Greater Phoenix Resale Single Family Home / Median Home Prices and Year on Year change. | | Median Sale Price | Median Sale Price | % Change | | | July. '06 | July. '07 | | | VALLEY | $ 264,900 | $ 265,000 | 0.00% | | Phoenix | $ 223,000 | $ 225,000 | 0.89% | | Scottsdale | $ 580,000 | $ 600,000 | 3.44% | | Glendale | $ 249,000 | $ 238,500 | -4.21% | | Mesa | $ 249,900 | $ 242,000 | -3.16% | | Tempe | $ 286,000 | $ 283,810 | -0.76% | | Gilbert | $ 335,000 | $ 314,500 | -6.12% | | Chandler | $ 300,500 | $ 308,375 | 2.62% | | El Mirage | $ 220,000 | $ 180,000 | -18.18% | | Peoria | $ 270,000 | $ 264,950 | -1.87% | | Sun City | $ 204,000 | $ 199,500 | -2.21% | | Surprise | $ 253,500 | $ 234,900 | -9.62% | | Avondale | $ 259,900 | $ 222,500 | -14.40% | | Goodyear | $ 295,000 | $ 248,750 | -15.70% |
Data from ASU Polytechnic, graphed by Artur Ciesielski In July 2007, there were 4330 home sales. This is lower compared to previous months so far in 2007. | January | 4520 | | February | 4280 | | March | 5385 | | April | 4855 | | May | 5220 | | June | 4910 | | July | 4330 |
Year to date, 33,510 homes sold compared to 41,835 last year to July, a 19.9% decline. New home sales declined by 31% from last year
(year over year, June). Although the sales are sluggish, they are steady. Resale homes have to compete with new home builders, many of whom, have not cleared their inventory yet and many spec or cancel homes have yet to be finished and sold. The median home price for Phoenix metro, in July was $265,000 compared to $263,145 in June and pretty flat year over year, $264,900 in July 2006. Phoenix, Scottsdale resale prices are holding steady but the outlying areas continue to see big declines. Goodyear, Avondale, El Mirage, and Surprise have taken big median price hits. Sales of homes have also dramatically declined in those cities. Other cities have held steady with very slight declines in prices and larger declines in home sales. What is the value of your home in this Phoenix real estate market? |
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