Median Home Price Graphs of Phoenix Real Estate

194493 Resource 164804 165387 165387 1200032437637 1200068409814 Controlled Greater Phoenix Median Home Price Trends for December 2007

December 2007 Median Home Prices in Greater Phoenix

Greater Phoenix Median Home Price Changes from December 2006 to December 2007.  Single Family Homes.  <table width="250" cellspacing="0" cellpadding="0" border="0" style="width: 188pt; border-collapse: collapse;"><colgroup><col width="69" style="width: 52pt;" /><col width="64" style="width: 48pt;" /><col width="69" style="width: 52pt;" /><col width="48" style="width: 36pt;" /></colgroup><tbody><tr height="18" style="height: 14.1pt;"><td width="69" height="18" style="border: 0.5pt solid windowtext; width: 52pt; height: 14.1pt; background-color: transparent;" class="xl67"> </td><td width="64" style="border-style: solid solid solid none; border-color: windowtext windowtext windowtext rgb(236, 233, 216); border-width: 0.5pt 0.5pt 0.5pt medium; width: 48pt; background-color: transparent;" class="xl75">Median Sale Price</td><td width="69" style="border-style: solid solid solid none; border-color: windowtext; border-width: 0.5pt 0.5pt 0.5pt medium; width: 52pt; background-color: transparent;" class="xl68">Median Sale Price</td><td width="48" style="border-style: solid solid solid none; border-color: windowtext; border-width: 0.5pt 0.5pt 0.5pt medium; width: 36pt; background-color: transparent;" class="xl80">% Change</td></tr><tr height="18" style="height: 14.1pt;"><td height="18" style="border-style: none solid solid; border-color: windowtext; border-width: medium 0.5pt 0.5pt; height: 14.1pt; background-color: white;" class="xl69"> </td><td style="border-style: none solid solid none; border-color: windowtext windowtext windowtext rgb(236, 233, 216); border-width: medium 0.5pt 0.5pt medium; background-color: white;" class="xl83">Dec. '06</td><td style="border-style: none solid solid none; border-color: windowtext; border-width: medium 0.5pt 0.5pt medium; background-color: white;" class="xl84">Dec. '07</td><td style="border-style: none solid solid none; border-color: windowtext; border-width: medium 0.5pt 0.5pt medium; background-color: white;" class="xl81"> </td></tr><tr height="18" style="height: 14.1pt;"><td height="18" style="border-style: none solid solid; border-color: rgb(236, 233, 216) windowtext windowtext; border-width: medium 0.5pt 0.5pt; height: 14.1pt; background-color: rgb(238, 236, 225);" class="xl70">VALLEY</td><td style="border-style: none solid solid none; border-color: rgb(236, 233, 216) windowtext windowtext rgb(236, 233, 216); border-width: medium 0.5pt 0.5pt medium; background-color: rgb(238, 236, 225);" class="xl76"> $ 255,900 </td><td style="border-style: none solid solid none; border-color: rgb(236, 233, 216) windowtext windowtext; border-width: medium 0.5pt 0.5pt medium; background-color: rgb(238, 236, 225);" class="xl71"> $ 232,000 </td><td align="right" style="border-style: none solid solid none; border-color: rgb(236, 233, 216) windowtext windowtext; border-width: medium 0.5pt 0.5pt medium; background-color: rgb(238, 236, 225);" class="xl88">-9.3%</td></tr><tr height="18" style="height: 14.1pt;"><td height="18" style="border-style: none solid solid; border-color: rgb(236, 233, 216) windowtext windowtext; border-width: medium 0.5pt 0.5pt; height: 14.1pt; background-color: rgb(238, 236, 225);" class="xl70">Phoenix</td><td style="border-style: none solid solid none; border-color: rgb(236, 233, 216) windowtext windowtext rgb(236, 233, 216); border-width: medium 0.5pt 0.5pt medium; background-color: rgb(238, 236, 225);" class="xl76"> $ 222,400 </td><td style="border-style: none solid solid none; border-color: rgb(236, 233, 216) windowtext windowtext; border-width: medium 0.5pt 0.5pt medium; background-color: rgb(238, 236, 225);" class="xl71"> $ 200,610 </td><td align="right" style="border-style: none solid solid none; border-color: rgb(236, 233, 216) windowtext windowtext; border-width: medium 0.5pt 0.5pt medium; background-color: rgb(238, 236, 225);" class="xl88">-9.8%</td></tr><tr height="18" style="height: 14.1pt;"><td height="18" style="border-style: none solid solid; border-color: windowtext; border-width: medium 0.5pt 0.5pt; height: 14.1pt; background-color: rgb(238, 236, 225);" class="xl72">Scottsdale</td><td style="border-style: none solid solid none; border-color: windowtext windowtext windowtext rgb(236, 233, 216); border-width: medium 0.5pt 0.5pt medium; background-color: rgb(238, 236, 