Phoenix/Scottsdale Home Sales for November, 2011 from Jeff Cameron Realtor

Phoenix/Scottsdale Home Sales for November 2011 from Jeff Cameron Realtor
Happy Holidays!
It is December and today I am reviewing the homes sales in metro Phoenix and Scottsdale for the month of November, 2011.
Active/Available homes = 15,173 down 50% from a year ago
Pending = 15,190 up 11% from last year and more than the amount available
Closed = 6,100 up 10% from a year ago
New Sales = 5,597 virtually flat from this time last year.

The market is correcting to the positive! Average price per square foot is at $76.43 valley wide. This is down .5% from last year but up 5.6% from earlier this year. Home values are rising!
I hear many people asking about the product mix. How many of the home sales are Foreclosure homes and how many are Short Sales. So here is the product mix:

Foreclosure Homes
Active/Available 12%
Pending 16%
Closed 30%

Short Sales

Active/Available 17%

Pending 64%

Closed 30%

Traditional or Retail
Active/Available 71%

Pending 20%

Closed 39%

As the foreclosures have dropped off that has affected how many foreclosure homes can be sold. A year ago the foreclosure market was 47% of home sales. Today they have dropped to 30%. More homes are being sold as a Short Sale today. Today Short Sales make up 30% of home sales, up from 24% a year ago.

The Traditional market has seen a large increase from 29% a year ago to 39% today. But remember, many of these home sales are Fix and Flip investors.

If you have a question about the real estate market, please call me, Jeff Cameron 480-502-7699 or email Jeff@TheCameronTeam.com