Glendale & Peoria: Low inventory keeps market strong

By Lisa Baker | Peoria Times

In February, 324 MLS listing sales closed in Glendale and 313 in Peoria.

As the week of March 14 closed, there were only 130 active and available listings (not counting properties already under contract or pending close of escrow) in MLS in Glendale and 95 active listings in Peoria. That’s 40% of one month’s inventory in Glendale, down from 63.6% last month, and 30% of one month’s inventory in Peoria, down from 40.9%.

Maricopa County’s active inventory is 48% of February’s sales, a significant drop from the 60.2% of January’s closed sales we saw this time last month.

The average number of days a listing spent on the market in Maricopa County decreased from 35.1 days in January to 32.7 days in February. According to The Cromford Report, 50% of sales closed in Maricopa County during February sold for over the listing price, up from 44% of January sales, driving up the closing price per square foot from $288.42 in January to $297.23 in February.

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