Thinking of Selling...Checkout Phoenix Valley Home Inventory Levels

One indicator to look at when evaluating the real estate market is-days of inventory.* Below looks at active inventory of all property types as of August 21, 2017. Cities around the valley are ranked by current days of inventory, where the lower the number the better the market is for sellers. In parentheses is the long term average for comparison:

1. Youngtown 27.4 (41.6)

2. Sun City West 28.8 (94.3)

3. Sun City 30.3 (88.2)

4. Tolleson 32.2 (54.3)

5. El Mirage 33.2 (38.2)parentheses

6. Sun Lakes 33.8 (110.6)

7. Mesa 45.1 (long term average 71.8)

8. Avondale 45.2 (48.2)

9. Chandler 46.1 (64,2)

10. Gilbert 46.6 (63.2)

11. Glendale 48.0 (56.5)

12. Coolidge 51.5 (107.8)

13. Arizona City 52.1 (111.0)

14. San Tan Valley (Queen Creek in Pinal County) 52.6 (70.8)

15. Laveen 53.5 (62.0)

16. Tempe 55.2 (66.6)

17. Surprise 56.2 (79.5)

18. Anthem 57.0 (84.7)

19. Peoria 60.1 (74.1)

20. Casa Grande 63.6 (110.7)

21. Maricopa 64.7 (84.4)

22. Phoenix 65.1 (71.1)

23. Florence 69.2 (151.6)

24. Apache Junction 70.0 (112.6)

25. Waddell 70.8 (97.4)

26. Queen Creek (Maricopa County) 72.4 (88.1)

27. Litchfield Park 73.3 (84.4)

28. Goodyear 76.0 (85.4)

29. Buckeye 80.5 (84.6)

30. Eloy 98.7 (180.2)

31. Gold Canyon 100.8 (186.3)

32. Scottsdale 103.1 (136.0)

33. Cave Creek 114.5 (134.8)

34. Tonopah 116.8 (132.2)

35. Fountain Hills 119.5 (166.8)

36. New River 131.2 (128.9)

37. Wittmann 148.4 (132.3)

38. Rio Verde 179.5 (414.1)

39. Carefree 214.1 (343.3)

40. Paradise Valley 238.3 (288.0)

41. Wickenburg 243.3 (362.5)

Areas that cater primarily to older buyers dominate the top of the chart for several reasons:

• this is the time of year when listings are usually at their seasonal low point in these areas

• population growth in Arizona is heavily skewed in favor of those over 50 and against those under 20

• there is little to no new housing supply being built in these areas

Almost all areas are well below their long term average days of inventory. The West Side of Phoenix with the lowest inventory. When breaking down some of these area further by zip code, locations with the highest inventory relative to demand are downtown, uptown, West Ahwatukee, Arcadia & the Biltmore District.

*Days Inventory indicates how many days it would take to sell all the Active Listings if they were to sell at the rate implied by Annual Sales and assuming no new listings became active. It equals Days in Last Year x Active Listings / Annual Sales.