Contract Ratio indicates how "hot" a market it. It specifically measures the number of active sales contracts under negotiation relative to the supply of active listings.

The higher the number the greater the buying activity relative to supply. If this number rises then it is a sign of growing contract activity and a positive signal for sellers.

Conversely a falling number is a sign of a weakening market - either supply of active listings is increasing or...

Below is a list of cities that have a very low supply of inventory. You'll experience multiple offers here. There are also other cities, such as Gilbert that are receiving multiple offers.



............City...Zip...Months Supply

1. Phoenix 85035 - 1.1
2. Phoenix 85037 - 1.5
3. Phoenix 85017 - 1.5
4. Phoenix 85031 - 1.5
5. Glendale 85303 - 1.5
6. Glendale 85301 - 1.6
7. Glendale 85302 - 1.7
8. Glendale 85307 - 1.7
9. Avondale 85392 - 1.7
10. Phoenix 85009 - 1.8
11. Phoenix 85033 -

...

I'll post some statistics periodically throughout the month as I get the time and find something that I feel will be of interest, or something that I'm working on at the moment for myself or a client.

I'll date them in the Title line to make it easier for people to search back to find something they want to see instead of having to read each post.

Median Prices June 4, 2009

City...........Week 15 April.......Week 23 June
Phoenix..........$60,735..............$75,000
Gilbert............$195,000............$189,000
Mesa..............$129,000............$134,900
Glendale.........$105,000............$95,500
Surprise..........$132,350.......... $137,000
Queen Creek...$107,000...........$109,500
Scottsdale......$400,000............$400,000

Glendale declined to $91,000 in May...

The May numbers just came out on the Cromford Report. Here they are:

DATE................NOTS......... TDS..........CTS......... CHANGE........PENDING

May 2009...........8,613...........3,809.........2,354 .............1,589...............44,760

April 2009...........9,092...........3,106.........2,666 .............3,427...............43,171
March 2009.......10,689..........3,377.........3,168.... .........5,189...............39,744

These...