04 30 12 Market Update (SF) Az Phoenix 85085

Kelli Grant Realty Group MARKET UPDATE
PHOENIX, AZ 85085
Current Real Estate Market Conditions for Single Family Homes Trends in Pricing Current Levels of Supply and Demand Value Metrics
Report for the week of April 30, 2012
Presented by Kelli Grant Group Moving People Through Good Deeds Platinum Premier Realty Admin@PhoenixHomeResource.com (623) 239-4402
Powered by Altos Research LLC | www.altosresearch.com | Copyright 2005-2010 Altos Research LLC
City Overview
Kelli Grant Group | www.PhoenixHomeResource.com
Single Family Homes in
PHOENIX, AZ
This Week
The median list price in PHOENIX, AZ this week is $165,000. The 3060 properties have been on the market for an average of 121 days.
Median List Price Average List Price
Real-Time Market Profile

$ 165,000 $ 290,889 $ 90 121 3060 $ 11,900,000 $ 11,500 30 22 % n/a 7% 1866 2.5 - 5.0 acres 3.0 2.0
Trend
+ + + +
Asking Price Per Square Foot Average Days on Market (DoM) Inventory of Properties Listed Most Expensive Listing
With inventory and days-on-market basically unchanged and the Market Action Index increasing, the market is not sending strong directional signal for the near-term outlook.
Least Expensive Listing Average Age of Listing Percent of Properties with Price Decrease Percent Relisted (reset DOM) Percent Flip (price increased) Median House Size (sq ft) Median Lot Size Median Number of Bedrooms
Supply and Demand

The market has shown some evidence of slowing recently. Both prices and inventory levels are relatively unchanged in recent weeks. Watch the Market Action Index for changes as it can be a leading indicator for price changes.
Median Number of Bathrooms
Altos Research Value Statistics

Market Action Index Buyer's Advantage 26.1 == The Market Action Index answers the question "How's the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies a seller's advantage. Below 30, conditions give the advantage to the buyer.
Trend Key:
No change
== Strong upward trend Strong downward trend = Slight upward trend Slight downward trend
Characteristics per Quartile

Quartile
Top/First Upper/Second Lower/Third Bottom/Fourth
Median Price Sq. Ft. Lot Size Beds Baths Age Inventory New Absorbed DOM
$ 499,000 $ 230,000 $ 122,000 $ 59,000
3208 2115 1587
1.0 - 2.5 acres 5.0 - 10 acres 1.0 - 2.5 acres
4.0 3.0 3.0 3.0
3.0 2.0 2.0 2.0
20 18 26 40
765 765 765 765
65 100 118 123
68 107 109 128
160 113 104 107
Most expensive 25% of properties Upper-middle 25% of properties Lower-middle 25% of properties Least expensive 25% of properties
1319 not available
Page 2 of 11
Monday April 30, 2012
City Overview
PHOENIX, AZ
Median Price
The market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this trend.
7-day Average
90-day Average
Quartile Prices
Prices 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
Page 3 of 11
City Overview
PHOENIX, AZ
Price per Square Foot

The market plateau is seen across the price and value. The price per square foot and median list price have both been reasonably stagnant. Watch the Market Action Index for persistent changes as a leading indicator before the market moves from these levels.
7-day Average
90-day Average
Inventory of Properties Listed for Sale

Inventory has been relatively steady around these levels in recent weeks.
7-day Average
90-day Average
Page 4 of 11
City Overview
PHOENIX, AZ
Market Action Index

The PHOENIX market is currently in the Buyer's Advantgae zone (below 30), though not strongly so. The 90-day Market Action Index stands this week at 26.06 so buyers should expect to find reasonable levels of selection.
90-day Average
Buyers/Sellers Cutoff
Market Action Index per Quartile

Three of the four quartiles of the market are in the Buyer's Market zone with several months of inventory given the current rate of demand for homes in the quartile. Notice that Quartile 1 (the highest price group) is showing stronger demand than the others. Current supply/demand levels identify Quartile 1 as a Seller's market as buyers seem to be placing emphasis on the premium homes.
First/Top
Second/Upper
Third/Lower
Fourth/Bottom
Residential house prices are a function of supply and demand, and market conditions can be characterized by analyzing those factors. Watch this index for sustained changes: if the index falls into the Buyers Advantage zone (below 30) for a long period, prices are likely in for a downward correction.
Page 5 of 11
City Overview
PHOENIX, AZ
Days on Market
The properties have been on the market for an average of 121 days. Half of the listings have come newly on the market in the past 70 or so days.
7-day Average
90-day Average
Days on Market per Quartile

It is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles.
First/Top
Second/Upper
Third/Lower
Fourth/Bottom
Page 6 of 11
Neighborhood Detail
PHOENIX, AZ 85085
This Week
The median list price in PHOENIX, AZ 85085 this week is $276,950. The 94 properties have been on the market for an average of 98 days.
Median List Price Average List Price
Real-Time Market Profile

$ 276,950 $ 286,557 $ 91 98 94 $ 782,500 $ 82,000 7 24 % n/a 9% 2872 10 - 20 acres 4.0 3.0
Trend
== == +
Asking Price Per Square Foot Average Days on Market (DoM) Inventory of Properties Listed Most Expensive Listing
Inventory has been lightening lately and the Market Action Index has been trending up. These are mildly positive indications for the market.
Least Expensive Listing Average Age of Listing Percent of Properties with Price Decrease Percent Relisted (reset DOM) Percent Flip (price increased) Median House Size (sq ft) Median Lot Size Median Number of Bedrooms
Supply and Demand

