{"id":512,"date":"2006-10-05T12:13:06","date_gmt":"2006-10-05T19:13:06","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=512"},"modified":"2006-10-05T12:15:32","modified_gmt":"2006-10-05T19:15:32","slug":"august-2006-bloodhoundrealtycom-market-basket-of-homes-values-down-015-on-normal-sales","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/512\/august-2006-bloodhoundrealtycom-market-basket-of-homes-values-down-015-on-normal-sales\/","title":{"rendered":"September 2006 BloodhoundRealty.com Market-Basket of Homes: Values down 0.15% on normal sales . . ."},"content":{"rendered":"

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<\/a>.<\/p>\n

Average prices for Market Basket homes in September were down 0.15%, compared to August, a difference of $372. Year-over-year, prices are down 3.15%, and down 6.05% from the December 2005 high.<\/p>\n

A total of 183 sales were recorded, down from August’s total of 199. Market-Basket homes spent an average of 100 days on market, 22 days more than in August. For comparison purposes, 192 Market Basket homes sold in September of 2003, the last relatively normal year, in an average of 58 days.<\/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 — most notably builder’s spec homes deeply discounted to close before the end of the third fiscal quarter. Average discounting netted out to 2.03%, up from 1.43% in August.<\/p>\n

Inventories of available Market Basket homes continue their decline. There are now 1,337 homes available for sale in the Market-Basket, where there were 1,406 in August and 1,506 in July. With sales of 183 homes, the implied absorption rate is 7.31 months, up from slightly over 7 months in August, but down significantly from almost 10 months in July. A six-month absorption rate is considered normal. The number of homes listed as “Sale Pending” is 165, down from 179 in August.<\/p>\n

Based on the idea of the Consumer Price Index market-basket of goods and services, the Market-Basket of Homes uses average sales prices for a small subset of all Valley home sales to get a clearer idea of what is happening in the middle of the bell curve. The alternative method, striking a median among all closed transactions, introduces too many extraneous factors to provide a reliable indicator of what is happening to prices for those homes that are most avidly desired by the greatest number of people. To that end, the Market-Basket of Homes looks at sales prices for MLS-listed Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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 August, a difference of $372. […]<\/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-512","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":601,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/601\/october-2006-bloodhoundrealtycom-market-basket-of-homes-values-down-407-on-normal-sales\/","url_meta":{"origin":512,"position":0},"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":302,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/302\/august-2006-market-basket-of-homes-values-up-25-on-stronger-sales\/","url_meta":{"origin":512,"position":1},"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":71,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/71\/market-basket-of-homes-values-up-033-in-june\/","url_meta":{"origin":512,"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":175,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/175\/market-basket-of-homes-values-down-183-on-slow-sales\/","url_meta":{"origin":512,"position":3},"title":"Market-Basket of Homes: Values down 1.83% on slow sales","author":"Greg Swann","date":"August 5, 2006","format":false,"excerpt":"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\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":364,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/364\/greater-phoenix-chamber-of-commerce-residential-real-estate-rebounding-commercial-real-estate-strong-population-growth-unabated\/","url_meta":{"origin":512,"position":4},"title":"Greater Phoenix Chamber of Commerce: Residential real estate rebounding, commercial real estate strong, population growth unabated","author":"Greg Swann","date":"September 22, 2006","format":false,"excerpt":"Two articles in today's Arizona Republic on the state of the local economy as detailed by the Greater Phoenix Chamber of Commerce, both largely good news. Catherine Reagor continues her slow apprehension of the idea that this year is not last year. And R.L. Brown advises us all to adapt\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":512,"position":5},"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":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/512","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=512"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/512\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=512"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=512"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=512"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}