Single family market shows slight decline of 4.3% in sales volume in the month of January 2008 comparing to the previous month of December 2007. Condos’ and townhouses’ market is in a much critical decline of 22.97% for the South Phoenix area. Seasonal history shows that the market always recovers in February.
Average
Jan-07
Dec-07
Jan-08
% Change Jan-08/Dec-07
% Change 08/07
Asking Price
$298,435
$349,855
$332,725
-4.90%
11.49%
Sales Price
$289,477
$327,569
$310,483
-5.22%
7.26%
% of Asking Price
97.00%
93.63%
93.32%
-0.34%
-3.80%
$/SQFT
$170.48
$168.16
$164.54
-2.15%
-3.49%
Days on Market
89
124
136
9.68%
52.81%
Total Transactions
560
302
289
-4.30%
-48.39%
Average
Jan-07
Dec-07
Jan-08
% Change Jan-08/Dec-07
% Change 08/07
Asking Price
$169,167
$246,135
$405,671
64.82%
139.81%
Sales Price
$164,449
$231,660
$392,449
69.41%
138.64%
% of Asking Price
97.21%
94.12%
96.74%
2.79%
-0.48%
$/SQFT
$153.12
$171.60
$267.88
56.11%
74.95%
Days on Market
77
137
115
-16.06%
49.35%
Total Transactions
150
74
57
-22.97%
-62.00%