Jerry Murphy

The dog days of summer are behind us and the Scottsdale real estate market is still struggling to keep up with the rest of the value. My assessment of this situation is that most homes in Scottsdale do not fit within the conforming loan limits. Therefore people are having difficulties securing loans for homes in this price range. Most homes in Scottsdale are not prime investment properties (negative cash flow on most) so the investors have not yet made their way to Scottsdale like they have in other areas of the valley.

Here are August's numbers for the week ending 8/31/08:

Active Listings: 5,608

Homes Pending: 500

Homes sold in last 30 days: 375 (down 16% from July '08, down 6% from August '07)

Burn rate (Inventory on market/by homes sold last 30 days) = 15 months supply

Avg. Sale price (Solds): $527,441 (Up 1% from July '08, Down 23% from August '07)

Avg. price per sq. ft. (Solds): $215.32 (Up $6 per Sq. Ft. from July '08, Down 22% from August '07)

Avg. Days on Market (Solds): 151 (Down 7 days from July '08, Up 21 days, 16% from July '07)

To learn more about Scottsdale real estate click here

For more information about Anthem Arizona visit: www.allaboutanthem.com

The dog days of summer are behind us and the Phoenix real estate market is really picking up. Here are August's numbers for the week ending 8/31/08:

Active Listings: 13,570

Homes Pending: 1,911

Homes sold in last 30 days: 1,300 (down 5% from July '08, up 32% from August '07)

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

Avg. Sale price (Solds): $207,572 (Down 5% from July '08, Down 33% from August '07)

Avg. price per sq. ft. (Solds): $119.19 (Down $7 per Sq. Ft. from June '08, Down 32% from August '07)

Avg. Days on Market (Solds): 112 (Same as July '08, Up 14 days, 14% from July '07)

To learn more about Phoenix real estate click here

For more information about Anthem Arizona visit: www.allaboutanthem.com

Sorry I got this one out so late. But better late than never. It's also a testament to how busy we've been.

The market continues to remain hot in Anthem. According to the lastest statistics we are very near what is deemed a balanced market, 5 months supply of homes, approximately 90 days on market to sell homes. Prices are not yet increasing, but the rate of price decline has backed off considerably.

Here are the lastest stats for the week ending 8/31/08:

Active Listings: 403

Homes Pending: 98

Homes sold in last 30 days: 78 (Down 4% from July '08, up 214% over August '07)

Burn rate (Inventory on market / by homes sold last 30 days) = 5 months supply

Avg. Sale price (Solds): $270,131 (Down 3% from July '08, Down 20% from August '07)

Avg. price per sq. ft. (Solds): $112.74 (Down $1.37 per Sq. Ft. from July '08, Down 28% from August '07)

Avg. Days on Market (Solds): 108 (Down 35 days, 24% from July 08, Down 23 days, 18% from August '07)

For graphical interpretation of this data please visit: www.allaboutanthem.com

For more general information about Anthem visit: www.onlineatanthem.com

And for more information about myself and my business partner and the Anthem real estate, Phoenix real estate, and Scottsdale real estate markets please visit our website at:

http://www.arizonapremiereliving.com/

Now's the time of the year we love in Phoenix. The weather is starting to cool, but the skies are blue. And typically we see our real estate market heat up as well. That being said, we have seen a tremendous uptick in activity during our summer months as well.

My business partner, Ben Bailey, has prepared some graphs that show indeed, the real estate market here in Phoenix is heating up.

Click here to view these graphs.

Click here for more information about the Phoenix real estate market.