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Mission De Los Arroyos Report Archives - April 2007

Current Market Conditions

Here's how sales of condos so far this year compare to last. The following data from the Arizona Regional MLS are only for condos in the $200,000 to $300,000 range.

 

Jan 2006

Jan 2007

% Change

Feb 2006

Feb 2007

% Change

Homes Sold

111

78

-29.7%

150

100

-33.3%

Homes Listed

556

897

61.3%

637

883

38.6%

Percent Sold

19.9%

8.7%

-56.3%

8.7%

11.3%

29.9%

Avg. Days on Market

40

87

117.5%

39

76

94.9%

The Bottom Line: There are a lot more people trying to sell their condo to fewer buyers and it's taking them a longer time to do so. Of the 883 condos on the market in February, 100 of them sold. That means 783 or 88.7% of them didn't. So what do you have to do to sell a condo in this market? Price it right and do some smart things to sell it. If you'd like me to mail or email you a list of tips, please call me at 480-614-3781.