/15
194
61
60
414
131
134
TOTAL
Provided By:
Equity Title
Agency
www.eta-az.com
Scottsdale Comparison
March 2, 2015 to April 2, 2015
Data Used:
City: Scottsdale
Single Family Residences
Information deemed reliable but not guaranteed
ACTIVE PENDING
Scotts
4/2/15
2,618
380
SOLD
478
Provided By:
Equity Title
Agency
www.eta-az.com
Apache Junction Comparison
March 12, 2015 to April 9, 2015
Data Used:
City: Apache Junction
Single Family Residences
Information deemed reliable but not guaranteed
ACTIVE PENDING
AJ
4/9/15
178
75
SOLD
63
Provided By:
Equity Title
Agency
www.eta-az.com
Fountain Hills Comparison
March 12, 2015 to April 9, 2015
Data Used:
Fountain Hills
Single Family Residences
Information deemed reliable but not guaranteed
ACTIVE PENDING
FH
4/9/15
359
38
SOLD
49
Provided By:
Equity Title
Agency
www.eta-az.com
Buckeye Comparison
March 12, 2015 to April 9, 2015
Data Used:
City: Buckeye
Single Family Residences
Information deemed reliable but not guaranteed
ACTIVE PENDING
Buckeye
4/9/15
514
220
SOLD
176
Provided By:
Equity Title
Agency
www.eta-az.com
Desert Ridge/Tatum Corridor Comparison
March 1, 2015 to April 1, 2015
Desert Ridge/
North Phoenix
Data Used:
Zip Codes: 85032, 85050, 85054
Single Family Residences
Breakdown by Zip Code
ACTIVE
PENDING
SOLD
85032
4/1/15
174
84
86
85050
4/1/15
159
34
50
85054
4/1/14
22
9
6
355
127
142
%
Provided By:
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Agency
www.eta-az.com
Monthly Average Sales Price per Square Foot
Greater Phoenix Area
Information deemed reliable but not guaranteed
Nov-14
$128.53
Dec-14
$131.60
Jan-15
$131.48
Feb-15
$130.37
Mar-15
$132.03
Apr-15
$136.85
Provided By:
Equity Title
Agency
www.eta-az.com