1 in 4 Home sales for May is a Foreclosure

1 in 4 Home sales for May is a Foreclosure

Real Estate Sales and prices for the moth of May 08

Some good news on the sale of homes for the Phoenix real estate market

ASU Realty studies is reporting an increase in resale homes.

This has been the best month for resales since June of 07. Damn, the trend is your friend, however we have more foreclosures in the month of May. Does that really mean resales are up when the soup de jour, is ah la Lender owned?

There are question per the accuracy of ASU reporting of what a transaction is and is not says all Phoenix Rea estate Jonathan Dalton.

The Good news is, that the inventory is moving. Homes are selling. In my opinion I think the number of Bank Owned properties is greater than the 25% being reported. 35%?

Thanks, ASU for the following tables.

May 2007 -- SINGLE-FAMILY RESALE HOMES
Selected Cities	Total	Median Price	Traditional Sales	Median Price	Foreclosed Sales	Median Price
Phoenix	1,405	$229,000	1,320	$230,000	85	$197,475
Scottsdale	420	617,000	410	620,000	10	541,335
Chandler	360	297,750	345	297,500	15	314,595
Gilbert	300	300,000	290	305,000	10	256,500
Mesa	610	238,000	585	240,000	25	199,830
Tempe	155	270,780	155	272,500
Avondale	120	223,000	95	225,000	25	215,280
El Mirage	55	200,000	45	200,000	10	190,460
Glendale	355	243,000	335	245,000	20	204,605
Goodyear	90	250,000	80	250,000	10	181,950
Peoria	245	255,000	220	250,000	25	311,710
Sun City	120	199,000	120	199,000
Sun City West	70	258,725	70	258,725
Surprise	240	245,070	215	245,070	25	245,790
County	5,220	$262,000	4,915	$265,000	305	$217,225

May 2008 -- SINGLE-FAMILY RESALE HOMES
Selected Cities	Total	Median Price	Traditional Sales	Median Price	Foreclosed Sales	Median Price
Phoenix	1,420	$180,000	940	$195,750	480	$152,605
Scottsdale	415	470,000	360	475,000	55	414,600
Chandler	365	250,000	315	255,000	50	202,465
Gilbert	375	240,000	300	241,000	75	235,550
Mesa	575	197,000	450	202,500	125	169,505
Tempe	145	258,000	130	262,000	10	186,840
Avondale	170	164,530	120	163,320	50	165,800
El Mirage	90	132,000	55	135,000	35	127,350
Glendale	375	190,000	270	200,000	105	170,000
Goodyear	160	200,000	115	212,000	45	186,450
Peoria	300	229,250	215	236,000	85	207,825
Sun City	110	175,000	105	175,000	5	231,410
Sun City West	60	190,850	60	189,000
Surprise	350	185,240	245	191,450	105	177,210
County	5,740	$211,305	4,265	$223,500	1,475	$179,465

May 2007 -- TOWNHOUSE-CONDOMINUM RESALE HOMES
Selected Cities	Total	Median Price	Traditional Sales	Median Price	Foreclosed Sales	Median Price
Phoenix	380	$165,745	370	$165,990	10	$99,000
Scottsdale	295	273,250	285	275,000	10	251,170
Chandler	40	175,000	40	175,000
Gilbert	15	215,000	15	215,000
Mesa	160	150,000	155	151,000	5	121,050
Tempe	90	189,400	90	189,400
Avondale
El Mirage
Glendale	50	147,000	50	147,000
Goodyear
Peoria	35	169,500	35	169,500
Sun City	55	130,250	55	130,250
Sun City West	25	152,500	25	152,500
Surprise	15	110,000	15	110,000
County	1,245	$184,990	1,220	$185,000	25	$132,785

May 2008 -- TOWNHOUSE-CONDOMINUM RESALE HOMES
Selected Cities	Total	Median Price	Traditional Sales	Median Price	Foreclosed Sales	Median Price
Phoenix	240	158,000	190	162,000	50	139,550
Scottsdale	200	240,000	175	247,500	25	178,545
Chandler	30	142,650	20	144,750	10	138,775
Gilbert	15	180,500	10	180,000	5	200,425
Mesa	100	139,000	80	147,000	20	116,000
Tempe	50	160,775	50	165,000
Avondale
El Mirage
Glendale	25	111,945	10	113,500	15	86,730
Goodyear
Peoria	15	110,000	15	131,000
Sun City	55	114,500	50	115,000
Sun City West	20	137,500	20	137,500
Surprise
County	810	$165,000	680	$169,900	130	$136,000