The market in the Valley is now at 3.7 months of inventory. This is the lowest count in the active listing market in over two years. 94% of the home sales are under $400,000.
Now for the Bank Owned Properties, the lenders are not releasing a lot of properties yet. Lender Owned Properties represent 14% of the listings and 62% of the sales for the month. This means there are and will be lots of Short Sales out there still.
Below is the supply for the cities in the Valley:
Maricopa and Queen Creek 1.7
Litchfield, Goodyear, and Avondale 2.0
Apache Junction 2.2
Queen Creek 2.2
Peoria and Glendale 2.5
Awhatukee 3.9
Fountain Hills 8.1
Scottsdale 9.5
Arcadia 11.9
Cave Creek and Carefree 12.8
Specific Areas in the Valley:
Central Corridor 5.9
East Valley 3.6
Northwest 3.6
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