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Weekly Inventory Level Comparison

As of Friday, April 25th, 2008

The market continues to improve. Overall supply has moved to 11 1/4 months, and closes and pendings continue their upward trend.

Closes in the previous month continue to improve and were up to 4049, improving the supply Valley wide to 11 1/4 months. Total available listings is at 45496. Pending sales continue their upward trend, increasing 3% in the last week. The pending sales right now are the highest I have seen in 2 years. If these close, we will see some surprising numbers at the end of May.

All areas of the Valley continue their improvement. In the battle for the best markets in the Valley, the SE Valley stays the clear leader, at an 8 3/4 month supply. The West Valley, at 11 months supply is in 2nd.

The comparison of current active listing change is based on the previous week’s inventory. Supply numbers are based on the number of closings in the previous month, divided in to the total number of active listings. This data is for Single Family Detached homes only and does not include patio homes, condos, or town homes.

Entire MLS (Maricopa and Northern Pinal county), listing inventories are unchanged from last week. Total of 45496 active listings. Based on current rate of closings, about an 11 1/4 month supply.

200’s area (Central Phoenix). Listing inventories are unchanged from last week. Total of 6762 active listings. About a 13 1/4 month supply.

300’s area (West Valley). Listing inventories are unchanged from last week. Total of 14678 active listings. About an 11 month supply.

400’s area (NE Valley), Listing inventories are unchanged from last week. Total of 7865 active listings. About a 15 3/4 month supply.

500’s area (SE Valley), Listing inventories are unchanged from last week. Total of 11168 active listings. About an 8 3/4 month supply.

Scottsdale over $1m. Listings inventories are unchanged from last week.

Total of 1673 active listings. About a 31 month supply.

Scottsdale under $1m. Listing inventories are unchanged from last week. Total of 2629 active listings. About a 12 month supply.

Paradise Valley. Listing inventories are unchanged from last week. Total of 476 active listings. About a 31 3/4 month supply.

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