The Housing Report

Daniel R. Dishner | (520) 307-1346

DanielD@LongRealty.com | DanielD.LongRealty.com

Central Phoenix | February 2016

In the Phoenix Central area, January 2016 active inventory was 904, a 3% decrease from January 2015. There were 234
closings in January 2016, a 24% increase from January 2015. Months of Inventory was 3.9, down from 4.9 in January
2015. Median price of sold homes was $214,000 for the month of January 2016, up 16% from January 2015. The Phoenix
Central area had 315 new properties under contract in January 2016, up 14% from January 2015.

CLOSED SALES AND NEW PROPERTIES UNDER CONTRACT CENTRAL PHOENIX

Closed Transactions

450

Properties Under Contract

400
350
300
250
200
150
100
50
Jan14

Feb14

Mar14

Apr14

May14

Jun14

Jul14

Aug14

Sep14

Oct14

Nov14

Dec14

Jan15

Feb15

Mar15

Apr15

May15

Jun15

Jul15

Aug15

Sep15

Oct15

Nov15

Dec15

Jan16

ACTIVE LISTINGS AND MONTHS OF INVENTORY CENTRAL PHOENIX

Active Listings

1200

Months of Inventory

12.0

10.0

800

8.0

600

6.0

400

4.0

200

2.0

0.0
Jan14

Feb14

Mar14

Apr14

May14

Jun14

Jul14

Aug14

Sep14

Oct14

Nov14

Dec14

Jan15

Feb15

Mar15

Apr15

May15

Jun15

Jul15

Aug15

Sep15

Oct15

Properties under contract and Home Sales data is based on information obtained from the ARMLS using Brokermetrics software.
All data obtained 02/03/2016 is believed to be reliable, but not guaranteed.

Nov15

Dec15

Jan16

Months of Inventory

Active Listings

1000

The Housing Report

Daniel R. Dishner | (520) 307-1346
DanielD@LongRealty.com | DanielD.LongRealty.com

Central Phoenix | February 2016

MEDIAN SOLD PRICE AND MEDIAN LISTED PRICE CENTRAL PHOENIX

Median Sale Price

300,000

Median List Price

250,000

200,000

150,000

100,000

50,000

Jan14

Feb14

Mar14

Apr14

May14

Jun14

Jul14

Aug14

Sep14

Oct14

Nov14

MONTHLY PAYMENT ON A
MEDIAN PRICED HOME
CENTRAL PHOENIX

Dec14

Jan15

Feb15

Mar15

Apr15

May15

Jun15

Jul15

Aug15

Sep15

Oct15

Nov15

Dec
15

Jan
16

30 YEAR FIXED MORTGAGE RATE

While mortgage rates have increased slightly recently,
they are still well below 2011 levels.
5.0

Year

2006
2015
2016

Median Price Int. Rate

$267,000
$184,500
$214,000

6.140%
3.660%
3.730%

MO. Payment

4.5

$1,543.67
$802.80
$939.21

4.0
3.5
3.0
2.5

Source: Residential median sales prices. Data obtained 02/03/2016 from ARMLS using
Brokermetrics software. Monthly payments based on a 5% down payment on a median
priced home. All data obtained is believed to be reliable, but not guaranteed.

2.0

01/2011

07/2012

01/2014

07/2015

Source: Bankrate.com

DISTRESSED VS. NONDISTRESSED SALES

CENTRAL PHOENIX

95%

5%

95%

5%

The percentage of property sales that are

distressed, meaning bank owned or short sales,
for the current year as compared to the same time
period last year. A lower percentage of distressed
sales can lead to improving market conditions.

Distressed sales and market performance data is based on information obtained from the ARMLS on 02/03/2016. Information is believed to be reliable, but not guaranteed.

