Above are graphs of local real estate statistics for the Phoenix area. Some of the East Valley cities seem to be doing better than the greater market area. Both Chandler and Gilbert saw significant reductions in the number of listings available for sale. Chandler went from 2714 in December of 07 to 2140 in December of 08. Gilbert went from 2712 in December of 2007 to 2260 in December of 08. Queen Creek has gone from about 16 months of inventory in January of 2008 to approximately 6 months of inventory in December of 2008. This was partially due to the large number of homes sold in Queen Creek in December 2008 – 346 versus 159 sold in the 12/07.
This data is supplied by the Arizona Regional Multiple Listing Service. ARMLS, West USA, and Pat & Amy Monahan do not guarantee the accuracy of the data.