Real estate sales in Phoenix and the 55+ Active Adult Community sales see-saw into
a seller’s market at last.
A lot is being said by the Realtors and is about to be said by the media regarding the surge in home sales and lack of inventory in Phoenix, creating a seller’s market and an increase in home prices.
The 55+ Active Adult market is not far behind. Because of the more conservative nature of the buyers the availability of distressed properties is lower. The recent numbers are showing that today’s 55+ market has 2 ½ months supply of homes vs. just less than 2 months for the all over valley market.
Total Active listings of 55+ Active Adult homes on the market = 2,648
Total Listings closed in March of Active Adult homes = 1,056
Leaving a 2 ½ month supply of homes for sale.
Right now on the 10th of April there are 917 homes in the Active Adult Communities scheduled to close in April, so we may presume we will close again in the 1,000+ range.
The distressed property numbers show 75 active listings that are bank owned and 71 that are short sales. That is 5.4% of the total number of active listings, as compared to Phoenix home listings which show distressed properties as 17% of the total active listings. This is in alignment with the more conservative investing nature of the 55+ buyers.
