While the median home price in Greater Phoenix decreased the median square footage increased from 1,700 to 1,800 in January 2008.  As a result the price per square foot decreased from $152.9 to $127.8, a 16.4% drop. 

Condos and Townhomes dropped only 1.2% from $157.7 per square foot to $155.8.  The median square footage last year was 1,120 while in January 2008 it was 1,110.

Price Per Square Foot	Jan-07	Jan-08
Single Family Homes	$ 152.9	$ 127.8	-16.4%
Townhomes	$ 157.7	$ 155.8	-1.2%