Below is a chart with the most recent single family home resale numbers for Greater Phoenix by city. The prices are median home prices and year to year changes. | | Median Sale Price | Median Sale Price | % Change | | | Feb. '07 | Feb. '08 | | | VALLEY | $ 260,000 | $ 220,000 | -15.4% | | Phoenix | $ 228,470 | $ 185,000 | -19.0% | | Scottsdale | $ 600,000 | $ 513,750 | -14.4% | | Glendale | $ 242,850 | $ 202,000 | -16.8% | | Mesa | $ 238,500 | $ 208,750 | -12.5% | | Tempe | $ 280,000 | $ 240,000 | -14.3% | | Gilbert | $ 307,500 | $ 254,700 | -17.2% | | Chandler | $ 307,500 | $ 244,000 | -20.7% | | El Mirage | $ 206,000 | $ 149,500 | -27.4% | | Peoria | $ 270,000 | $ 225,300 | -16.6% | | Sun City | $ 204,500 | $ 179,750 | -12.1% | | Surprise | $ 245,000 | $ 213,740 | -12.8% | | Avondale | $ 242,080 | $ 194,500 | -19.7% | | Goodyear | $ 270,000 | $ 220,490 | -18.3% | | Paradise V. | $1,740,000 | $2,270,000 | - |
(Data from ASU Polytechnic, Graphed by Artur Ciesielski) Well, the median home price slipped again from January and it's 15% down from last year. All cities saw a decline in median home price with the biggest drops noted in Chandler, El Mirage and Avondale. Even Phoenix saw big decline of 19% but keep in mind that Phoenix is very large area with a varied housing stock. Total sales of homes was 3,710 up from January's 3,350 sales but still quite low compared to the almost 58,000 inventory of homes. |
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