By the numbers…
A title company that I work with, Equity Title has put together some monthly numbers regarding sales here in Maricopa County. Pretty interesting read and staggering to see the changes!
Enjoy:
Total active listings have dropped to by another 2231 units over the beginning of last month. As of yesterday we sit at 39,635 which is the lowest amount in March for the last two years. Sales are up to 7725 for the last month as of yesterday. We currently sit at 5.2 months of supply.
Short sales represent 21% of the closings BUT 38% of the active listings for a 9.8 months of supply. The total for Distressed(including bank owned) properties is 66% of the sales for the last month, which is down 5% from the month prior.
February of 2011 closings were 6535 vs. 2010 of 6158 which equates to an 6% increase over last year. Even with the tax credit last year!
Reality Check: February 2011 Median price sold in Maricopa County was $120,100. February 2006 median price was $260,000…ugh…..
We currently sit at a 5.2 months of supply in the valley. This may seem balanced but the high end market continues to be stagnant. Only 60 properties over $1.0 million sold for the month of February in the whole of MLS. 94% of the sales in the the last month under $400,000.
Chew on those for a while!
