{"id":175,"date":"2006-08-05T08:19:50","date_gmt":"2006-08-05T15:19:50","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=175"},"modified":"2006-08-06T09:10:31","modified_gmt":"2006-08-06T16:10:31","slug":"market-basket-of-homes-values-down-183-on-slow-sales","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/175\/market-basket-of-homes-values-down-183-on-slow-sales\/","title":{"rendered":"Market-Basket of Homes: Values down 1.83% on slow sales"},"content":{"rendered":"

Market-Basket of Homes: Values down 1.83% on slow sales<\/p>\n

The July BloodhoundRealty.com Market-Basket of Homes<\/a> is available. Prices down, sales volumes down, but — interestingly — inventory is down. Make of it what you will:<\/p>\n

This fall in Valley schools, the faces of the teachers may change, but the kids may be the same. The annual selling season, when parents move in time for children to start the school-year in their new neighborhood, for the most part has not materialized. Home prices for July were down 1.83%, compared to June, in the BloodhoundRealty.com Market-Basket of Homes. More significantly, only 151 home sales were recorded, a fairly low number for this time of year. Average sales prices were down $4,715, from 257,999 in June to $253,284 in July. Values are down $16,591, or 6.15%, from the December 2005 high of $269,875. Market-Basket homes spent an average of 74 days on market, five days more than in June.<\/p>\n

As has been the case in recent months, most Market-Basket homes are selling at or above list price. A few deeply-discounted properties pulled down the average, and average discounting netted out to 1.61%, down from 1.75% in June.<\/p>\n

A total of 151 Market-Basket homes were sold in July, down from 176 in June. However, inventories of available homes have declined. There are now 1,506 homes available for sale in the Market-Basket, where there were 1,525 in June. With sales of only 151 homes, the implied absorption rate is almost 10 months, but, interestingly, there are 179 Market-Basket homes currently listed as “Sale Pending.” A six-month absorption rate is considered normal.<\/p><\/blockquote>\n

In the Arizona Regional Multiple Listings Service at large, 6,101 homes have sold against an inventory of 46,269, an implied absorption rate of 7.6 months. There are 6,262 properties listed as “Sale Pending.”<\/p>\n

The historical numbers make it plain that we did not experience the traditional selling season, but they also make it plain that a simplistic year-over-year analysis — which we can expect from the Arizona Republic<\/i> a week or more from now — is misleading.<\/p>\n

Number of Homes Sold (with Days on Market)<\/b><\/p>\n

March 2003 6471 Read more<\/a><\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"

Market-Basket of Homes: Values down 1.83% on slow sales The July BloodhoundRealty.com Market-Basket of Homes is available. Prices down, sales volumes down, but — interestingly — inventory is down. Make of it what you will: This fall in Valley schools, the faces of the teachers may change, but the kids may be the same. The […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[6,5],"tags":[],"class_list":{"0":"post-175","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-marketing","7":"category-real-estate","9":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":302,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/302\/august-2006-market-basket-of-homes-values-up-25-on-stronger-sales\/","url_meta":{"origin":175,"position":0},"title":"August 2006 Market-Basket of Homes: Values up .25% on stronger sales . . .","author":"Greg Swann","date":"September 8, 2006","format":false,"excerpt":"Is the Metropolitan Phoenix real estate market starting to recover? Too soon to say, but prices edged up slightly on sales that were stronger -- even if they are still slow -- in the August edition of the BloodhoundRealty.com Market-Basket of Homes. Average prices for Market Basket homes in August\u2026","rel":"","context":"In "Investment"","block_context":{"text":"Investment","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/investment\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":512,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/512\/august-2006-bloodhoundrealtycom-market-basket-of-homes-values-down-015-on-normal-sales\/","url_meta":{"origin":175,"position":1},"title":"September 2006 BloodhoundRealty.com Market-Basket of Homes: Values down 0.15% on normal sales . . .","author":"Greg Swann","date":"October 5, 2006","format":false,"excerpt":"The Phoenix-area's real estate market seems to be continuing its slow trek back to normalcy. Home prices were essentially unchanged on a fairly strong volume of sales in the September edition of the BloodhoundRealty.com Market-Basket of Homes. Average prices for Market Basket homes in September were down 0.15%, compared to\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":71,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/71\/market-basket-of-homes-values-up-033-in-june\/","url_meta":{"origin":175,"position":2},"title":"Market-Basket of Homes: Values up 0.33% in June","author":"Greg Swann","date":"July 6, 2006","format":false,"excerpt":"Is there light at the end of the tunnel? Home values were up slightly, by 0.33%, in the June 2006 BloodhoundRealty.com Market-Basket of Homes. Average sales prices were up $851, from 257,148 in May to 257,999 in June. Nevertheless, values are down $11,876 from the December 2005 high of $269,875.\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":601,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/601\/october-2006-bloodhoundrealtycom-market-basket-of-homes-values-down-407-on-normal-sales\/","url_meta":{"origin":175,"position":3},"title":"October 2006 BloodhoundRealty.com Market Basket of Homes: Values down 4.07% on normal sales . . .","author":"Greg Swann","date":"November 4, 2006","format":false,"excerpt":"The Phoenix-area real estate market's three-month experiment with stasis came to an abrupt end in October: Although sales levels were normal, as compared with October 2003, the most-recent October before the real estate boom, both asking and selling prices dropped precipitously among the homes tracked in the October 2006 edition\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":63,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/63\/market-basket-of-homes-values-up-197-in-march\/","url_meta":{"origin":175,"position":4},"title":"Market-Basket of Homes: Values up 1.97% in March","author":"Odysseus","date":"April 5, 2006","format":false,"excerpt":"Home values were up a substantial 1.97% in the March 2006 BloodhoundRealty.com Market-Basket of Homes. Average sales prices were up more than $5,000, from $260,645 in February to $265,778 in March. Values are still down slightly more than $4,000 from the December 2004 high of $269,875. Market-Basket homes spent an\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/general\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":58,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/58\/down-but-not-for-the-count\/","url_meta":{"origin":175,"position":5},"title":"Down but not for the count…","author":"Odysseus","date":"March 3, 2006","format":false,"excerpt":"From The BloodhoundRealty.com Market-Basket of Homes for February: \"Home values are down for the second month in a row in the February 2006 BloodhoundRealty.com Market-Basket of Homes. Average sales prices dropped by 1.14%, just under $3,000, from $263,638 to $260,645. The weakness was felt mostly at the higher end of\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/general\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/175","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=175"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/175\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=175"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=175"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=175"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}