03 12 Market Update [Condo] AZ PHOENIX 85086

8/2/2019 03 12 Market Update [Condo] AZ PHOENIX 85086

1/11

MARKET UPDATEKelli Grant Realty Group

Current Real Estate Market Conditions for Condos & Townhomes

Trends in Pricing Current Levels of Supply and Demand Value Metrics

Report for the week of

March 12, 2012

Presented by Kelli Grant Group Moving People Through Good DeedsPlatinum Premier [email protected](623) 239-4402

PHOENIX, AZ 850

Powered by Altos Research LLC | www.altosresearch.com | Copyright 2005-2010 Altos Research LLC


2/11

Median List Price

35.5

Percent Relisted (reset DOM)

1178

2.0

6 %

Median Number of Bathrooms

135

Inventory of Properties Listed

$ 71

Percent Flip (price increased)

Median House Size (sq ft)

$ 80,000

25 %

2.0

Market Action Index

Median Number of Bedrooms

Asking Price Per Square Foot

n/a

Percent of Properties with Price Decrease

Seller's Advantage

+

+

+

+

Altos Research Value Statistics

Most Expensive Listing

Average Days on Market (DoM)

ottom/Fourth

Lower/Third

Upper/Second

Top/First

This WeekReal-Time Market Profile Trend

The Market Action Index answers the question "How's the Market?" by measuringthe current rate of sale versus the amount of the inventory. Index above 30implies a seller's advantage. Below 30, conditions give the advantage to thebuyer.

Supply and Demand

Characteristics per Quartile

7 101708

1322.0 26

2.0

15

137

2.0 162

123

16

22

31

$ 64,325

16

19

163

2.0

142.0

888

162

$ 29,900

2.0

147

$ 102,000

2.0$ 260,000

18

33

1230

With inventory and days-on-marketbasically unchanged and the MarketAction Index decreasing, the marketis not sending strong directionalsignal for the near-term outlook.

Monday March 12, 2012

Kelli Grant Group | www.PhoenixHomeResource.com

162

1038

1.0

The median list price in PHOENIX, AZthis week is $80,000. The 649

properties have been on the marketfor an average of 135 days.

Most expensive 25% of properties

Upper-middle 25% of properties

Lower-middle 25% of properties

Least expensive 25% of properties

Quartile Median Price Beds Baths Age Inventory New Absorbed DOMSq. Ft.

No change

Strong upward trend Strong downward trend

Slight upward trend Slight downward trend+

==

=

PHOENIX,

City Overview

Least Expensive Listing

Average List Price

Average Age of Listing

649

$ 2,459,500

$ 12,500

$ 144,340

24

Trend Key:

In the last few weeks the market hasachieved a relative stasis point interms of sales to inventory.However, inventory is sufficientlylow to keep us in the Seller's Marketzone so watch changes in the MAI. Ifthe market heats up, prices arelikely to resume an upward climb.

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Condos & Townhome


3/11


City OverviewPHOENIX,


Median PriceDespite this week's up tic, the market seems to have paused around this plateau. The Market Action Index is a good leadingindicator for the durability of this shift.

90-day Average7-day Average

Quartile PricesPrices have settled at a price plateau across the board. Prices in all four quartiles are basically mixed. Look for a persistent shift(up or down) in the Market Action Index before prices move from these current levels.

First/Top Second/Upper Third/Lower Fourth/Bottom

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Condos & Townhom


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Price per Square FootThe market plateau is seen across the price and value. The price per square foot and median list price have both beenreasonably stagnant. Watch the Market Action Index for persistent changes as a leading indicator before the market moves fromthese levels.


Inventory of Properties Listed for Sale

Inventory has been relatively steady around these levels in recent weeks.


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Condos & Townhom


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Market Action IndexThe PHOENIX market is currently in the Seller's Advantage zone (greater than 30). The 90-day Market Action Index stands at35.52 which indicates that demand is strong and available supply of homes gets snapped up relatively quickly.

Buyers/Sellers Cutoff90-day Average

Market Action Index per QuartileThe lowest segment of the market (Quartile 4) is the only segment in the Buyer's Market zone with several months of inventorygiven the current rate of demand for homes in the quartile. The rest of the market (Quartiles 1, 2, and 3) is showing demandstrength in the Seller's Market zone. Expect pricing conditions to favor the buyer at the low end.