225);" class="xl77"> $ 567,500 </td><td style="border-style: none solid solid none; border-color: windowtext; border-width: medium 0.5pt 0.5pt medium; background-color: rgb(238, 236, 225);" class="xl73"> $ 523,350 </td><td align="right" style="border-style: none solid solid none; border-color: windowtext; border-width: medium 0.5pt 0.5pt medium; background-color: rgb(238, 236, 225);" class="xl89">-7.8%</td></tr><tr height="18" style="height: 14.1pt;"><td height="18" style="border-style: none solid solid; border-color: windowtext; border-width: medium 0.5pt 0.5pt; height: 14.1pt; background-color: white;" class="xl69">Glendale</td><td style="border-style: none solid solid none; border-color: windowtext windowtext windowtext rgb(236, 233, 216); border-width: medium 0.5pt 0.5pt medium; background-color: white;" class="xl78"> $ 244,900 </td><td style="border-style: none solid solid none; border-color: windowtext; border-width: medium 0.5pt 0.5pt medium; background-color: white;" class="xl74"> $ 209,365 </td><td align="right" style="border-style: none solid solid none; border-color: windowtext; border-width: medium 0.5pt 0.5pt medium; background-color: white;" class="xl90">-14.5%</td></tr><tr height="18" style="height: 14.1pt;"><td height="18" style="border-style: none solid solid; border-color: windowtext; border-width: medium 0.5pt 0.5pt; height: 14.1pt; background-color: white;" class="xl69">Mesa</td><td style="border-style: none solid solid none; border-color: windowtext windowtext windowtext rgb(236, 233, 216); border-width: medium 0.5pt 0.5pt medium; background-color: white;" class="xl78"> $ 241,000 </td><td style="border-style: none solid solid none; border-color: windowtext; border-width: medium 0.5pt 0.5pt medium; background-color: white;" class="xl74"> $ 212,000 </td><td align="right" style="border-style: none solid solid none; border-color: windowtext; border-width: medium 0.5pt 0.5pt medium; background-color: white;" class="xl90">-12.0%</td></tr><tr height="18" style="height: 14.1pt;"><td height="18" style="border-style: none solid solid; border-color: windowtext; border-width: medium 0.5pt 0.5pt; height: 14.1pt; background-color: white;" class="xl69">Tempe</td><td style="border-style: none solid solid none; border-color: windowtext windowtext windowtext rgb(236, 233, 216); border-width: medium 0.5pt 0.5pt medium; background-color: white;" class="xl78"> $ 272,750 </td><td style="border-style: none solid solid none; border-color: windowtext; border-width: medium 0.5pt 0.5pt medium; background-color: white;" class="xl74"> $ 264,250 </td><td align="right" style="border-style: none solid solid none; border-color: windowtext; border-width: medium 0.5pt 0.5pt medium; background-color: white;" class="xl90">-3.1%</td></tr><tr height="18" style="height: 14.1pt;"><td height="18" style="border-style: none solid solid; border-color: windowtext; border-width: medium 0.5pt 0.5pt; height: 14.1pt; background-color: white;" class="xl69">Gilbert</td><td style="border-style: none solid solid none; border-color: windowtext windowtext windowtext rgb(236, 233, 216); border-width: medium 0.5pt 0.5pt medium; background-color: white;" class="xl78"> $ 328,000 </td><td style="border-style: none solid solid none; border-color: windowtext; border-width: medium 0.5pt 0.5pt medium; background-color: white;" class="xl74"> $ 260,025 </td><td align="right" style="border-style: none solid solid none; border-color: windowtext; border-width: medium 0.5pt 0.5pt medium; background-color: white;" class="xl90">-20.7%</td></tr><tr height="18" style="height: 14.1pt;"><td height="18" style="border-style: none solid solid; border-color: windowtext; border-width: medium 0.5pt 0.5pt; height: 14.1pt; background-color: white;" class="xl69">Chandler</td><td style="border-style: none solid solid none; border-color: windowtext windowtext windowtext rgb(236, 233, 216); border-width: medium 0.5pt 0.5pt medium; background-color: white;" class="xl78"> $ 282,900 </td><td style="border-style: none solid solid none; border-color: windowtext; border-width: medium 0.5pt 0.5pt medium; background-color: white;" class="xl74"> $ 260,000 </td><td align="right" style="border-style: none solid solid none; border-color: windowtext; border-width: medium 0.5pt 0.5pt medium; background-color: white;" class="xl90">-8.0%</td></tr><tr height="18" style="height: 14.1pt;"><td height="18" style="border-style: none solid solid; border-color: windowtext; border-width: medium 0.5pt 0.5pt; height: 14.1pt; background-color: white;" class="xl69">El