What a difference the last half year has made.  The graph above shows what has happened to the median price of single family detached homes sold in the Phoenix area over the past two years.   The median price has gone from a low of $115,500 in July of 2011 to a high of $147,000 in April, 2012.  The graph below shows a major contributing factor to these sale price increases.  The inventory of homes available for sale in the Phoenix area has been dramatically reduced over the past year.  From a high of 36,722 single family homes for sale in October 2010 to the current low of 9,092 single family homes for sale in April 2012.  The quantity of foreclosure and short sale homes for sale has dropped by about 75%.  Traditional sellers have been waiting for prices to start coming up before putting their homes on the market.  Prices have been increasing steadily and this should slowly cause more traditional sellers to put their homes up for sale.

If you would like a free summary report of data for your city or zip code in the Phoenix area, just send an email request to amy@realtysecrets.net.

If you aren’t going to be in Phoenix on May 11, check to see if the coupon will be good for a public garden in your area.

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• The number of homes sold for each of the last three months has been over 9,000.  May saw 9,809 homes sold, an 8.1% increase over May of last year.  This was also the second highest monthly sales figure since August of 2005.
• Total inventory of homes has dropped significantly in recent months.  May inventory was at 31,661 homes, the lowest number in the past 24 months and 23.4% lower than May 2011.    For comparison, inventory in November 2010 was 45,353.
• Average and median sales prices have been relatively flat over the past six months.
• A large portion of sales activity has been for properties priced under $100,000.   46% of pending contracts in May were for properties priced under $100,000.    Another 22.4% were for properties priced between $100,000 and $150,000.
• Foreclosure and short sale properties continue to make up a large portion of sales and of properties still available for sale.

All of this data signals that the Phoenix market area is changing.    We believe there will continue to be significant monthly decreases in the number of properties available for sale for less than $100,000.  We think the lower inventory has already started to put some upward pressure on prices although it may take a while for this to show up statistically.  If more listings start being added to the market in response to the demand then prices are likely to stay fairly flat.  However, we think the lower inventory has already started to put some upward pressure on prices and if inventory continues to shrink we will start to see gradual increases in average prices.

Consider visiting downtown Glendale with its Glendale Glitters programs on Friday and Saturday evenings (6pm to 10pm), Dec. 3-18.   It will be aglow with 1.5 million sparkling holiday lights, and Murphy Park will be filled with entertainment, arts and crafts, delicious food and horse-drawn carriage rides. Each weekend has a special theme with all kinds of fun for all ages.

Another place to see lights is Zoolights at the Phoenix Zoo.  This runs nightly through January 9, 2011 from 6:00pm to 10:00pm.  Tickets cost $10.00 per person for Sunday through Thursday nights and $12.00 on Friday and Saturday.  There is a discount for Zoo members.  Kids age 2 and younger are free.  Fry’s has discounted tickets for sale.

One of our favorites is Las Noches de las Luminarias at the Desert Botanical Garden.  Stroll through the garden which is lit by lights and luminarias.  Stop at the many different spots to listen to musical performances.  There is place to get refreshments.  I do recommend that you purchase tickets in advance as some nights sell out.  You can purchase tickets on-line.  This event is mostly attended by adults.  However, if you have a child or teenager who enjoys sitting quietly and listening to music, they will enjoy it too.

Downtown Tempe is hosting the Fantasy of Lights in the Mill Avenue district.   From November 27 to December 10, you can enter their Window Wonderland contest for a chance to win a $250 shopping spree.

The Church of Jesus Christ of Latter-day Saints has a beautiful lights display at the Arizona Temple in Mesa.  This runs from 5:30pm to 10:00 pm daily and is free.   There is usually a half-hour outdoor concert at 7:00 pm.  The Temple is located at 525 E Main St in Mesa.

Chandler, AZ – The Official City of Chandler, AZ Government Twitter

Mesa, AZ – Official Web site of the City of Mesa, Arizona municipality

Tempe, AZ – Tempe Gov

Phoenix Public Transit – Phoenix Metro Bus

Phoenix Sky Harbor Airport

Gammage Auditorium , ASU Tempe Campus - hosts a Broadway series as well as numerous other performances

Hale Theater , Gilbert - hosts children’s theater as well as family and adult plays.

Broadway Palm Dinner Theater , Mesa – where you can eat dinner and see a show

Tempe Center for the Arts, Tempe – hosts a variety of programs including the well know Childsplay productions, dance productions, and a variety of other plays and programs

Mesa Center for the Arts, Mesa – see Southwest Shakespeare Company, East Valley Children’s Theater, Ballet Etudes, Symphony of the Southwest, and more

Chandler Center for the Arts, Chandler – hosts a free summer concert series and a variety of performances throughout the year

Scottsdale Center for the Arts, Scottsdale – see the popular “Late Night Catechism” or any of the other great program

Phoenix Theater, Phoenix – hosts a season of popular plays

Great Arizona Puppet Theater, Phoenix – presents great puppet shows geared mainly towards elementary age children.  They also offer a Puppet Slam program for adults.

Actors Theater, Phoenix – present a variety of plays mostly geared towards adult audiences

CNN/Money Rankings of Best Places to Live in 2008:

Gilbert, AZ - 28
Chandler, AZ – 30
Scottsdale, AZ – 47

Sustainability Rankings 2008:

Mesa, AZ – 50

Best Sports Cities Ranking - Sporting News 2008:

Phoenix/Tempe – 6