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8/2/2019 03 12 Market Update [Condo] AZ PHOENIX 85086
1/11
MARKET UPDATEKelli Grant Realty Group
Current Real Estate Market Conditions for Condos & Townhomes
Trends in Pricing Current Levels of Supply and Demand Value Metrics
Report for the week of
March 12, 2012
Presented by Kelli Grant Group Moving People Through Good DeedsPlatinum Premier [email protected](623) 239-4402
PHOENIX, AZ 850
Powered by Altos Research LLC | www.altosresearch.com | Copyright 2005-2010 Altos Research LLC
8/2/2019 03 12 Market Update [Condo] AZ PHOENIX 85086
2/11
Median List Price
35.5
Percent Relisted (reset DOM)
1178
2.0
6 %
Median Number of Bathrooms
135
Inventory of Properties Listed
$ 71
Percent Flip (price increased)
Median House Size (sq ft)
$ 80,000
25 %
2.0
Market Action Index
Median Number of Bedrooms
Asking Price Per Square Foot
n/a
Percent of Properties with Price Decrease
Seller's Advantage
+
+
+
+
Altos Research Value Statistics
Most Expensive Listing
Average Days on Market (DoM)
ottom/Fourth
Lower/Third
Upper/Second
Top/First
This WeekReal-Time Market Profile Trend
The Market Action Index answers the question "How's the Market?" by measuringthe current rate of sale versus the amount of the inventory. Index above 30implies a seller's advantage. Below 30, conditions give the advantage to thebuyer.
Supply and Demand
Characteristics per Quartile
7 101708
1322.0 26
2.0
15
137
2.0 162
123
16
22
31
$ 64,325
16
19
163
2.0
142.0
888
162
$ 29,900
2.0
147
$ 102,000
2.0$ 260,000
18
33
1230
With inventory and days-on-marketbasically unchanged and the MarketAction Index decreasing, the marketis not sending strong directionalsignal for the near-term outlook.
Monday March 12, 2012
Kelli Grant Group | www.PhoenixHomeResource.com
162
1038
1.0
The median list price in PHOENIX, AZthis week is $80,000. The 649
properties have been on the marketfor an average of 135 days.
Most expensive 25% of properties
Upper-middle 25% of properties
Lower-middle 25% of properties
Least expensive 25% of properties
Quartile Median Price Beds Baths Age Inventory New Absorbed DOMSq. Ft.
No change
Strong upward trend Strong downward trend
Slight upward trend Slight downward trend+
==
=
PHOENIX,
City Overview
Least Expensive Listing
Average List Price
Average Age of Listing
649
$ 2,459,500
$ 12,500
$ 144,340
24
Trend Key:
In the last few weeks the market hasachieved a relative stasis point interms of sales to inventory.However, inventory is sufficientlylow to keep us in the Seller's Marketzone so watch changes in the MAI. Ifthe market heats up, prices arelikely to resume an upward climb.
Page 2 of 11
Condos & Townhome
8/2/2019 03 12 Market Update [Condo] AZ PHOENIX 85086
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Kelli Grant Group | www.PhoenixHomeResource.com
City OverviewPHOENIX,
Monday March 12, 2012
Median PriceDespite this week's up tic, the market seems to have paused around this plateau. The Market Action Index is a good leadingindicator for the durability of this shift.
90-day Average7-day Average
Quartile PricesPrices have settled at a price plateau across the board. Prices in all four quartiles are basically mixed. Look for a persistent shift(up or down) in the Market Action Index before prices move from these current levels.
First/Top Second/Upper Third/Lower Fourth/Bottom
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Kelli Grant Group | www.PhoenixHomeResource.com
City OverviewPHOENIX,
Monday March 12, 2012
Price per Square FootThe market plateau is seen across the price and value. The price per square foot and median list price have both beenreasonably stagnant. Watch the Market Action Index for persistent changes as a leading indicator before the market moves fromthese levels.
90-day Average7-day Average
Inventory of Properties Listed for Sale
Inventory has been relatively steady around these levels in recent weeks.
90-day Average7-day Average
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Kelli Grant Group | www.PhoenixHomeResource.com
City OverviewPHOENIX,
Monday March 12, 2012
Market Action IndexThe PHOENIX market is currently in the Seller's Advantage zone (greater than 30). The 90-day Market Action Index stands at35.52 which indicates that demand is strong and available supply of homes gets snapped up relatively quickly.
Buyers/Sellers Cutoff90-day Average
Market Action Index per QuartileThe lowest segment of the market (Quartile 4) is the only segment in the Buyer's Market zone with several months of inventorygiven the current rate of demand for homes in the quartile. The rest of the market (Quartiles 1, 2, and 3) is showing demandstrength in the Seller's Market zone. Expect pricing conditions to favor the buyer at the low end.
First/Top Second/Upper Third/Lower Fourth/Bottom
Buyers/Sellers Cutoff
Residential house prices are a function of supply and demand, and market conditions can be characterizedby analyzing those factors. Watch this index for sustained changes: if the index falls into the BuyersAdvantage zone (below 30) for a long period, prices are likely in for a downward correction.