The Housing Report

Daniel R. Dishner | (520) 307-1346
DanielD@LongRealty.com | DanielD.LongRealty.com

Central Phoenix | February 2016

MARKET CONDITIONS BY PRICE BAND CENTRAL PHOENIX

Active
Listings

Last 6 Months
Closed Sales
Aug-15 Sep-15 Oct-15 Nov-15 Dec-15 Jan-16

Current
Months of
Inventory

Last 3 Month
Trend Months
of Inventory

Market
Conditions

$1 - 49,999

11

2.5

0.9

Seller

$50,000 - 74,999

25

12

14

17

1.5

1.6

Seller

$75,000 - 99,999

27

11

16

14

11

15

14

1.9

2.0

Seller

$100,000 - 124,999

31

18

23

12

15

21

16

1.9

1.8

Seller

$125,000 - 149,999

42

35

22

20

25

25

31

1.4

1.5

Seller

$150,000 - 174,999

36

29

28

32

14

22

19

1.9

2.0

Seller

$175,000 - 199,999

53

24

12

22

18

22

11

4.8

3.3

Seller

$200,000 - 224,999

38

18

16

12

28

15

2.5

2.2

Seller

$225,000 - 249,999

58

13

20

16

14

26

16

3.6

3.2

Seller

$250,000 - 274,999

52

23

16

21

14

16

13

4.0

4.3

Slightly Seller

$275,000 - 299,999

56

23

24

12

11

12

12

4.7

4.3

Slightly Seller

$300,000 - 349,999

74

16

13

18

12

29

12

6.2

4.2

Slightly Seller

$350,000 - 399,999

56

12

19

10

13

11

5.1

6.2

Balanced

$400,000 - 499,999

92

19

17

20

18

18

13

7.1

5.6

Balanced

$500,000 - 599,999

62

11

10

6.2

5.8

Balanced

$600,000 - 699,999

40

4.4

6.8

Slightly Buyer

$700,000 - 799,999

37

6.2

7.7

Slightly Buyer

$800,000 - 899,999

25

8.3

10.3

Buyer

$900,000 - 999,999

17

17.0

42.0

Buyer

$1,000,000 - and over

78

26.0

23.2

Buyer

TOTAL

904

280

265

250

216

286

234

3.9

3.7

Seller

Sellers Market

Slight Sellers Market

Balanced Market

Slight Buyers Market

Buyers Market

Statistics based on information obtained from ARMLS and using Brokermetrics software on 02/03/2016.
3 month trend in months of inventory is the average of closed sales and active listing data from 11/01/2015 - 01/31/2016. Information is believed to be reliable, but not guaranteed.

The Housing Report

Daniel R. Dishner | (520) 307-1346
DanielD@LongRealty.com | DanielD.LongRealty.com

Central Phoenix | February 2016

CHANGE IN
MEDIAN SALES
PRICE BY AREA

Peoria

North Phoenix

NOV 2014-JAN 2015 TO

NOV 2015-JAN 2016

Scottsdale

Sun City Grand

Sun City West

This heat map represents

the percentage of change
in Phoenix metro median
sales prices from November
2014-January 2015 to
November 2015-January
2016 by area.

Phoenix Central

Percentage of Change

Avondale
Phoenix Southeast Valley

Casa Grande

PHOENIX LUXURY
The luxury segment of the
Phoenix housing market is
represented by residential
sales $800,000 and above.
Data obtained 02/03/2016 from ARMLS
using BrokerMetrics software for closed
residential sales volume $800,000 and
above and deemed to be correct.

CLOSED UNITS JAN - JAN

8.3%
2,632

2015

2,851

2016

UNDER CONTRACT JAN - JAN

10.6%
180

2015

199

2016

MONTHS OF INVENTORY
Jan 2015
Jan 2016

1.0%
20.7
20.5

The Phoenix Central Housing Report is comprised of data for residential properties in the zip codes 85003, 85012, 85013, 85014,
85015, 85016, 85020 & 85021. Real Estate remains very localized and market conditions can vary greatly by not only geographic
area but also by price range. Please feel free to contact me for a more in-depth analysis.
These statistics are based on information obtained from the ARMLS on 02/03/2016. Information is believed to be reliable, but not guaranteed.