Phoenix real estate - Market update July '08

Even though the dog days of summer are upon us the Phoenix real estate market is still pluggin along nicely. Here are July's numbers for the week ending 7/31/08:

Active Listings: 13,464

Homes Pending: 1,770

Homes sold in last 30 days: 1,366 (up 12% over June '08, up 25% from July '07)

Burn rate (Inventory on market/by homes sold last 30 days) = 10 months supply

Avg. Sale price (Solds): $219,501 (Down 8% from June '08, Down 28% from July '07)

Avg. price per sq. ft. (Solds): $125.98 (Down $8 per Sq. Ft. from June '08, Down 30% from July '07)

Avg. Days on Market (Solds): 112 (Down 16 days, 12% from June 08, Up 17 days, 18% from July '07)

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