Senior Housing and Assisted Living

For the housing market in both Phoenix and the encompassing areas of Arizona, 2010 has proven to be a stronger year, thus far. As of the most recent market break down report, inventories have increased by 1%, and 7093 properties went to closing in just one month. As of March 15th, there were 27,594 active listings.

So far in 2010, home sales are showing gains over last year, and the housing market is steadily making progress. It is expected that there will be a substantial growth in the number of closings in the next few months, thanks to the 40% surge in pending home sales that we are seeing since the beginning of 2010. As of March 15th, there were 27,594 single family dwelling detached homes for sale. The present market has 4 months supply, after 7,093 houses closed in just the preceding 30 days.

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. With 4,212 active listing along with 560 homes closed, representing around a 7 1/2 month supply, the Northeast Valley, including towns and cities Scottsdale, Carefree, Cave Creek, Fountain Hills, and Paradise Valley, were unchanged.

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%.

This is a desirable trend, and there are signs that the housing market in and around Phoenix will keep getting better. Home sellers, home buyers, and our neighborhoods on the whole, are enjoying a boost from this trend!

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