As of September 2009 active inventory was 37,909, a 29% decrease from September 2008. There were 7,968 closings in September 2009, 29% above September 2008. Months of Inventory was 4.8, down from 8.7 in September 2008. Median price of sold homes was $130,000 for the month of September 2009, down 24% from September 2008. Phoenix is experiencing an increase in buyer activity, with new properties under contract up 46% from September 2008.