Arizona Patio Homes Available For Sale

So far, 2010 has been a better year for the housing market in Phoenix and surrounding areas of Arizona. In a month’s time, sales on 7093 properties have closed, and inventories are up 1% since the last market break down report. 27,594 properties are for sale as of the March 15 report.

It appears that sales are well ahead and the market continues to improve over 2009. It is expected that there will be a substantial growth in the number of closings in the next few months, thanks to the 40% surge in pending home sales that we are seeing since the beginning of 2010. The number of single family detached homes that were on the market since March 15th, was 27,594. Based on 7,093 closings over the past month, the number of houses on the market will last for 4 months.

5,681 properties are for sale in the Phoenix area, which reflects a 1% increase over the last reported numbers. Last month, 1629 homes closed, equating to approximately a 3 1/2 month inventory of homes. Slightly ahead of Phoenix is the West Valley area, the most robust in this market currently. There are 6,489 houses for sale, with 2,118 closings, which translates to a supply that will last 3 months. The cities in West Valley are Buckeye, Avondale, Tolleson, Goodyear, El Mirage, Youngtown, Sun City, Peoria, and Glendale.

In third place, with a grand total of 6,289 active listing for the time frame, along with 1,676 homes closed, which gives this region a currently 3 3/4 month supply, the Southeast Valley includes towns and cities Tempe, Mesa, Chandler, Queen Creek, and Apache Junction. The numbers for the Northeast Valley and the cities of Cave Creek, Carefree, Fountain Hills, Scottsdale, and Paradise Valley, are identical to the numbers on the last report. There are 4,212 properties for sale and 560 closings, which means there is enough supply for 7 1/2 months.

In Scottsdale, 1,981 properties are for sale and there were 354 closings in the less than $1m arena. In the more than $1m arena, there are 965 properties for sale and 53 closings. In the more than $1m arena, inventory has decreased by 4%, and in the less than $1m arena, it has gone up by 2%.

Hopefully the housing market for Phoenix and the encompassing regions keeps improving, and the overall trend remains intact. This is great news for our communities, home buyers, and those in the market to sell their homes as well!

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