Friday, December 5, 2008

Northwest Valley Market Statistics

I pulled some numbers from the MLS last night, then sliced and diced them to get an understanding of the current Northwest Valley marketplace, by City and by Price Range.  This is similar to the analysis post I wrote back in August, and unfortunately today's market looks worse by almost every single metric.

Northwest Valley by City

Northwest Valley5,5737407.53


Northwest Valley by Price Range

$0 - $250k3,9465946.64
$250k - $400k1,0451099.59
$400k - $800k4453512.71
$800k +137268.50
Northwest Valley5,5737407.53


Northwest Valley by City by Price Range

$0 - $250k1,6632347.11
$250k - $400k282309.40
$400k - $800k163918.11
$800k +440infinite


$0 - $250k9381247.56
$250k - $400k453538.55
$400k - $800k1931711.35
$800k +87187.00


$0 - $250k1,3452365.70
$250k - $400k3102611.92
$400k - $800k8999.89
$800k +616.00


Definitions and Variables - here are the criteria I used for this exercise:
Northwest Valley:  Glendale, Peoria, Surprise

Single Family detached homes only

Active:  homes currently listed for sale as Active in the MLS

Sold:  homes sold between 10/15/2008 and 11/15/2008

Inventory:  the number of months it would take to sell all the Active homes at the current sales pace if no new homes came on the market.

When I did this exercise four months ago, I thought the sales pace was quicker than I had expected, and I wondered aloud if we might be turning a corner.  I think today's exercise answers that question with a resounding NO (although back in August I didn't foresee the impending financial crises and government bailout.)

No predictions from me today - use these numbers as you see fit, and I'll keep you posted with updates along the way.

Your keeping his eyes and ears open Realtor,

Chris Butterworth