July 2009 began with 20,052 "normal" (non-foreclosures) residential listings on MLS for the Phoenix area real estate market. Those listings have been on the market for an average of 201 days, bringing the number of consecutive months for the average to be over 200 days to "3."
July 2009 began with 11,868 Metro Phoenix foreclosure listings on the Phoenix area real estate market. Metro Phoenix foreclosures are comprised of bank owned properties (REO) and real estate short sales. Those listings have been on the market for an average of 115 days. This is the first time in six months that figure has an dropped to under 120 days.
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