Mirage</td><td style="border-style: none solid solid none; border-color: windowtext windowtext windowtext rgb(236, 233, 216); border-width: medium 0.5pt 0.5pt medium; background-color: white;" class="xl78"> $ 209,750 </td><td style="border-style: none solid solid none; border-color: windowtext; border-width: medium 0.5pt 0.5pt medium; background-color: white;" class="xl74"> $ 160,000 </td><td align="right" style="border-style: none solid solid none; border-color: windowtext; border-width: medium 0.5pt 0.5pt medium; background-color: white;" class="xl90">-23.7%</td></tr><tr height="18" style="height: 14.1pt;"><td height="18" style="border-style: none solid solid; border-color: windowtext; border-width: medium 0.5pt 0.5pt; height: 14.1pt; background-color: white;" class="xl69">Peoria</td><td style="border-style: none solid solid none; border-color: windowtext windowtext windowtext rgb(236, 233, 216); border-width: medium 0.5pt 0.5pt medium; background-color: white;" class="xl78"> $ 258,450 </td><td style="border-style: none solid solid none; border-color: windowtext; border-width: medium 0.5pt 0.5pt medium; background-color: white;" class="xl74"> $ 232,000 </td><td align="right" style="border-style: none solid solid none; border-color: windowtext; border-width: medium 0.5pt 0.5pt medium; background-color: white;" class="xl90">-10.2%</td></tr><tr height="18" style="height: 14.1pt;"><td height="18" style="border-style: none solid solid; border-color: windowtext; border-width: medium 0.5pt 0.5pt; height: 14.1pt; background-color: white;" class="xl69">Sun City</td><td style="border-style: none solid solid none; border-color: windowtext windowtext windowtext rgb(236, 233, 216); border-width: medium 0.5pt 0.5pt medium; background-color: white;" class="xl78"> $ 215,000 </td><td style="border-style: none solid solid none; border-color: windowtext; border-width: medium 0.5pt 0.5pt medium; background-color: white;" class="xl74"> $ 195,000 </td><td align="right" style="border-style: none solid solid none; border-color: windowtext; border-width: medium 0.5pt 0.5pt medium; background-color: white;" class="xl90">-9.3%</td></tr><tr height="18" style="height: 14.1pt;"><td height="18" style="border-style: none solid solid; border-color: windowtext; border-width: medium 0.5pt 0.5pt; height: 14.1pt; background-color: white;" class="xl69">Surprise</td><td style="border-style: none solid solid none; border-color: windowtext windowtext windowtext rgb(236, 233, 216); border-width: medium 0.5pt 0.5pt medium; background-color: white;" class="xl78"> $ 232,500 </td><td style="border-style: none solid solid none; border-color: windowtext; border-width: medium 0.5pt 0.5pt medium; background-color: white;" class="xl74"> $ 218,350 </td><td align="right" style="border-style: none solid solid none; border-color: windowtext; border-width: medium 0.5pt 0.5pt medium; background-color: white;" class="xl90">-6.1%</td></tr><tr height="18" style="height: 14.1pt;"><td height="18" style="border-style: none solid solid; border-color: windowtext; border-width: medium 0.5pt 0.5pt; height: 14.1pt; background-color: white;" class="xl69">Avondale</td><td style="border-style: none solid solid none; border-color: windowtext windowtext windowtext rgb(236, 233, 216); border-width: medium 0.5pt 0.5pt medium; background-color: white;" class="xl78"> $ 245,000 </td><td style="border-style: none solid solid none; border-color: windowtext; border-width: medium 0.5pt 0.5pt medium; background-color: white;" class="xl74"> $ 203,000 </td><td align="right" style="border-style: none solid solid none; border-color: windowtext; border-width: medium 0.5pt 0.5pt medium; background-color: white;" class="xl90">-17.1%</td></tr><tr height="18" style="height: 14.1pt;"><td height="18" style="border-style: none solid solid; border-color: windowtext; border-width: medium 0.5pt 0.5pt; height: 14.1pt; background-color: white;" class="xl69">Goodyear</td><td style="border-style: none solid solid none; border-color: windowtext; border-width: medium 0.5pt 0.5pt medium; background-color: white;" class="xl74"> $ 257,000 </td><td style="border-style: none solid solid none; border-color: windowtext; border-width: medium 0.5pt 0.5pt medium; background-color: white;" class="xl74"> $ 235,530 </td><td align="right" style="border-style: none solid solid none; border-color: windowtext; border-width: medium 0.5pt 0.5pt medium; background-color: white;" class="xl90">-8.4%</td></tr><tr height="18" style="height: 14.1pt;"><td width="69" height="18" style="border-style: none solid solid; border-color: windowtext; border-width: medium 0.5pt 0.5pt; width: 52pt; height: 14.1pt; background-color: transparent;" class="xl85">Paradise V.