Mid Month Pricing Update Forecast

Mid Month Pricing Update Forecast

Mid Month Pricing Update and Forecast

Each month about this time we look back at the previous month, analyze how pricing has behaved and report on how well our forecasting techniques performed. We also give a forecast for how pricing will move over the next 30 days.

For the monthly period ending December 15, we are currently recording a sales $/SF of $138.06 averaged for all areas and types across the ARMLS database. This is 1.7% above the $135.76 we now measure for November 15. Our forecast range was $132.84 to $138.26 with a mid-point of $135.55. The actual result did lie within our forecast range, but very much towards the high end this time.

On December 15 the pending listings for all areas & types shows an average list $/SF of $141.12,1.9% above the reading for November 15. Among those pending listings we have 88.6% normal, 4.2% in REOs and 7.2% in short sales and pre-foreclosures. This has barely changed from this time last month

Our mid-point forecast for the average monthly sales $/SF on January 15 is $140.72,which is 1.9% higher than the December 15 reading. We have a 90% confidence that it will fall within ± 2% of this mid point, i.e. in the range $137.91 to $143.53.

The last two months have given us actual readings well above the midpoint for the forecast. Our forecast calls for another strong advance for the third month in a row. However we note that January tends to be a weak month for pricing while December often Surprises to the upside. It would not Surprise us if this year follows the usual pattern.

Edna Montijo - Owner Headshot
Phone: 480-999-1156
Dated: January 1st 2016
Views: 438
About Edna: ...

Property Search

RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

AZ Xceptional Realty
2450 S Gilbert Rd #206
Chandler, AZ