Monthly Market Watch for Maricopa County Anoverview of what is happening in the Maricopa County real estate market (using January 2009 statistics) Provided by Keller Williams Legacy One Realty – Statistics from January 2009 MLS

Report overview Report overview: This report includes MLS data for the past 36 months in Maricopa County only as provided by the FlexMLS system. Provided by Keller Williams Legacy One Realty – Statistics from January 2009 MLS

Closed Sales Report Analysis Sellers: Closed Sales Report Analysis: Sellers: Good news … Although the number of closed sales in January of 2009 was less than December of 2008, the number of homes that sold in Maricopa County in January 2009 was nearly 58% higher than in January of 2008 AND was nearly identical to the number of sales in January That means less inventory to compete with! Provided by Keller Williams Legacy One Realty – Statistics from January 2009 MLS

Pending Sales Report Analysis Sellers: Pending Sales Report Analysis: Sellers: January saw a 13% increase in the number of properties going under contract!!!! Compared to January of 2008, there was an increase of 61.8%! This was the best January we have seen in the 3 year reporting period AND the best month since July 2008! HOWEVER, sellers need to understand that the REOs/foreclosures continue to define the market AND what is selling! Provided by Keller Williams Legacy One Realty – Statistics from January 2009 MLS

Average Sales Price Analysis Sellers: Average Sales Price Analysis: Sellers: The average sales price in January was once again the lowest it has been in the past 36 months, dropping a little over 7% from December – this continues to indicate that buyers remain focused on purchasing homes that are affordable AND provide the greatest value to them. Provided by Keller Williams Legacy One Realty – Statistics from January 2009 MLS

Average Days on Market Analysis Sellers: Average Days on Market Analysis: Sellers: Days on market saw an average increase of 7 days in January; however, this remains lower than this time a year ago when we averaged 137 days. Sellers need to remain very aggressive in their pricing to avoid being on the market any longer than possible … the market shows the longer the home is on the market, the less $$ they will get. Provided by Keller Williams Legacy One Realty – Statistics from January 2009 MLS

List to Sales Price Analysis Sellers: List to Sales Price Analysis: Sellers: January saw nearly a 1% decrease in the average list to sales price ratio … that means that for every $100k, the seller is only getting $94,100 on average. Sellers should be prepared to consider EVERY offer they receive AND to understand that an acceptable offer will more than likely be at least 6% below where the home is listed. Provided by Keller Williams Legacy One Realty – Statistics from January 2009 MLS

Expired and Cancelled Listings Analysis Sellers: Expired and Cancelled Listings Analysis: Sellers: Sellers need to pay careful attention to this report – it indicates the number of sellers who have “given up” trying to sell their home. From a positive standpoint, this means less competition; however, it also means sellers must be more careful than ever in pricing and condition to make sure they don’t eventually end up on this list. Also, this could mean that the home is going to foreclosure, which could negatively impact the value of your home. This number increased by 25% in the month of January – this means more sellers have given up, but it may also mean more foreclosures coming on the market in the near future! Provided by Keller Williams Legacy One Realty – Statistics from January 2009 MLS

INVENTORY OVERVIEW Following is an overview of what is happening with the inventory of homes currently available in Maricopa County. Provided by Keller Williams Legacy One Realty – Statistics from January 2009 MLS

New Listings Analysis Sellers: New Listings Analysis: Sellers: This report is very important, as it shows the NEW competition that entered the market in the past month. Depending on their pricing and condition, these homes could make your home more appealing OR could be serious competition for serious buyers. Normally we see a dramatic INCREASE in new listings in January; however, this year that was different … 11,195 new homes came on the market as your competition! That means buyers still have MORE inventory from which to choose, but not as dramatic an increase in inventory as we normally see this time of year. Provided by Keller Williams Legacy One Realty – Statistics from January 2009 MLS

Active Listings Analysis Sellers: Active Listings Analysis: Sellers: This report is showing a leveling of the total number of homes available to buyers … this takes into consideration the number of new homes on the market, those selling or going under contract, and those “giving up” on the market. As we watch the impact of national and local economic decisions that are made in the next few months, this will be an important number to watch. Note that we normally see an increase in the active listings in January; this January saw that number stay very consistent with the past 7 months, meaning that homes are still selling and homes are still being introduced to the market each month. Provided by Keller Williams Legacy One Realty – Statistics from January 2009 MLS

Months of Inventory Analysis Sellers: Months of Inventory Analysis: Sellers: Good news! The amount of available inventory decreased significantly once again to only months of inventory based on active listings vs. sales for that same month. This is an important number for sellers, as it still means we are in a buyer-controlled market, but this is the best number we have seen since March of 2007!!!! Provided by Keller Williams Legacy One Realty – Statistics from January 2009 MLS

Total Market Overview Sellers: Total Market Overview: Sellers: This report provides a detailed breakdown of homes in Maricopa County based on price … by determining the price range where your home SHOULD sell, you can see what the average list to sales price ratio is, the average days on market, and more importantly, the percentage of homes selling in that price range. Note that as the price increases, so does the days on market AND the list to sales price ratio decreases. You will also see a lower percentage of homes selling as the price increases. Provided by Keller Williams Legacy One Realty – Statistics from January 2009 MLS

Summary Comments Provided by Keller Williams Legacy One Realty – Statistics from January 2009 MLS

IMPORTANT INFORMATION IMPORTANT INFORMATION: Although these reports are beneficial in understanding the general market in Maricopa County, it is essential that you meet with your real estate professional to study these same figures in your area, as statistics will vary from neighborhood to neighborhood. As the political climate locally and nationally changes over the next few months, it will be important for you to watch these market trends even more closely. Your real estate professional is available to help you monitor and interpret them to make sure that you are taking advantage of the current market whether you are selling OR buying. Provided by Keller Williams Legacy One Realty – Statistics from January 2009 MLS