Phoenix Homes Inventory Levels By Price RangePosted by Artur Ciesielski on Sunday, November 20th, 2011 at 6:18pm.
It's simply inventory is down for most price segments, yet demand remains high. At last look the Greater Phoenix residential inventory stood at 3.5 months for all residential properties, the weak and strong, under-priced and over-priced, homes and condos.
3.5 months is quite low, but we need to look deeper to see where all the action is and how little there really is in some segments. Keep in mind two things. The overall consensus is that about 4-5 months is a balanced market and the higher the price bracket the higher the months of supply is normal.
There is lots of activity in the price brackets under $200,000 and especially under $150,000 where plenty of home buyers and investors are present and that's why inventory there is just over 2 months or well in favor of the seller. This is the price bracket where buyer compete against each other, against multiple offers for the same home and many of the buyer are cash.
Even the $200,000-$400,000 price ranges are seeing good demand and competition. It's only once you go over $600,000 where the months of inventory go in favor of the buyer, where demand is small and supply still ample.
Written by: Artur Ciesielski | tel. 602.492.8004 | e-mail: email@example.com
Artur is a Realtor and partner with inPhoenix Realty Group of HomeSmart Elite Group and Absolute Exhilaration and an aspiring flaneur. View my personal site for other writings and photos: The Rational Flaneur.
Currently he's in Phoenix or elsewhere when time allows, which is rarely, but that is going to change. You can find him running up miles on his car listening to NPR, cycling the urban Phoenix, in the office on Central or working at one of the many coffee bars in Urban Phoenix.
Be the first to comment on this blog entry!