Median Price Graph
Phoenix Real Estate Market Update For a charts and graphs overview check the How's The Market section of our website. May was another blow-out month for re-sale transactions, with very strong sales counts and dollar volume. Supply remains very constrained, but despite the big sales count we are starting to see a few signs of weakening demand. If the market can’t attain balance by strengthening supply it can do so by suppressing demand instead. This is not a change in market direction, just a natural cooling off as obstacles for buyers start to get harder to overcome. Here are the basic ARMLS numbers for June 1, 2013 relative to June 1, 2012: - Active Listings: 15,466 versus 12,491 last year – up 23.8% but down 0.1% from 15,482 last month - Pending Listings: 9,662 versus 11,656 last year – down 17.1% and down 11.3% from 10,888 last month - Monthly Sales: 9,316 versus 8,439 last year – up 10.4% and up 4.3% from 8,963 last month - Monthly Average Sales Price per Sq. Ft.: $119.40 versus $101.85 last year – up 17% and up 2.5% from last month - Monthly Median Sales Price: $175,000 versus $145,000 last year – up 20.7% and up 1.7% from last month Metro Phoenix home prices up 60% from market low Metro Phoenix’s median home sales price has climbed almost 60 percent from the real estate crash’s low price in August 2011. Read more Farewell 3% mortgage rates In the past month, rates have been on the rise and they are expected to continue to climb. Read more Valley real estate reality check Rising home prices rescue underwater homeowners The number of underwater homeowners has dropped below 10 million nationwide for the first time in more than at least three years. Read More Thinking of buying or selling a home? Go hire yourself a LUCAS!
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