Real Estate Update and Market Trends

Absorption Rate/Current inventory

  • 2.85,2.86,2.69,2.59,2.57,2.47,2.39,2.27,2.2,2.17,2.17,2.41

Information is deemed to be reliable, but is not guaranteed. © 2023

The chart/graph to the LEFT depicts the current "absorption rate", or as I call in current inventory.  

In short, the current absorption rate is a measurement of current homes available for sale as a ratio of homes sold.  When looking at the ratio, one can determine the current absorption rate.

The aborption rate helps us determine if we are either in a seller, buyer or transitional market.  Generally under 3 months will mean a low level of inventory and benefits sellers (seller market).  A little above 3 months will be a transitional market (balanced with no real benefit to either buyer or seller).  Lastly, we have the buyer market which is over 3.5 months inventory and will generally benefit buyers.

Listing to Sale Ratio

Listing to sale ratio, is just what it sounds like a ratio or percentage that a home sells for vs. property listing price.  Generally if you have something over 100%, then property would have sold for over list price.

If a home sells for under the 100% mark, then it would have sold for under asking price.  Notice that the information is current and extends back for a 12 month period of time.

  • 93.2,91.8,91.3,92.0,92.9,94.0,94.7,95.6,96.2,96.7,96.6,96.8

Information is deemed to be reliable, but is not guaranteed. © 2023

Average days to sell

  • 54.9,60.6,68.2,79.0,81.1,76.5,73.2,68.4,64.5,58.5,57.5,55.6

Information is deemed to be reliable, but is not guaranteed. © 2023

The average days cumulative days on market is a chart that will show how long on average homes on the Phoenix MLS took to sell.  Keep in mind, this is for the entire city of Phoenix and it can vary a bit from town to town, subdivision to subdivision and different price ranges.

Average list and Sale Prices

The averages are a great way to help current home owners make decisions on whether it is the right time to sell or not.  If they can see that time needed to sell, and values they can get for selling are within the average of what they are looking for..........then it is a great time to sell.

The chart to the side shows average list prices, sale prices, and even average pending prices (prices of homes under contract).  The average chart will show current as well as some historic averages going back a full year.

  • 667794.98,672258.11,672608.42,702336.77,749833.28,774377.63,795409.22,824963.57,817709.76,796941.32,793463.46,798709.05
  • 547197.72,525487.86,525831.16,544857.50,556651.15,579775.04,585778.62,585849.58,570994.45,555790.03,568431.81,576112.24
  • 541963.87,527472.77,516492.36,516728.75,524272.11,541956.40,553112.85,566270.49,581523.43,557343.11,554387.15,555985.45

Information is deemed to be reliable, but is not guaranteed. © 2023

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