Real Estate Market Statistics Sept. 09
Saturday, September 26, 2009
Market Statistics – 9/14/09 |
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| Number of homes with trustee sales recorded against the property. | 50,073 |
| Active Foreclosures per month: |
August ’06 4,000. August ’07 8,000. August ’09 50,000 |
| Properties that didn’t sell, and went back to the lender at auction: |
July ’07 600 July ’08 3800 July ’09 4500 |
| Residential sales for Greater Phoenix – all categories | August ‘08 6,166 August ’09 8.038 |
What Residential Properties Types are People Buying? |
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| Single Family Townhouse Condo Patio Home Mobile Home Twin Home Loft |
88-90% |
| Total: | 8,552 April ’09 9,284 May ‘09 9,350 June ‘09 9,096 July ‘09 8,038 August ‘09 |
Number of Lender-Owned and Short-Sales |
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Short Sales: Jan 419, Feb 471, Mar 701, Apr 783, May 979, Jun 1,152, Jul 1,351 Aug 1,444
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Lender-Owned Sales: Jan 3,077, Feb 3,566 Mar 5,053 Apr 5,564, May 5,835, Jun 5,351, Jul 4,847, Aug 4,067
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Sales by percentage: |
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Short Sales: Jan 8.9 Feb 8.6 Mar 9.2 Apr 9.2 May 10.6 Jun 12.3 Jul 14.8 Aug 18
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Lender-Owned Sales: Jan 65.6 Feb 65.7 Mar 66.7 Apr 65.4 May 63.2 Jun 57.2 Jul 53.2 Aug 50.6
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Total % of homes sold that were short sales and lender-owned: |
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Jan 74.5 Feb 74.3 Mar 75.9 Apr 74.6 May 73.8 Jun 69.5 Jul 68.6 Aug 68.6
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| ALL AZ MLS listings: | Lender-owned: Jul 10 – 4,805 Aug 22 – 4,540 Sep 14 – 4,350 |
| Short-Sales: | Jul 10 – 7,233 Aug 22 – 7,477 Sep 14 – 7,642 |
| Other: | Jul 10 – 19,951 Aug 22 – 19,373 Sept 14 – 19,233 |
| Total sales: | Jul 10 – 31,989 Aug 22 – 31,390 Sep 14 – 31,225 |
The Fallacy of Division
The Fallacy of Division is the mistaken assumption that what is true of the whole residential market is necessarily true of a specific residential property.
So when a seller says “The value of my home went up because I live in Phoenix and median home sales values went up in Greater Phoenix” this is not necessarily true because what is true of the overall market is not necessarily true of a specific market.
To see if a specific home value went up in August, you need to do your CMA research and consider getting a pre-listing appraisal from an appraiser that is familiar with the neighborhood.
Mean Price per square foot – all categories |
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| Lender-Owned: | Jun $63.36 Jul 63.91 Aug 74.93 |
| Short-Sales: | Jun $82.88 Jul $81.94 Aug $79.42 |
| No special listing condition: | Jun $117.90 Jul $113.40 Aug $110.60 |
August 2009 Single Family Home Sales |
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| Over 3,000,000 | 3 |
| 2,000,000 to 2,999,999 | 11 |
| 1,500,000 to 1999,999 | 8 |
| 1,000,000 to 1,499,999 | 39 |
| 900,000 to 999,000 | 19 |
| 800,000 to 899,999 | 22 |
| 700,000 to 799,999 | 29 |
| 600,000 to 699,999 | 44 |
| 500,000 to 599,999 | 78 |
| 400,000 to 499,999 | 188 |
| 350,000 to 399,999 | 177 |
| 300,000 to 349,999 | 238 |
| 250,000 to 299,999 | 384 |
| 200,000 to 249,999 | 668 |
| 150,000 to 199,999 | 1,091 |
| 100,000 to 149,999 | 1,663 |
| 50,000 to 99,999 | 1,814 |
| Under $50,000 | 589 |
| Total: | 7,065 |
Buyers: Should You Wait to Purchase?
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Scenario: Purchase price going down 10% while interest rate goes up 1%
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#1
$1,533.33 |
#2
$1,535.93 |
| Purchase price $300,000 | Value $300,000 |
| Down payment 30,000 (10%) | Value drops 30,000 or 10% |
| Loan amount 270,000 at 5.5% int. rate | Purchase price 270,000 |
| Monthly payment $1,533.33(principle & interest) | Down payment 27,000 (10%) |
| Loan amount 243,000 at 6.5% | Monthly payment $1,535.93 (principle & interest) |
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