Frequently Asked Questions (FAQs) for Statistics Panels on flexmls - click on the question to see the answer!

The number of active listings is recorded at about 7 a.m. on the first day of each month for each city and ZIP code.

The graph plots these numbers over the last year, providing thirteen data points. Each data point is assigned to the month in which the reading was taken, so the most recent reading is usually for the current month and represents the active listing count on the first day of that month.

Active listings with contingent offers (AWC) are included in the counts, since under ARMLS rules, these are still being actively marketed and soliciting offers. Once a listing has a contract signed by both parties with only the normal contingencies (e.g. inspection, loan) it ceases to be active and its status should normally be changed to pending.

Active listings also disappear when they expire or are canceled.

The count of active listings provides a good measure of the level of supply in that market.

Note: Only single family detached homes are included in the count.

The number of sales in a calendar month is recorded for each city and ZIP code and plotted over the last year, providing thirteen data points.

Each data point is assigned to the month in which the sales occurred. The sales reading is taken at or around the 5th of the following month. So even though the reading might be taken on April 5, for example, it is assigned to the month of March. We always allow a few days after the month end to allow the majority of sales to be recorded. Late recordings will not be included in that month, but will be counted when the chart is revised the following month. The most recent month is therefore likely to show a slightly lower total than the true figure. Subsequent corrections may cause the earlier numbers to revised slightly. The current month is not shown since it has not yet completed and therfore the sales count is not yet known.

Pinal county data is available much later than Maricopa county data. So the most recent one or two data points may be omitted for Pinal county cities and ZIP codes. You may find the ARMLS sales data more useful since it is more timely even though it is somwhat less complete than the county records.

The number of sales per month provides a good measure of market activity, but may be quite erratic in cities or ZIP codes with low sales volumes.

Note: Only homes defined as "single family" by the assessor are included in the count.

Two independent sets of data are shown for each ZIP code and city:

1. On the first day of each month, the average list price of all the active listings is divided by the average living space in square feet of these same listings. The resulting value ($/SF) is plotted against the previous month even though it was measured on the first day of the following month. This is to allow easy comparison with the most recent complete month of sales pricing. A full year of data is shown - thirteen data points. Only single family detached homes are included in the calculation. The final list price is always used for a listing even if though the listing may have had other prices on earlier dates.
2. The average sales price for sales from the "Sales per Month" chart are divided by the average assessor's living space in square feet for those same sales. The resulting value ($/SF) is plotted against the month in which the sales occurred. The latest reading is therefore usually for the previous month. Only homes defined as "single family" by the assessor are included in the calculation. If the assessor's living space is blank, the sale is ignored for the purposes of this calculation.

In Arizona, almost all residential real estate loans use a Deed of Trust. The foreclosure process starts with a "Notice of Trustee Sale" (NT), giving the homeowner formal notice that the lender is asking the third party Trustee to schedule a public sale of the property by auction to recover (at least some of) the lender's money. During the period between the notice (NT) and the actual sale (Trustee Deed - TD), many borrowers may be able to avoid the Trustee Sale by a number of different processes:

1. They negotiate a modification of the loan with payments they can afford. The trustee sale is cancelled.
2. They negotiate a forbearance in which the lender cancels the trustee sale and the borrower agrees to a revised schedule of payments to bring the loan current.
3. The property is sold to a third party and the loan is paid off with the proceeds. If the lender agrees to accept less than the full amount owned on the loan this is called a Short Sale.
4. The borrower deeds the property back to the lender with a "Deed in Lieu of Foreclosure".
5. The borrower declares bankruptcy.

Often the trustee sale is postponed while the lender and the borrower try to work out an arrangement.

If all the above fail, then the property is sold by the trustee at auction and issues a Trustee Deed (TD) to the highest bidder. Very often the highest bidder is the original lender who then gets to own the property (often referred to as an REO). Sometimes the highest bidder is a third party.

The chart plots the number of NTs and the number of TDs that occurred in a calendar month for each city and ZIP code.

The foreclosures chart provides an indication of the level of market distress. In ZIP codes or cities with low volumes of sales the numbers may fluctuate wildly.

The data includes only single family homes as defined by the county assessor.

Note that Pinal county foreclosure information is collected 6 to 8 weeks later than Maricopa data.

We show data for 39 different cities and 136 ZIP codes. We only cover the Greater Phoenix area, so Flagstaff, Payson, Prescott, etc. are not available. Most of those Greater Phoenix areas that are missing are omitted because their volumes are too small to make charting the data useful. If volumes grow large enough then the new city or ZIP code will be added at a future date.

Desert Hills is omitted even though it has reasonable sales volumes, because it is not recognized as a valid city name in the county records. It is included within the Phoenix numbers. For separate treatment of Desert Hills you can refer to the ARMLS data within the Cromford Report.

If you are viewing an ARMLS listing on flexmls for a ZIP code or City that is not charted, then the statistics panel will show the default ZIP code (85003) or city (Anthem) instead.

The data is collected from a number of different sources.

1. ARMLS data is used for the Active Listings counts and Active Listing Price per Square Foot. ARMLS data is also used for the Square Feet of active listings.
2. Maricopa and Pinal County Recorder deeds and affidavits of value are collected and used to record sales per month and sales prices.
3. Maricopa and Pinal County Assessor files are used to determine Livable Square Feet for the Price per Square Foot calculation for Sales.
4. Maricopa and Pinal County notices of trustee sale and trustee deeds are used to create the Foreclosure charts.

Note that ARMLS sales and county record sales are not the same. County records will contain transactions that did not go through ARMLS. For example, For Sale by Owner (FSBO), Non-MLS auctions, private sales, etc. The majority of new home sales are also done outside MLS. The sales counts from public records will therefore usually exceed the sales counts from ARMLS.

The ARMLS data is collected and compiled by the Cromford Report (owned by Cromford Associates LLC).

The Maricopa and Pinal county records and assessor files are compiled and transcribed by The Information Market LLC and supplied to the Cromford Report to create the charts.

The original data used to create the charts is obtained from public and county records and obtained under license from the Arizona Regional Multiple Listing Service, Inc (ARMLS). The original source data contains errors (see below). The compilers spend a great deal of time and energy detecting and correcting most errors in order to improve the accuracy of the statistics. However not all errors will be detected. Although the data is believed to be the most accurate that is available, it is not error-free and no guarantee is made as to its accuracy. Cromford Associates LLC, the Information Market LLC and ARMLS expressly disclaim and make no representations or warranties of any kind, whether express, implied or statutory, as to the accuracy of the data used or the merchantability or fitness for any particular purpose.

Almost any type of data entry error can and does occur. Some common examples:

1. Homes may be given an incorrect address and therefore be assigned to the wrong county, city or ZIP code.
2. Living space on ARMLS and on the assessor's database is not always recorded accurately.
3. Duplicate filings are sometimes made for notices of trustee sale.
4. Sales prices are not recorded with 100% accuracy on public records.
5. The close of escrow date may be incorrect and the sale may therefore be assigned to the wrong month.

Procedures are in place to detect most of these and substitute correct values. However not all will be detected and/or corrected.