Metro Phoenix Housing¹ Market Snapshot – 3/19/2016

City Active Pending Sales DOM² Avg $/SF
Anthem 226 55 48 90 $130.04
Chandler 829 672 314 90 $143.29
Gilbert 896 749 407 80 $133.10
Laveen 207 113 66 90 $97.47
Mesa 1,251 949 549 94 $127.68
Phoenix 3,019 2,441 1,247 90 $146.57
Queen Creek 818 601 279 89 $102.58
Scottsdale 2,639 739 385 150 $229.96
Tempe 257 168 110 92 $149.89
Note¹ – Housing = Single Family Homes, Note² – DOM = Days On Market
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, Designated Broker, ABR, CIAS, CNE, SFR 
Original data complied by The Cromford Report
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ARMLS RENT Check™ – Feb, 2016

Median Lease: $1,250 – flat.

Average Lease: $1,412 – Increase from $1,379 previous month.

Avg. Days on Market: 31 – Decreased from previous 37 days.

Rent Check Quotient™: 2 : 5 – Remains stable.

Closed Rental: 2,351 – Increased from previous 2148 homes.

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

Cap rates and Cash on Cash are still above 5%, It’s still good time to ACT!

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Arizona fully recovered from jobs lost during recession

Arizona has finally recovered all the jobs lost during the Great Recession, according to the latest data from the Arizona Department of Administration. For the first time since October 2007, Arizona has more people in the workforce than ever before.

With 25,300 jobs added in February, the workforce hit a record 2.7 million, topping the 2.69 million workers eight and a half years ago. Arizona’s workforce lost 313,500 jobs between the October 2007 peak month and the trough of 2.37 million workers in September 2010.

Arizona’s February U-3 “conventional” unemployment rate dropped to 5.5 percent from 6.3 percent last year. The rate is also down 0.1 percent from January.

The state gained 79,200 jobs over February 2014, with most of those in education and health services (19,600 jobs), professional and business services (16,800), and trade, transportation and utilities (12,200).

In month-over-month data, governments added the most workers, 14,800, but even with that boost, the total public workforce is 2,400 employees less than last February. Leisure and hospitality (5,900), education and health services (3,100) were the sectors with the next largest boost in employment for the month.

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Top Arizona Elementary Schools

Do you know elementary schools in Anthem and Gilbert are coming up strong? Nonetheless, Chandler Traditional Academy’s Independence campus is still way above all its competitions. Other top elementary schools are scattered among Scottsdale, Ahwatukee and other part of Chandler.

Top 13 Arizona Elementary Schools AzMERIT GreatSchools
Rating
Community
Rating
CTA – Independence, Chandler 87% 10 4
Cherokee, Paradise Valley 79% 10 4
Audrey & Robert Ryan, Chandler 78% 10 4
Kyrene Monte Vista 77% 10 5
North Ranch, Scottsdale 77% 9 4
Greenfield, Gilbert 74% 10 4
Gavilan Peak, Anthem 73% 9 3
Anna Marie Jacobson, Chandler 73% 9 4
Centennial, Gilbert 72% 9 3
CTA – Liberty, Chandler 72% 10 4
Desert Canyon, Scottsdale 72% 10 4
Legend Springs, Glendale 72% 9 4
Pinnacle Peak, Scottsdale 72% 9 4

AzMERIT – Arizona’s Statewide Achievement Assessment for English Language Arts and Mathematics.

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