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Kelli Grant Group | www.PhoenixHomeResource.com
City OverviewPHOENIX,
Monday March 12, 2012
Days on MarketThe properties have been on the market for an average of 135 days. Half of the listings have come newly on the market in thepast 77 or so days.
90-day Average7-day Average
Days on Market per QuartileIt is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles.
First/Top Second/Upper Third/Lower Fourth/Bottom
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Median List Price
23.7
Percent Relisted (reset DOM)
1204
2.0
14 %
Median Number of Bathrooms
167
Inventory of Properties Listed
$ 82
Percent Flip (price increased)
Median House Size (sq ft)
$ 99,900
29 %
2.0
Market Action Index
Median Number of Bedrooms
Asking Price Per Square Foot
n/a
Percent of Properties with Price Decrease
Buyer's Advantage
+
==
==
==
Altos Research Value Statistics
Most Expensive Listing
Average Days on Market (DoM)
ottom/Fourth
Lower/Third
Upper/Second
Top/First
This WeekReal-Time Market Profile Trend
The Market Action Index answers the question "How's the Market?" by measuringthe current rate of sale versus the amount of the inventory. Index above 30implies a seller's advantage. Below 30, conditions give the advantage to thebuyer.
Supply and Demand
Characteristics per Quartile
6 01469
492.0 6
2.0
0
38
2.0 2
434
0
0
8
$ 99,900
0
0
2
0.0
02.5
1206
2
$ 89,100
2.5
127
$ 117,125
3.0$ 121,775
8
1
1311
Inventory has been lightening latelyand the Market Action Index has beentrending up. Though days-on-marketis increasing, these are mildly positiveindications for the market.
Monday March 12, 2012
Kelli Grant Group | www.PhoenixHomeResource.com
1
1204
2.0
The median list price in PHOENIX, AZ85086 this week is $99,900. The 7
properties have been on the marketfor an average of 167 days.
Most expensive 25% of properties
Upper-middle 25% of properties
Lower-middle 25% of properties
Least expensive 25% of properties
Quartile Median Price Beds Baths Age Inventory New Absorbed DOMSq. Ft.
No change
Strong upward trend Strong downward trend
Slight upward trend Slight downward trend+
==
=
PHOENIX, AZ 850
Neighborhood Detail
Least Expensive Listing
Average List Price
Average Age of Listing
7
$ 121,775
$ 83,500
$ 104,861
7
Trend Key:
The market has shown someevidence of slowing recently. Bothprices and inventory levels arerelatively unchanged in recentweeks. Watch the Market ActionIndex for changes as it can be aleading indicator for price changes.
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Kelli Grant Group | www.PhoenixHomeResource.com
Neighborhood DetailPHOENIX, AZ 850
Monday March 12, 2012
Median PriceWe continue to see prices in this zip code bouncing around this plateau. Look for a persistent up-shift in the Market Action Indexbefore we see prices move from these levels.
90-day Average7-day Average
Quartile PricesIn the quartile market segments, we see prices in this zip code have settled at a price plateau across the board. Prices in allfour quartiles are basically mixed. Look for a persistent shift (up or down) in the Market Action Index before prices move fromthese current levels.
First/Top Second/Upper Third/Lower Fourth/Bottom
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Kelli Grant Group | www.PhoenixHomeResource.com
Neighborhood DetailPHOENIX, AZ 850
Monday March 12, 2012
Price per Square FootThe value placed on homes continues to increase, despite the fact that prices in general have been basically flat recently.These conditions can arise when inventory is light and more, smaller homes have more influence on overall prices.
90-day Average7-day Average
Inventory of Properties Listed for Sale
Inventory has been falling in recent weeks. Note that declining inventory alone does not signal a strengthening market. Look tothe Market Action Index and Days on Market trends to gauge whether buyer interest is changing with the available supply.
90-day Average7-day Average
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Kelli Grant Group | www.PhoenixHomeResource.com
Neighborhood DetailPHOENIX, AZ 850
Monday March 12, 2012
Market Action IndexThe PHOENIX, 85086 market is currently in the Buyer's Advantgae zone (below 30), though not strongly so. The 90-day MarketAction Index stands this week at 23.74 so buyers should expect to find reasonable levels of selection.
Buyers/Sellers Cutoff90-day Average
Market Action Index per QuartileNot surprisingly, all quartiles are in the Buyer's Market zone with several months of inventory given the current levels ofdemand. Watch the quartiles for changes before the overall market shifts.
First/Top Second/Upper Third/Lower Fourth/Bottom
Buyers/Sellers Cutoff
Residential house prices are a function of supply and demand, and market conditions can be characterizedby analyzing those factors. Watch this index for sustained changes: if the index falls into the BuyersAdvantage zone (below 30) for a long period, prices are likely in for a downward correction.
age 10 of 11
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Kelli Grant Group | www.PhoenixHomeResource.com
Neighborhood DetailPHOENIX, AZ 850
Monday March 12, 2012
Days on MarketThe properties have been on the market for an average of 167 days. Half of the listings have come newly on the market in thepast 56 or so days.
90-day Average7-day Average
Days on Market per QuartileIt is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles.
First/Top Second/Upper Third/Lower Fourth/Bottom
Page 11 of 11
Condos & Townhom