Buyers/Sellers Cutoff

Residential house prices are a function of supply and demand, and market conditions can be characterizedby analyzing those factors. Watch this index for sustained changes: if the index falls into the BuyersAdvantage zone (below 30) for a long period, prices are likely in for a downward correction.

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Condos & Townhom


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Days on MarketThe properties have been on the market for an average of 135 days. Half of the listings have come newly on the market in thepast 77 or so days.


Days on Market per QuartileIt is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles.


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Condos & Townhom


7/11

Median List Price

23.7

Percent Relisted (reset DOM)

1204

2.0

14 %

Median Number of Bathrooms

167

Inventory of Properties Listed

$ 82

Percent Flip (price increased)

Median House Size (sq ft)

$ 99,900

29 %

2.0

Market Action Index

Median Number of Bedrooms

Asking Price Per Square Foot

n/a

Percent of Properties with Price Decrease

Buyer's Advantage

+

==

==

==

Altos Research Value Statistics

Most Expensive Listing

Average Days on Market (DoM)

ottom/Fourth

Lower/Third

Upper/Second

Top/First

This WeekReal-Time Market Profile Trend

The Market Action Index answers the question "How's the Market?" by measuringthe current rate of sale versus the amount of the inventory. Index above 30implies a seller's advantage. Below 30, conditions give the advantage to thebuyer.

Supply and Demand

Characteristics per Quartile

6 01469

492.0 6

2.0

0

38

2.0 2

434

0

0

8

$ 99,900

0

0

2

0.0

02.5

1206

2

$ 89,100

2.5

127

$ 117,125

3.0$ 121,775

8

1

1311

Inventory has been lightening latelyand the Market Action Index has beentrending up. Though days-on-marketis increasing, these are mildly positiveindications for the market.



1

1204

2.0

The median list price in PHOENIX, AZ85086 this week is $99,900. The 7

properties have been on the marketfor an average of 167 days.

Most expensive 25% of properties

Upper-middle 25% of properties

Lower-middle 25% of properties

Least expensive 25% of properties

Quartile Median Price Beds Baths Age Inventory New Absorbed DOMSq. Ft.

No change

Strong upward trend Strong downward trend

Slight upward trend Slight downward trend+

==

=

PHOENIX, AZ 850

Neighborhood Detail

Least Expensive Listing

Average List Price

Average Age of Listing

7

$ 121,775

$ 83,500

$ 104,861

7

Trend Key:

The market has shown someevidence of slowing recently. Bothprices and inventory levels arerelatively unchanged in recentweeks. Watch the Market ActionIndex for changes as it can be aleading indicator for price changes.

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Condos & Townhome


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Neighborhood DetailPHOENIX, AZ 850


Median PriceWe continue to see prices in this zip code bouncing around this plateau. Look for a persistent up-shift in the Market Action Indexbefore we see prices move from these levels.


Quartile PricesIn the quartile market segments, we see prices in this zip code have settled at a price plateau across the board. Prices in allfour quartiles are basically mixed. Look for a persistent shift (up or down) in the Market Action Index before prices move fromthese current levels.


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Condos & Townhom


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Price per Square FootThe value placed on homes continues to increase, despite the fact that prices in general have been basically flat recently.These conditions can arise when inventory is light and more, smaller homes have more influence on overall prices.


Inventory of Properties Listed for Sale

Inventory has been falling in recent weeks. Note that declining inventory alone does not signal a strengthening market. Look tothe Market Action Index and Days on Market trends to gauge whether buyer interest is changing with the available supply.


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Condos & Townhom


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Market Action IndexThe PHOENIX, 85086 market is currently in the Buyer's Advantgae zone (below 30), though not strongly so. The 90-day MarketAction Index stands this week at 23.74 so buyers should expect to find reasonable levels of selection.

Buyers/Sellers Cutoff90-day Average

Market Action Index per QuartileNot surprisingly, all quartiles are in the Buyer's Market zone with several months of inventory given the current levels ofdemand. Watch the quartiles for changes before the overall market shifts.


Buyers/Sellers Cutoff

Residential house prices are a function of supply and demand, and market conditions can be characterizedby analyzing those factors. Watch this index for sustained changes: if the index falls into the BuyersAdvantage zone (below 30) for a long period, prices are likely in for a downward correction.

age 10 of 11

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Days on MarketThe properties have been on the market for an average of 167 days. Half of the listings have come newly on the market in thepast 56 or so days.


Days on Market per QuartileIt is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles.


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Condos & Townhom

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03 12 Market Update [Condo] AZ PHOENIX 85086