Numbers pulled from ARMLS (Arizona Regional Multiple Listing Service) this morning:

• Active Listings (available for sale): 17,721 (1.83 months of inventory)
• In Escrow for closing of sale: 12,754
• Sold/closed in the last month: 6,959

Among the homes available, 40% are  are under the $250, 000 price point.  Three months ago, homes priced at $250k or less comprised more than half total listings:

• Active Listings priced $250,000 and less: 10,424 (up from 9229 in early October)
• Active Listings between $251,000 and $500,000: 4373  (up slightly from 4206 in October)
• Active Listings $501,000 to $1,000,000: 1796  (Down 35% from 2759 in October)
• Active listings $1,001,000 plus: 1127 (Up about 8% from October’s  1038)

Where are the sales happening? Higher end buyers ($500k+ and $1m+) came out in higher numbers during the last quarter of 2012, but the bulk of purchases continue to be first time, 2nd home, and investors purchasing in the sub-$250k ranges.   Below are the number of sales/closings occuring during the past 30 days within the price ranges, and it becomes apparent that about 75% of buyers are looking for homes under the $250,000 price tag:

• Closed sale up to $250,000: 5235
• Closed sale between $251,000 and $500,000: 1307
• Closed sale between $501,000 and $1,000,000: 319
• Closed sale $1,001,000 plus: 98

With 75% of home purchases occuring at $250k price point and lower, but only 40% of total available homes for sale priced up to $250,000, the  competition in the lower pricing segments continues, along with a comparative scarcity of buyers for some properties in the higher pricing segments.