Phoenix Real Estate Market Report for January 2008
Well, we've now come to end of the first month in the new year, so let's see how the numbers came out. (Note: This data has been pulled from the Arizona Regional Multiple Listing Service and is deemed reliable, but not guaranteed. These numbers encompass the entire ARMLS listing area).
Here's how it looked for January 2008:
Number of New Listings: 16,646 (Up 7,309 from December)
Number Sold: 2,902 (Down 510 from December)
Average Days on Market: 130 (Down 11 Days from December)
Average Listing Price: $330,481 (Down $5,766 from December)
Average Selling Price: $317,334 (Down $1,729 from December)
% Difference Between List Price & Selling Price: 94% (Down 1.13% from December)
Well, obviously with a new year there comes much more activity, as can be seen in the number of new listings. Listings continue to out pace solds by over 3:1. The average list price has come down by nearly another $5,800 and the average sale price difference from December is also down another $1,700. Days on market compared to December is just over 1 week less.
So here's how the year is starting off, but it will definitely begin to turn for the better, as new buyers come back into the market starting in the spring. 
As always, thanks for "hanging out" with us.