Phoenix and it’s neighboring cities in Arizona, have seen an improvement in the housing market, since the beginning of 2010. Over a 30-day period, there were 7,093 houses sold, and the number of houses on the market is up 1% since the last time they were reported. 27,594 properties are for sale as of the March 15 report.

It appears that sales are well ahead and the market continues to improve over 2009. Greatly boosting the total closings in the coming few months, pending home sales are up by greater than 40% from the beginning of this year. There were 27,594 single family detached homes on the market, as of March 15th. With 7093 homes closing in the last 30 days, the current market supply is 4 months.

In Phoenix, there are a total of 5,681 active listings and inventories are up 1% since last report. A 3 1/2 month supply, 1,629 homes have closed in just the preceding month. But Phoenix is not the greatest recovering market here, the West Valley Area is just ahead of Phoenix. West Valley, comprised of Surprise, Peoria, Sun City, Glendale, El Mirage, Youngtown, Litchfield Park, Avondale, Goodyear, Buckeye and Tolleson, had 6,489 active listings at the time of this report and 2118 closings, about a 3 month supply.

In third place, with 6,289 listings currently available, and 1676 homes closed for the same period of time, the Southeast Valley of Tempe, Gilbert, Chandler, Mesa, and Apache Junction are averaging a 3 3/4 month supply. Since the previous report, the cities of the Northeast Valley, including Fountain Hills, Carefree, Scottsdale, Cave Creek, and Paradise, saw no change as they are still seeing a 7 1/2 month inventory, with 560 closings, and 4,212 currently available properties.

In Scottsdale, there were 354 closings in the under $1m market and 1981 active listings, and 53 closings in the over $1m market, where there were 965 active listings. In the more than $1m arena, inventory has decreased by 4%, and in the less than $1m arena, it has gone up by 2%.

Hopefully the housing market for Phoenix and the encompassing regions keeps improving, and the overall trend remains intact. For anyone looking to sell their house in the area, as well as for home purchasers and the communities we all love too, this is terrific news!

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