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News You can use ARMLS 2012 Pricing furgures are in 20.71% gain

From: Barbara J.
Sent on: Monday, January 28, 2013 8:48 AM

 Greetings everyone, below is the ARMLS pricing metrics for 2012, as you see the trend is up, it is time to think about the new cycle we are entering and the adjustments you need to make in your real estate business. Be sure to join me  this Saturday,  Feb 2, 10 am meeting at DHI title  7740 n 16th st Phx suite 250.

 

PRICING

If you would like to start taking profits on your properties, and think you may want to list with me send the address to [address removed] for a comp at current market.

 

Best Regards,

Barbara Quintana

Geneva Real Estate & Investments

[masked]

 

 

  

ARMLS STAT

 All four pricing metrics, i.e., new listing, sales and median and average prices, made steady gains throughout 2012. Median list price moved from $140,000 in January to $169,000 by December, representing a 20.71% gain. The average list price increased from January’s $243,200 to December’s $251,400, or 3.37%.

Median sales price started 2012 at $120,000 and climbed 27.5% by December to $153,000. Average sales price also performed well rising from January’s $169,500 to $211,300, or 24.66%, by year end.

Comparison of 2012 pricing metrics to the Great Recession’s pricing lows places the 2012 gain in a larger per-spective. In January 2011, median list price hit the bottom at $117,000, and by December 2012 had risen 36.75% to $169,000. Average list price’s recovery followed a similar path, starting from a low of $188,698 in July 2011 and rising 33.23% by December 2012 to $251,400.

Median sale price bottomed out in July 2011 at $109,000 and by year end 2012 had risen 38.87% to $153,000. Average sale price hit its recession low in August 2011 at $151,368, but by December 2012 had risen to $211,300, or 39.59%.

Slow and steady upward growth characterized pricing in 2012, and provides an optimistic outlook of pricing’s future. However, these admiral gains should also be viewed in the perspective of how far all four metrics had fallen from their decade highs, and how far the Valley pricing still has to go. Decade high pricing for median list ($303,900), average list ($421,951), median sales ($264,800) and average sales ($350,400) fell 61.17%, 55.28%, 58.84% and 56.6% respectively.

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