Short Sales & Foreclosure Dominate AZ Sales

Here is a snapshot of sales from 2009 in Maricopa County, separating short sales, foreclosures and “regular” sales.  Sales have increased by approximately 30% from 2008 to 2009.  In 2010, short sales and foreclosures will continue to dominate the number of sales.  In looking at the graph below, short sales picked up dramatically and were almost 1/4 of our sales in December.  I expect the number of short sales to rise even more this year and make up perhaps half of all sales!  Pricing has been flat the last several months but if the foreclosures and short sales continue to dominate the market, some areas have not seen the worst of it (whereas areas like Old Town Scottsale may continue to remain flat).  I like to be positive and think 2008 was the worst of it!! :)

  Total Sales  $1-$399,999 $400,000+ REO Sales Short Sales
Jan 4,285 3,989 296 2,881 (67%) 396 (9.2%)
Feb 4,869 4,525 344 3,278 (67%) 444 (9.1%)
March 6,881 6,504 377 4,709 (68%) 690 (10%)
April  7,655 7,222 433 5,108 (66.7%) 774 (10.1%)
May 8,338 7,852 486 5,349 (64%) 947 (11.45%)
June  8,254 7,706 548 4,804 (58.2%) 1,118 (13.5%)
July 7,989 7,440 548 4,246 (53.1%) 1,344 (16.8%)
Aug 7,076 6,609 467 3,641 (51%) 1,353 (19%)
Sept 6,948 6,464 484 3,331 (48%) 1,363 (19.6%)
Oct 7,024 6,559 465 3,116 (44%) 1,379 (19.6%)
Nov  6,506 6,078 428 2,637 (41%) 1,325 (20%)
Dec 6,551 6,071 480 2,803 (43%) 1,517 (23%)

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