Monthly Archives: October 2013

Weekly Housing Market Snapshot

October 19, 2013

Metro Phoenix Housing¹ Market Snapshot
October 19, 2013
City Active Pending Sales DOM² Avg $/SF
Anthem 190 31 39 52 $124.21
Chandler 936 298 319 47 $135.05
Fountain Hills 231 22 28 104 $193.18
Gilbert 1,123 386 338 43 $125.85
Glendale 824 331 277 48 $105.10
Laveen 189 112 79 53 $78.51
Maricopa 526 155 119 67 $68.30
Mesa 1,485 468 447 50 $111.42
Peoria 788 270 236 54 $119.50
Phoenix 4,101 1,413 1,232 51 $122.74
Queen Creek 970 284 236 63 $90.51
Scottsdale 2,019 299 346 85 $219.88
Tempe 360 74 90 43 $136.28
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, Associate Broker, ABR, CIAS, CNE, SFR
Original data complied by The Cromford Report
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Weekly Housing Market Snapshot

October 12, 2013

Metro Phoenix Housing¹ Market Snapshot
October 12, 2013
City Active Pending Sales DOM² Avg $/SF
Anthem 190 31 39 52 $124.21
Chandler 917 303 329 45 $134.85
Fountain Hills 231 22 28 104 $193.18
Gilbert 1,115 373 358 45 $123.79
Glendale 786 336 283 47 $105.80
Laveen 189 112 79 53 $78.51
Maricopa 526 155 119 67 $68.30
Mesa 1,485 468 447 50 $111.42
Peoria 744 254 256 58 $120.52
Phoenix 3,977 1,435 1,310 49 $122.94
Queen Creek 940 283 269 61 $90.29
Scottsdale 1,933 311 352 78 $212.33
Tempe 352 73 101 50 $131.89
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, Associate Broker, ABR, CIAS, CNE, SFR
Original data complied by The Cromford Report
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Weekly Housing Market Snapshot

October 5, 2013

Metro Phoenix Housing¹ Market Snapshot
October 5, 2013
City Active Pending Sales DOM² Avg $/SF
Anthem 177 32 40 46 $124.79
Chandler 887 299 324 45 $131.71
Fountain Hills 222 17 35 106 $188.45
Gilbert 1,078 370 353 46 $124.22
Glendale 757 343 283 43 $103.18
Laveen 179 112 71 57 $80.66
Maricopa 526 154 124 71 $68.36
Mesa 1,397 493 445 50 $111.51
Peoria 694 234 276 56 $119.02
Phoenix 3,867 1,375 1,362 49 $123.34
Queen Creek 903 276 282 58 $91.67
Scottsdale 1,822 302 358 76 $212.68
Tempe 329 79 103 49 $133.33
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, Associate Broker, ABR, CIAS, CNE, SFR
Original data complied by The Cromford Report
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Monthly Housing Market Snapshot

September 2013

Metro Phoenix Housing Market Snapshot
September 30, 2013
All Area TODAY LAST MONTH LAST YEAR 2 YEARS AGO
9/30/2013 8/31/2013 9/30/2012 9/30/2011
Active listing  23,151 ↑ 21,359 21,624 26,869
Pending Listing 6,576 ↓ 7,302 9,714 10,841
Sales Per Month  6,323 ↓ 7,241 6,292 7,890
Monthly Supply 3.4 ↑ 2.9 3.0 3.4
Monthly Sales $/SF  $120.22 ↑ $119.26 $101.63 $80.33
Sale Price vs Listing Price  97.53% ↓ 97.76% 97.92% 96.72%
Listing Success Rate  73.50% ↓ 77.60% 74.50% 75.80%
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
Original data complied by The Cromford Report
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Property Management

ARMLS RENT Check™ – October 3, 2013

Median Lease:  $1,100 vs $1,100, Month-over-Month flat

Average Lease:  $1,386 vs $1,260, Month-over-Month +10%

Avg. Days on Market:  41 vs 38, Month-over-Month +7.9%

Rent Check Quotient™: 54% vs 59%, Month-over-Month  -5%

Median Lease at $1,100 is the 3rd month in a row and the Average Lease surged 10% month-over-month. The Days on Market (DOM) also increased by 7.9% to 41 days. It shows the rental market just went a little bit soft for the month of August then it came back on strong for September 2013.

On the other front, the Rent Check Quotient lowered to 54% close to the even split of # of lease and # of home sales. In the healthy housing market, the RCO™ is at the range of 30% – 36%. So, the mumber of leases is still on the high side and it needs to be watched closely.

Rent Check Quotient™ (RCQ™) is derived by dividing the # of leases by the # of closed sales

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

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Property Management

ARMLS RENT Check™ – September 2, 2013

Median Lease:  $1,100 vs $1,100, Month-over-Month flat

Average Lease:  $1,260 vs $1,276, Month-over-Month -1.25%

Avg. Days on Market:  38 vs 38, Month-over-Month flat

Rent Check Quotient™: 59% vs 48%, Month-over-Month  +11%

Both Median Lease and Days on Market (DOM) stay flat and Average Lease went under 1.25%month-over-month. It shows the rental market was a little bit soft for the month of August 2013.

Further more, the Rent Check Quotient added by 11% to reach 59% meaning number of leases is more than the number of home sales. In the healthy housing market, the RCO™ is at the range of 30% – 36%. So, the mumber of leases is a lot higher than normal market. This needs to be watched closely.

Rent Check Quotient™ (RCQ™) is derived by dividing the # of leases by the # of closed sales

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

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