Phoenix Real Estate - Greater Phoenix median prices single family homes sold in May 2007 and May 2006. | Single Family Homes | | | | | | Median Sale Price | Median Sale Price | % Change | | | May. '06 | May. '07 | | | VALLEY | $ 265,000 | $ 262,000 | -1.13% | | Phoenix | $ 220,000 | $ 229,000 | 4.09% | | Scottsdale | $ 615,000 | $ 617,000 | 0.32% | | Glendale | $ 250,000 | $ 243,000 | -2.80% | | Mesa | $ 249,950 | $ 238,000 | -4.78% | | Tempe | $ 288,500 | $ 270,780 | -6.14% | | Gilbert | $ 327,450 | $ 300,000 | -8.38% | | Chandler | $ 306,000 | $ 297,750 | -2.69% | | El Mirage | $ 214,950 | $ 200,000 | -6.96% | | Peoria | $ 284,950 | $ 255,000 | -10.51% | | Sun City | $ 220,000 | $ 199,000 | -9.55% | | Surprise | $ 256,300 | $ 245,070 | -4.38% | | Avondale | $ 260,000 | $ 223,000 | -14.23% | | Goodyear | $ 295,000 | $ 250,000 | -15.25% |
Data is from ASU Polytechnic and graphed by Artur Ciesielski, PLLC This is the time of year that sales in Phoenix Metro should be increasing. Last year in May 10,425 homes sold while only 5,220 sold in May this year. 24,265 home sold year to date in Greater Phoenix while last year 30,830 homes sold year to date, it was 46,485 YTD in 2005.
Prices have levelled off. The high rises of previous years age gone. Median price for Phoenix metro in may was $262,000, a 1.13% decline from last years $265,000. The graph above of greater Phoenix median home prices shows a lot of declines. In, fact most cities showed a decline in median price except Phoenix which had a 4% increase and Scottsdale which was pretty much level. Goodyear, Avondale and Peoria had the greatest declines in median prices. It's important to remember that just looking at single month changes is not the best measure. It does not show a trend.
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