The market has shown some evidence of slowing recently. Both prices and inventory levels are relatively unchanged in recent weeks. Watch the Market Action Index for changes as it can be a leading indicator for price changes.
Median Number of Bathrooms
Altos Research Value Statistics

Market Action Index Strong Buyer's 21.8 == The Market Action Index answers the question "How's the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies a seller's advantage. Below 30, conditions give the advantage to the buyer.
Trend Key:
No change
== Strong upward trend Strong downward trend = Slight upward trend Slight downward trend
Characteristics per Quartile

Quartile
Top/First Upper/Second Lower/Third Bottom/Fourth
Median Price Sq. Ft. Lot Size Beds Baths Age Inventory New Absorbed DOM
$ 425,000 $ 300,000 $ 242,475 $ 149,450
3431 10 - 20 acres 2970 not available 2892 not available 1922 not available
4.0 4.0 4.0 3.0
3.2 3.0 3.0 2.0
6 6 7 8
23 23 24 24
2 0 3 0
3 0 3 5
95 116 84 97
Most expensive 25% of properties Upper-middle 25% of properties Lower-middle 25% of properties Least expensive 25% of properties
Page 7 of 11
Neighborhood Detail
PHOENIX, AZ 85085
Median Price
The market for this zip code continues its bounce again this week. We're a long way from the market's high point so watch the Market Action Index to predict how long this trend will last.
7-day Average
90-day Average
Quartile Prices
In the quartile market segments, we see prices in this zip code 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
Page 8 of 11
Neighborhood Detail
PHOENIX, AZ 85085
Price per Square Foot

The market appears to be placing an increasing premium on homes. When list prices and price per square foot consistently increase in tandem, as they're doing now, you can often find short-term investment opportunities. Watch the Market Action Index for persistent changes as a leading indicator for these trends to flatten or drop.
7-day Average
90-day Average
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 to the Market Action Index and Days on Market trends to gauge whether buyer interest is changing with the available supply.
7-day Average
90-day Average
Page 9 of 11
Neighborhood Detail
PHOENIX, AZ 85085
Market Action Index

The PHOENIX, 85085 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Index stands at 21.80. With several months of inventory available at the current sales rate, buyers should find ample choice.
90-day Average
Market Action Index per Quartile

Not surprisingly, all quartiles are in the Buyer's Market zone with several months of inventory given the current levels of demand. Watch the quartiles for changes before the overall market shifts.
First/Top
Second/Upper
Third/Lower
Fourth/Bottom
Residential house prices are a function of supply and demand, and market conditions can be characterized by analyzing those factors. Watch this index for sustained changes: if the index falls into the Buyers Advantage zone (below 30) for a long period, prices are likely in for a downward correction.
Page 10 of 11
Neighborhood Detail
PHOENIX, AZ 85085
Days on Market
The properties have been on the market for an average of 98 days. Half of the listings have come newly on the market in the past 56 or so days.
7-day Average
90-day Average
Days on Market per Quartile

It is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles.
First/Top
Second/Upper
Third/Lower
Fourth/Bottom
Page 11 of 11

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Kelli Grant Realty Group MARKET UPDATE

Report for the week of April 30, 2012

Single Family Homes in

Real-Time Market Profile

Supply and Demand

Median Number of Bathrooms

Altos Research Value Statistics

Characteristics per Quartile

$ 499,000 $ 230,000 $ 122,000 $ 59,000

3208 2115 1587

1.0 - 2.5 acres 5.0 - 10 acres 1.0 - 2.5 acres

4.0 3.0 3.0 3.0

3.0 2.0 2.0 2.0

765 765 765 765

65 100 118 123

68 107 109 128

160 113 104 107

1319 not available

Monday April 30, 2012

Single Family Homes in

Kelli Grant Group | www.PhoenixHomeResource.com

Monday April 30, 2012

Single Family Homes in

Kelli Grant Group | www.PhoenixHomeResource.com

Price per Square Foot

Inventory of Properties Listed for Sale

Monday April 30, 2012

Single Family Homes in

Kelli Grant Group | www.PhoenixHomeResource.com

Market Action Index

Market Action Index per Quartile

Monday April 30, 2012

Single Family Homes in

Kelli Grant Group | www.PhoenixHomeResource.com

Days on Market per Quartile

Monday April 30, 2012

Single Family Homes in

Real-Time Market Profile

Supply and Demand

Median Number of Bathrooms

Altos Research Value Statistics

Characteristics per Quartile

$ 425,000 $ 300,000 $ 242,475 $ 149,450

4.0 4.0 4.0 3.0

3.2 3.0 3.0 2.0

Monday April 30, 2012

Single Family Homes in

Monday April 30, 2012

Single Family Homes in

Price per Square Foot

Inventory of Properties Listed for Sale

Monday April 30, 2012

Single Family Homes in

Market Action Index

Market Action Index per Quartile

Monday April 30, 2012

Single Family Homes in

Days on Market per Quartile

Monday April 30, 2012