October 2014

Metro Phoenix Housing Market Snapshot
October 31, 2014
All Area TODAY LAST MONTH LAST YEAR 2 YEARS AGO
10/31/2014 9/30/2014 10/31/2013 10/31/2012
Active listing 27,613 26,861 26,509 22,851
Pending Listing 5,455 5,469 6,106 9,912
Sales Per Month 5,686 6,580 5,838 6,970
Monthly Supply 4.7 4.3 4.5 3.4
Monthly Sales $/SF $127.77 $126.13 $124.45 $103.65
Sale Price vs Listing Price 97.04% 96.77% 97.08% 97.74%
Listing Success Rate 65.70% 69.80% 70.10% 75.10%
Data Source: Arizona Regional Multiple Listing Service (ARMLS)
For other cities or area, please call (480)292-8281 or email gchen@az-realty.com
Above data was compiled by Gary Chen, Associate Broker, ABR, CIAS, CNE, SFR
Some historical data would have been adjusted due to re-alignment with county recorder.
Original data complied by The Cromford Report
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ARMLS RENT Check™ – October, 2014

Median Lease: $1,175 vs $1,195, Month-over-Month -1.67%

Average Lease: $1,306 vs $1,378, Month-over-Month -5.22%

Average Days on Market: 31 vs 29, Month-over-Month +6.90%

Rent Check Quotient™: 31.97% vs 35.5%, Month-over-Month -3.53%

Median Lease decreased by 1.67% to $1,175 and that is slightly higher than June 2014. Average Lease went down by 5.22% partly due to the seasonal factor. Days on Market (DOM) increased by 2 days or 6.90% and this is again reflecting the seasonal factor.

Rent Check Quotient is at the range of 30% – 36% in a normal market. RCQ has been coming down from 66% in the beginning of 2014 to now 31.97% and the rental market started cooled off for the year end holiday season.

Rent Check Quotient™ (RCQ™) is the ratio of closed rentals to closed sales.

All above stats are for single family homes rentals. Condominium and apartment rentals are not included.

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ARMLS RENT Check™ – September, 2014

Median Lease: $1,195 vs $1,195, Month-over-Month flat

Average Lease: $1,378 vs $1,327, Month-over-Month +3.84%

Average Days on Market: 29 vs 28, Month-over-Month +3.57%

Rent Check Quotient™: 35.5% vs 33.3%, Month-over-Month +2.20%

Median Lease remained flat. Average Lease went up by 3.84%. Days on Market (DOM) increased 1 day or up 3.57%.

Rent Check Quotient is at the range of 30% – 36% in a normal market. RCQ has been coming down from 66% in the beginning of 2014 to 35.5% of September 2014 and still healthy.

Rent Check Quotient™ (RCQ™) is the ratio of closed rentals to closed sales.

All above stats are for single family homes rentals. Condominium and apartment rentals are not included.

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September 2014

Metro Phoenix Housing Market Snapshot
September 30, 2014
All Area TODAY LAST MONTH LAST YEAR 2 YEARS AGO
9/30/2014 8/31/2014 9/30/2013 9/30/2012
Active listing 26,833 26,373 23,478 21,711
Pending Listing 5,937 5,950 6,991 9,801
Sales Per Month 5,481 7,546 6,513 7,570
Monthly Supply 4.3 3.9 3.4 3.0
Monthly Sales $/SF $126.49 $125.64 $119.53 $101.03
Sale Price vs Listing Price 96.63% 97.01% 97.59% 97.96%
Listing Success Rate 67.0% 72.4% 74.2% 76.3%
Data Source: Arizona Regional Multiple Listing Service (ARMLS)
For other cities or area, please call (480)292-8281 or email gchen@az-realty.com
Above data was compiled by Gary Chen, Associate Broker, ABR, CIAS, CNE, SFR
Some historical data would have been adjusted due to re-alignment with county recorder.
Original data complied by The Cromford Report
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August 2014

Metro Phoenix Housing Market Snapshot
August 31, 2014
All Area TODAY LAST MONTH LAST YEAR 2 YEARS AGO
8/31/2014 7/31/2014 8/31/2013 8/31/2012
Active listing 26,313 27,204 21,457 20,734
Pending Listing 5,964 6,535 7,323 10,681
Sales Per Month 7,098 6,065 7,932 7,484
Monthly Supply 3.9 4.1 2.9 2.9
Monthly Sales $/SF $125.89 $127.15 $119.85 $98.44
Sale Price vs Listing Price 97.02% 96.98% 97.73% 97.96%
Listing Success Rate 71.20% 69.60% 78.70% 77.20%
Data Source: Arizona Regional Multiple Listing Service (ARMLS)
For other cities or area, please call (480)292-8281 or email gchen@az-realty.com
Above data was compiled by Gary Chen, Associate Broker, ABR, CIAS, CNE, SFR
Some historical data would have been adjusted due to re-alignment with county recorder.
Original data complied by The Cromford Report
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