The majority of 2015 has been relatively flat and the third quarter was no exception. Here’s our 2015 3rd QTR market recap for Maricopa County. Overall, there were 22029 sales–this includes all housing product types. This is a snapshot of the overall trends for the 3rd quarter across the county:
Note: the “low” and “high” rows in the above chart represent individual properties.
Of the 22,029 properties that sold last quarter, 1607 or 7% were “distressed” sales–this includes bank owned homes, short sales, auction properties and pre-foreclosure properties.
Here is a graph that shows market activity in units sold for the 3rd quarter:
This graph shows the average days on market trend for the 3rd quarter:
We believe that there is pent-up demand for housing given the relatively low level of market activity over the past three quarters; the low inventory level currently and the favorable loan rates that are available to buyers. For more home buying information, visit our home buying insights page. If you have questions about the market, a community or particular property, please contact one of our outstanding Luxe agents.