In Arizona, 4th of July fireworks symbolize not only Independence Day but the beginning of the summer monsoon. The typically late afternoon storms cool the air with welcome rain, rolling thunder and lightning–nature’s own fireworks. Monsoon literally means ‘season’ or ‘wind-shift’.

As summer temperatures rise the wind shifts from a westerly flow to a southerly flow, bringing in moisture from the Gulf of Mexico, or Gulf of California (meteorologists are divided on this).divided on this).

Staying with our analogy, as temperatures have risen so too have home sales. According to the current MLS data in the Valley of the Sun, 2,216 homes closed on June 30,2011. This is the largest total ever recorded for a single day, beating the previous record set on June 30, 2004 by nearly 57%! Put in context, total sales for June were 11,141, a new all-time record.

Bucking the national trend, with the supply of homes ‘for sale’ rapidly diminishing and sales at record levels, this dynamic suggests price stability and truly a market on fire.sales at record levels, this dynamic suggests price stability and truly a market on fire.

Support for this view follows - see ‘Local Community Snapshots’.

Magazine Version w

SELECT LOCAL MARKET SNAPSHOTS

Paradise Valley

Current Active Listings

Currently Pending

Sold Past 12 Months

Sold Prior 12 Months

Average Price

# of Month Supply

# of Month Supply

2 yrs Ago

299 45 373 313 $1,435,791 6.8 24.5

Scottsdale

Current Active Listings

Currently Pending

Sold Past 12 Months

Sold Prior 12 Months

Average Price

# of Month Supply

# of Month Supply

2 yrs Ago

2,196 59 4,657 4,413 $497,193 4.2 7.9

Commentary: The striking thing to notice in comparing the performance of both cities over the past 2 years, is how the # of month supply has dropped dramatically. While this is apparent in all sub-markets, it is most noticeable in Paradise Valley, where 2 years ago there was an 24.5 month supply and now there is just over a 6 month supply. In all local cities the number of Sold transactions 2 years ago versus this past year tells a similar story, shrinking supply coupled with a robust demand. To repeat, you can’t talk about demand without talking about supply, or the available inventory of homes for sale. This is the punch line. Today we have strong, almost record demand coupled with a shrinking supply. This suggests price stability at a minimum and explains why the market in Arizona is heating up. It’s been a hot market for investors buying distressed properties, but now we’re seeing the return of the owner-occupant—the buyers that want the best home they can find in the best community, with the intention of living there for at least 5-plus years, without thinking of their home as primarily an investment per se. This is newsworthy--as recent surveys affirm, that in spite of the housing debacle, the American Dream of homeownership lives… Next...

SELECT LOCAL MARKET SNAPSHOTS

Cave Creek

Current Active Listings

Currently Pending

Sold Past 12 Months

Sold Prior 12 Months

Average Price

# of Month Supply

# of Month Supply

2 yrs Ago

271 91 626 453 $387,983 3.6 7.8

Care Free

Current Active Listings

Currently Pending

Sold Past 12 Months

Sold Prior 12 Months

Average Price

# of Month Supply

# of Month Supply

2 yrs Ago

81 10 86 89 $677,973 13.5 45

Fountain Hills

Current Active Listings

Currently Pending

Sold Past 12 Months

Sold Prior 12 Months

Average Price

# of Month Supply

# of Month Supply

2 yrs Ago

230 65 51 43 $491,371 4.5 6.5

Arcadia (ZIP Code 85018)

Current Active Listings

Currently Pending

Sold Past 12 Months

Sold Prior 12 Months

Average Price

# of Month Supply

# of Month Supply

2 yrs Ago

232 62 492 392 $442,000 5 9

Tucson

Current Active Listings

Currently Pending

Sold Past 12 Months

Sold Prior 12 Months

Average Price

Oro Valley

Current Active Listings

Currently Pending

Sold Past 12 Months

Sold Prior 12 Months

Average Price

Average Price1 Yr Ago

# of Month Supply

Average Price1 Yr Ago

# of Month Supply

http://premierpages.co/summernewsletter4.html

http://premierpages.co/marketshare.pdf

These marketshare stats are cross-mls (both Phoenix & Tucson) for all sales 500K and up YTD

http://www.mydigitalpublication.com/publication/?i=68191

Santa Fe Sotheby’s International RealtyOFFERED AT $10,500,000

New MexicoRuss Lyon International RealtyOFFERED AT $5,000,000

Arizona

More...

Rome Sotheby’s International RealtyOFFERED AT $11,162,000

RomeDamianos Sotheby’s International RealtyOFFERED AT $12,500,000

Bahamas

London Sotheby’s International RealtyOFFERED AT $11,366,000

LondonSotheby’s International Realty - ManhattanOFFERED AT $7,900,000

New York

Significant Sales

William Pitt Sotheby’s International RealtyOFFERED AT $7,450,000

ConneticutRussell Post International RealtyOFFERED AT $6,800,000

Florida

Briggs Freeman Sotheby’s International RealtyOFFERED AT $6,500,000

TexasSt. Barth Sotheby’s International RealtyOFFERED AT $8,300,000

St. Barthelemy

Wine Country Sotheby’s International RealtyOFFERED AT $7,980,000

CaliforniaSotheby’s International Realty - So. HamptonOFFERED AT $7,750,000

New York

Significant Sales continued. . .

http://premierpages.co/summernewsletter9.html