</td><td width="64" style="border-style: none solid solid none; border-color: windowtext; border-width: medium 0.5pt 0.5pt medium; width: 48pt; background-color: transparent;" class="xl86">$1,650,000 </td><td width="69" style="border-style: none solid solid none; border-color: windowtext; border-width: medium 0.5pt 0.5pt medium; width: 52pt; background-color: transparent;" class="xl87">$1,750,000 </td><td width="48" style="border-style: none solid solid none; border-color: windowtext; border-width: medium 0.5pt 0.5pt medium; width: 36pt; background-color: transparent;" class="xl91">6.1%</td></tr></tbody></table> Data from ASU Polytechnic, Graphed by Artur Ciesielski, CCIMIf you look at the above chart of median home price changes from the last month of 2006 to the same period of 2007, you may actually cry, especially if you have a property in Gilbert, El Mirage or Avondale.  Your tears may be of sorrow because of the decline but they my be of joy, because you can now buy a wonderful home at an affordable price.  The previous named cities had the highest declines in median home prices from the previous year.It's interesting to compare the median home price drop from Dec. 2006 to Dec. 2007 compared to the median home price drop by year.  The former number is -9.3% from $255,900 to $232,000 while the later is $260,000 in 2006 compared to $257,000, a decline from 2006 to 2007 of only 1.4%.<img width="399" hspace="0" height="286" border="0" align="bottom" src="http://farm3.static.flickr.com/2271/2184052103_9a43a6222a.jpg?v=0" alt="median home price trends in greater phoenix, az" style="width: 399px; height: 286px;" /> (Greater Phoenix Median Home Price Trends from 2005 to present) Year to date 50,975 homes sold.  This is a decline of 24% from the 67,035 that sold in 2006.  I won't even mention the decline from 2005 because its huge and irrelevant, since that year was an unusual year.  In December 3,290 homes sold.  3,280 sold in November 2007 and 4,620 a year ago.It is in the last few months of 2007 that the decline was most severe.  Compare the previous <a target="_blank" href="item/180051" title="historic median home prices changes in Greater Phoenix">month by month median home price charts for Greater Phoenix.</a>So what does this mean?  It's either good news of bad news, but mostly good for affordability and normalization.  <a target="_blank" href="item/194278" title="Phoenix real estate">If you are a buyer read this</a>.Please read our article about the <a target="_blank" href="item/194283" title="Greater Phoenix 2008 real estate outlook">2008 Greater Phoenix real estate forecast</a>. Then decide how to proceed only after a consultation with <a target="_blank" href="http://www.arturciesielski.com/" title="Artur & Joanna Real Estate Team in Phoenix, AZ">your favourite Phoenix real estate agents</a>, because there is more to the real estate market then median home prices, because each neighborhood behaves differently.  Even the gods at ASU stress that, "While some areas have declining prices, other areas are increasing or remaining fairly stable, especially the mature neighborhoods that are close to freeways, retail and schools."  The numbers for those neighborhoods support that.Would you like to know the approximate value of your home in the Phoenix valley?  <a target="_blank" href="http://www.accesshomevalues.com/" title="estimated home values">Access Home Values</a>   9 application/xml false December 2007 median home prices in Phoenix Greater phoenix resale data home many homes sold in Phoenix home prices in Phoenix number of homes sold in Phoenix phoenix home price declines Phoenix median home prices state of the Phoenix real estate market Median Home Price Graphs of Phoenix Real Estate Previous data and graphs. item/180051 2008 Greater Phoenix Real Estate Forecast for 2008 What will real estate do in 2008 item/194283 What is the value of your home? Estimated home value in Phoenix. http://www.accesshomevalues.com Take advantage of real estate on sale. Search the local Phoenix MLS http://www.SearchValleyHomes.com Mozilla/5.0 (Macintosh; U; Intel Mac OS X; en-US; rv:1.8.1.11) Gecko/20071127 Firefox/2.0.0.11 127.0.0.1 127.0.0.1 aciesielski 68.110.116.41 false true false false true 176502 false false true false false false true 164804 blog blogsite/ArturCiesielski/web