Houses ARE selling! (Mesa, Casa Grande: days on market, sales, foreclosure)

[sh9730]

So, been awhile (at least a month) since we ve had the home sales arguments made...

Looking at the ARMLS.com website, the newest figures for June have been posted.

Sales remained in essence flat between May (9284) and June (9327) region wide, but still up considerably from June 2008 (5748).

Median sales price however continued its UP trend of last few months and went from 115,500 in April, to 119,900 in May to 125,000 in June. 125,000 is back to levels of February 2009.

Average sales price also continued UP trend with March at 159,090, April at 159,681, May at 163,486 and June at 171,580. This index is now also back at February 09 levels.

Average days on market also continued to drop to 117 days. There is never a large fluctuation of this number, but it has gone from 123 days several months ago to the current 117.

Now, there was an increase in the number of new listings from May (10,876) to June (12,558), but still less new listings than June of last year (13,322).

Average and Median listing prices though are still going DOWN in the region from 149,000 (May) to 145,000 (June Median) and 247,500 (May) to 230,000 (June Average).

My focus on Pinal County shows basically the same pricing trends (UP about 5% from last month), but the NUMBER of sales went down, while the number of new listings followed the greater trends and increased in number with a slightly (albeit not as great a drop as the overall trends) lower asking price (both median and average).

The lower number of sales in Pinal MAY (no way to quantify this) is the best of the lower priced houses are getting picked up quickly. Over half of the monthly sales in Pinal county were from cash buyers, a trend that has been evident most of this year.

Finally, in Casa Grande (this is only area I follow this stat), though the number of people involved in some level of foreclosure is still high and has remained steady at just under 800, I have not seen any INCREASE in filings in the last few months.

Also, though Im not saying this is a good thing, but in CG our single family residence building permits are up again this month to an exciting 33!! But compared to the lows of 10 six months ago, this is alot. So new homes are selling also.

SO, things are selling, and prices are even rising a little. The question is, will the investor/first time buyer phenomenon (sp?) continue, or will fatigue set in?

[Ritchie_az]

"The question is, will the investor/first time buyer phenomenon (sp?) continue, or will fatigue set in?"
I think it will continue through November, then begin to slow. Home prices at the bottom end of the market will stabilize and possibly decline slightly, but I think by spring of 2010, the market will be heading upwards again.

[roosevelt]

Still bargains out there if you want a neighborhood with cars all over the streets and miles to a school.

Try buying into a quiet neighborhood with one or two cars in driveways per block and good schools close by, it is hard.

[ArizonaBear]

Originally Posted by roosevelt

Still bargains out there if you want a neighborhood with cars all over the streets and miles to a school.

Try buying into a quiet neighborhood with one or two cars in driveways per block and good schools close by, it is hard.

My G/F bought a house near the 'barrio' in Mesa; but, our street is heavily Mormon so that seems to keep a lid on things, shall we say.

[Ritchie_az]

"Try buying into a quiet neighborhood with one or two cars in driveways per block and good schools close by, it is hard."
I just purchased a home (or in the process--we have not closed yet) in Estrella Mountain Ranch. The house is in excellent condition, in a very quiet and beautiful neighborhood, and walking distant to one of the top elementary schools in the state.