The market overall is sitting at a 4.2 months of supply. Traditionally this would be considered a balanced market. However, we have areas that vary are very much a seller’s market and others that are very much a buyer’s market! Still 94% of the sales for the last month are under $400,000. Distressed Properties, Short Sales and REO’s, represent 69% of the sales for the last month!
The months of supply by area are below:
Goodyear, Litchfield and Avondale: 2.8
Peoria and Glendale 3.0
East Valley: 3.6
North West Valley 4.1
Apache Junction and Queen Creek: 5.1
Cave Creek: 7.8
Fountain Hills: 9.4
Scottsdale 9.7
Paradise Valley 15.6
Luxury $1,000,000: 26.7
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