Phoenix 85032 Housing Market Report – August 2015

This is the August 2015 housing report for the 85032 zip code in Phoenix, AZ.

August homes sales in Phoenix 85032, for the most part, moved in the wrong direction as you can see by all the red arrows.

Market Report for August 2015 prepared by Nancy Laswick

Active Listings are creeping up. The 85032 market had a small 3% increase in Active Listings but a 9% percent decrease in Pending Listings.  Listing have been on a steady increase over 2015 but the total number of available re-sale homes is still woefully short of traditional balanced market numbers.

Demand is weak. August Sales per Month are down by 15.8% while Sales per Year numbers are off slightly at less than 1%. September continues the down trend in monthly sales that became more noticeable in August.

Homes priced correctly continue to sell. Days on market for homes that sold during August have fallen almost 18% while homes that were listed but didn’t sell during the same time period increased by 3%. Why did some listings sell and others didn’t?

If you look at a random sampling of homes that sold quickly they all have a common denominator, they were priced realistically. Their original list price was very close to the price of comparable homes that sold in the previous 90 days in the same neighborhood.

Days of Inventory and Months Supply continue to increase. Mostly due to the steady increase in listings and the fact that buyer demand continues to be weak overall.

A map of Phoenix Arizona 85032 Two areas of good news are increases in Dollars Per Square Foot and Appreciation. Both measurements are up substantially. The north Phoenix zip code 85032 is still appreciating partly due to it’s popularity.

The wide price range of available homes and it’s location in north Phoenix make it a sought after area for 1st time home buyers as well as buyers looking for a larger  home on a larger lot.

Because 85032 is bisected north to south by the SR 51 you’re only minutes from downtown Phoenix or North Scottsdale.

85032 is 12 square miles of Northeast Phoenix bounded on the north by Union Hills Road on the south by Cactus Road on the west by Cave Creek Road and on the east by Tatum Boulevard.

The inventory of available homes is constantly changing if you would like to follow the real estate market in a specific part of the valley, I can help.

I’ll set up an on going custom search based on your specific wants and needs. You’ll have your own web site portal and be notified as soon as new listings come on the market.  When there is a home you would like to see in person, just let me know – I’d be happy to set up a private showing for you at your convenience.

Click Here to Search Homes for Sale in 85032

Click Here to Search The Entire Phoenix Metro Area

The following category definitions are provided to help you better understand the information supplied in each graphic.

Note: Red arrows don’t necessarily indicate a large negative move and green arrows don’t always indicate a substantial positive turn in the marketplace. They need to be evaluated in comparison to other categories to get an accurate picture of the current marketplace.

  • Active Listings means the number of Multiple Listing Service (MLS) listings active on the date in question.
  • UCB Listings formerly known as AWC listings, means listings that are marked active but are under contract and are still actively soliciting backup offers.
  • Active Listings Excluding UCB means the number of MLS active listings on the date in question, excluding any listings that are under contract and accepting backup offers.
  • Pending Listings means the number of MLS listings under pending contract where escrow has not yet closed.
  • Listings Under Contract means a listing that has accepted a contract but, for whatever reason, has yet to go pending.
  • Sales per Month  means the number of sales which closed this month*. This month means the period which starts with today’s date last month and ends at midnight yesterday.
  • Sales per Year means the number of sales which closed this year*. This year means the period which starts with today’s date last year and ends at midnight yesterday.
  • Days on Market – Monthly Sales means the average cumulative days on market for sales which closed this month*.
  • Days on Market – Active Listings is the average cumulative days on market for all active listings.
  • Days Inventory indicates how many days it would take to sell all the active listings, assuming no new listings became active.
  • Months Supply indicates how many months it would take to sell all the active listings if they were to sell at the rate implied by Sales per Month.
  • Active Listings $/SF is the average list price per square foot for all active listings. It is the true average list price of all the square feet of living space represented by the active listings.
  • Pending Listings $/SF is the average list price per square foot for pending listings. It is the true average list price of all the square feet of living space represented by the pending listings.
  • Monthly Sales $/SF means the average sale price per square foot for homes sold this month*. It is the true average sale price of all the square feet of living space represented by the homes included in monthly sales.
  • Annual Sales $/SF means the average sale price per square foot for homes sold this year. It is the true average sale price of all the square feet of living space represented by the homes included in annual sales.
  • Appreciation – Monthly $/SF compares the Monthly Sales $/SF for today with that for the same date last year.
  • Appreciation – Annual $/SF compares the Annual Sales $/SF for today with that for the same date last year.
  • Appreciation – Monthly Median $ compares the Median Price – Monthly Sales for today with that for the same date last year.
  • Appreciation – Annual Median $ compares the Median Price – Annual Sales for today with that for the same date last year.
  • Appreciation – Long Term compares the Annual Sales $/SF for today with that for January 1, 2001 and determines the annual appreciation rate between the two.
  • Average Sale Price % List compares the average sale price and average final list price for homes sold this month. It shows how close the final sales price was to the list price that was in effect at the time the listing closed.
  • Annual Growth in Sales per Month means the percentage difference between Sales Per Month today versus the same date last year.
  • Annual Growth in Pending Listings means the percentage difference between Pending Listings today versus the same date last year.
  • Listing Success Rate is the percentage of listings that closed with a sale rather than expiring or being canceled. It compares the number of listings sold this month with the number of listings that were sold, expired or canceled in the same period.

All of the information contained in this market report comes from either the Arizona Regional Multiple Listing Service and/or the Cromford Report and is deemed reliable but is not guaranteed.