By Mike Bodeen · 7 May 2018
Our local real estate news continues to be positive for sellers and not so much so for buyers. And now, supply is even dropping in the higher price ranges as well.
Across the board in Metro Phoenix, active listings for sale are down 15.1% compared with last year, per Michael Orr.
Michael’s Cromford Report provides the following data:
In Maricopa County 1.0% of single-family homes and 1.1% of town-homes / condos are currently listed for sale on ARMLS (Arizona Regional Multiple Listing Service) without an existing contract. We normally expect to see an average of around 1.6%.
If you’re a buyer seeking more plentiful supply, then check out these zip codes below. Some locations have far more of their single-family detached homes for sale, including:
Aguila 85320 – 8.3%
Fort McDowell 85264 – 8.0%
Scottsdale 85262 – 6.6%
Paradise Valley 85253 – 5.1%
Rio Verde 85263 – 4.8%
Carefree 85377 – 4.4%
Scottsdale 85255 – 3.5%
Morristown 85342 – 3.2%
New River 85087 – 2.9%
Arlington 85322 – 2.8%
Phoenix 85108 – 2.7%
Scottsdale 85259 – 2.6%
Fountain Hills 85268 – 2.5%
Phoenix 85016 – 2.3%
Cave Creek 85331 – 2.2%
Phoenix 85085 – 2.2%
Wickenburg 85090 – 2.2%
Buckeye 85396 – 2.1%
Peoria 85383 – 2.1%
Anthem 85086 – 1.8%
The ZIP codes with the least number of single family detached homes for sale:
Gila Bend 85337 – 0.0%
Palo Verde 85343 – 0.0%
Phoenix 85035 – 0.2%
Mesa 85210 – 0.2%
Phoenix 85033 – 0.3%
Mesa 85203 – 0.3%
Mesa 85204 – 0.3%
Phoenix 85053 – 0.3%
Phoenix 85037 – 0.3%
Phoenix 85019 – 0.3%
Phoenix 85031 – 0.3%
Phoenix 85027 – 0.3%
Glendale 85302 – 0.3%
Mesa 85202 – 0.3%
Phoenix 85009 – 0.3%
El Mirage 85335 – 0.3%
Phoenix 85040 – 0.3%
Glendale 85306 – 0.3%
Chandler 85224 – 0.3%
Phoenix 85017 – 0.4%
Will things improve for buyers? Historically we would say yes, especially as the weather heats up listing inventory does tend to rise also, but I don’t believe it will be much of an increase. Wish I had better buyer news to report.
Market data referenced in this article comes from The Cromford Report.