I decided to dig a little deeper into the MLS statistics tonight, and found what I think is some pretty useful information. I've been writing for a long time now about how "the market" is different in Phoenix than it is at a national level, and that even within Phoenix there are great differences between different suburbs, subdivisions, and even price ranges. Well, here's a graph which shows that difference right here in the Fletcher Heights area. Check this out:
Sometimes trends, both good and bad, are easier to spot when you look at a graph. It's pretty obvious that we have more homes on the market in the lower price ranges, but that these homes are selling faster than the others – anything under $325,000 looks like a balanced market! And unfortunately it looks like it's going to take a while longer to absorb the homes currently for sale at the higher end of the price range.
Also, notice the last six month's worth of sales – do I see an upward trend? Or is that just seasonality? We'll find out more in a couple of months...
- Chris Butterworth