Monthly Archives: November 2013

Weekly Housing Market Snapshot

November 9, 2013

Metro Phoenix Housing¹ Market Snapshot
November 9, 2013
City Active Pending Sales DOM² Avg $/SF
Anthem 184 42 33 57 $127.46
Chandler 968 288 306 50 $130.57
Fountain Hills 275 21 27 66 $189.75
Gilbert 1,220 319 360 48 $126.47
Glendale 839 275 283 57 $104.23
Laveen 210 89 66 56 $82.76
Maricopa 561 143 105 84 $71.87
Mesa 1,639 454 447 52 $113.51
Peoria 827 247 206 45 $114.87
Phoenix 4,231 1,305 1,175 58 $127.20
Queen Creek 1,011 244 225 71 $89.50
Scottsdale 2,164 300 334 85 $222.28
Tempe 367 86 80 53 $134.86
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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Property Management

ARMLS RENT Check™ – November 13, 2013

Median Lease: $1,095 vs $1,100, Month-over-Month -0.45%

Average Lease: $1,263 vs $1,386, Month-over-Month -8.85%

Avg. Days on Market: 44 vs 41, Month-over-Month +7.32%

Rent Check Quotient™: 55% vs 54%, Month-over-Month +1%

Median Lease went slightly below 3-month average of $1,100 and nothing to worry right now. Average Lease came down from a sudden surge of 10% last month, so this is also normal. Days on Market (DOM) increased by 7.32% to 41 days. This is the 2nd month in a row it increased by 7+% and worth watching further.

Rent Check Quotient increased 1%. 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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Housing Market Intelligence

Apple is coming to East Mesa!

Great news for Mesa and the entire East Valley!

Apple announced last week that it is coming to Mesa to create a manufacturing facility that will create about 2,000 jobs. Located at the former First Solar Inc. factory at Eastmark, the company plans to make high-tech glass for Apple products.

This will be the first significant Arizona presence for Apple Inc., which purchased the former First Solar building for its supplier, GT Advanced Technologies Inc. Along with the 700+ quality jobs that will be created at the plant in the first year, it is anticipated that the project will generate 1,300 construction and associated jobs.

On the other hand, Apple’s manufacturing partner Foxconn who is the major iPhone maker also announced yesterday its intention to move precision molding and robotic manufacturing headquater to US, most likely Arizona, to serve its US clients.

I will be watching this development closely and keep you folks posted.

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Monthly Housing Market Snapshot

October 2013

Metro Phoenix Housing Market Snapshot
October 31, 2013
All Area TODAY LAST MONTH LAST YEAR 2 YEARS AGO
10/31/2013 9/30/2013 10/31/2012 10/31/2011
Active listing  26,509 ↑ 23,772 22,851 27,277
Pending Listing 6,106 ↓ 6,664 9,912 10,575
Sales Per Month  5,813 ↓ 6,654 6,971 7,897
Monthly Supply 4.6 ↑ 3.5 3.4 3.5
Monthly Sales $/SF  $124.01 ↑ $120.60 $103.64 $81.31
Sale Price vs Listing Price  97.09% ↓ 97.51% 97.74% 96.67%
Listing Success Rate  70.00% ↓ 73.90% 75.10% 75.70%
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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