ASU Realty Studies has put out the June 2008 Phoenix real estate market resale data numbers.  These are different from those presented by the MLS (ARMLS -system used by Realtors) Take a look at graphs made based on the June Phoenix home resale data from the ARMLS.

"This sales activity (ASU data) includes 3,275 recorded foreclosed home transactions and 4,565 traditional market transactions.  Foreclosed transactions represent home owners loosing their property to successful individual bidders or the lender of record."

In June a total of 7,845 homes were sold compared to 5,134 last year.  Foreclosed sales represented just under 42% of all sales in 2008 while it was just over 11% in 2007.

	Median Sale Price	Units	Median Sale Price	Units
	June '07		June'08
VALLEY	$ 260,000	5145	$ 194,761	7,845
Phoenix	$ 225,000	1375	$ 158,100	2,230
Scottsdale	$ 605,000	425	$ 501,135	440
Glendale	$ 243,000	345	$ 182,955	535
Mesa	$ 235,000	545	$ 179,065	745
Tempe	$ 289,000	135	$ 240,000	150
Gilbert	$ 293,000	360	$ 246,265	500
Chandler	$ 287,250	390	$ 248,875	495
El Mirage	$ 194,900	60	$ 133,100	145
Peoria	$ 25,440	240	$ 218,440	350
Sun City	$ 184,500	115	$ 165,000	110
Surprise	$ 229,000	280	$ 175,000	505
Avondale	$ 236,500	100	$ 161,000	285
Goodyear	$ 284,500	90	$ 186,280	190
% Foreclosed		11.18%		41.77%

(Data is from ASU Realty Studies, Graphed by Artur Ciesielski, CCIM)

All cities had an increase in sales with Goodyear, Surprise, Chandler, El Mirage and Gilbert having the highest % increase over last year.  Sales in Sun City were down. 

Prices in the outlying areas are downright bargains especially considering the increasing cost of building materials but, many are still far away from employment centers. 

Despite the lower prices and available financing the market will probably continue to struggle in many areas but, take a look at real estate activity in Surprise.