AZ Mid Month Pricing Update and Forecast

Each month about this time we look back at the previous month, analyze how pricing has behaved and report on how well our forecasting techniques performed. We also give a forecast for how pricing will move over the next month. For the monthly period ending October 15, we are currently recording a sales $/SF of $162.00 averaged for all areas and types across the ARMLS database. This is up 0.2% or 37 cents from the $161.63 we now measure for September 15. Our forecast range midpoint was $162.13, with a 90% confidence range of $158.89 to $165.37. The actual result was just a little lower than the mid-point, but only by 13 cents or 0.08%. On October 15 the pending listings for all areas & types

Market Summary for the Beginning of October

Starting with the basic ARMLS numbers for October 1, 2018 and comparing them with October 1, 2017 for all areas & types: Active Listings (excluding UCB): 16,819 versus 18,161 last year - down 7.4% - but up 3.7% from 16,222 last month Active Listings (including UCB): 20,303 versus 21,783 last year - down 6.8% - but up 2.4% compared with 19,831 last month Pending Listings: 5,195 versus 5,766 last year - down 9.9% - and down 1.3% from 5,262 last month Under Contract Listings (including Pending, CCBS & UCB): 8,679 versus 9,388 last year - down 7.6% - and down 2.2% from 8,255 last month Monthly Sales: 7,048 versus 7,509 last year - down 6.1% - and down 14.6% from 8,548 last month Monthly Average

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TO CONTACT OUR TEAM PLEASE CALL OR EMAIL US:

CRESTMARK REALTY GROUP

RAEGEN JOHNSON

Realtor

C:  602.330.5362

O:  602.362.5484

E: Raegen@RaegenJohnsonGroup.com

SARAH HERR

Realtor

C: 602.499.3175

O: 602.362.5484

E:Sarah@RaegenJohnsonGroup.com

JULI FEINBERG

Broker

O: 480-342-8889

E: Julif@jclam.com

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