East Valley

Steady Price Growth in Tempe

The Median Price per Square Foot in Tempe was up 4% YoY last month ( $156.05/sqft compared with $150.90 in Aug ‘18), and up 29% over the last 3 years.

Generally speaking, the more modest the growth rate, the more sustainable it is over the long term. 4% in a year sounds like a good long-term rate. 29% in 3 years, however, sounds a little fast; it would have home prices doubling every 7 years or so, which doesn’t sound possible, does it?

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- Chris Butterworth

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Simple MLS Charts is supported by readers like you. If you find these charts useful, please consider becoming a patron with a small monthly pledge on Patreon.

* All chart data represents single-family detached homes only. Information is believed accurate but not guaranteed.

 

Chandler Homes continue to sell quickly

The obvious seasonality not withstanding (when homes take longer to sell every year), homes have continued to sell quickly in Chandler, where the Median Days on Market has hovered in the mid-30s for most of the last couple of years.

Chandler is a pretty good place to be a seller. Clean ‘em, stage ‘em, and watch ‘em fly off the shelves!

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- Chris Butterworth

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Simple MLS Charts is supported by readers like you. If you find these charts useful, please consider becoming a patron with a small monthly pledge on Patreon.

* All chart data represents single-family detached homes only. Information is believed accurate but not guaranteed.

 

East Valley Prices Continue to Appreciate

The Median Sales Price has increased YoY across the East Valley. Tempe led the way with a 10% Yoy percentage gain, followed by Mesa (9%), Chandler (8%), and Gilbert (6%). Gilbert remained the most expensive city, however, with a median sales price of $359,950. Mesa continues to be the most affordable city (of the 4), with a median sales price of $301,750.

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- Chris Butterworth

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Simple MLS Charts is supported by readers like you. If you find these charts useful, please consider becoming a patron with a small monthly pledge on Patreon.

* All chart data represents single-family detached homes only. Information is believed accurate but not guaranteed.

 

Mesa Median Price climbs past $300,000

“Slow-down? What slow-down?” says Mesa, where the Median Sales Price in July was over $300,000 for the first time at $301,750. This is up 9.7% YoY from the $275,000 median price in July ‘18, while the trend over the last couple of years shows consistent seasonality mixed in with consistent price appreciation.

It’s been a good run for homeowners in Mesa lately.

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- Chris Butterworth

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Simple MLS Charts is supported by readers like you. If you find these charts useful, please consider becoming a patron with a small monthly pledge on Patreon.

* All chart data represents single-family detached homes only. Information is believed accurate but not guaranteed.

 

Tempe prices showing strength

The Median Sales Price in Tempe has risen approximately 10% YoY in each of the last 2 July periods, from $280,600 in July 2017 to $313,000 in July 2018, and to $344,500 last month.

If the last couple years’ trend holds true again this year, we can expect prices to flatten out during the second half of the year, before bouncing upwards again next spring.

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- Chris Butterworth

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Simple MLS Charts is supported by readers like you. If you find these charts useful, please consider becoming a patron with a small monthly pledge on Patreon.

* All chart data represents single-family detached homes only. Information is believed accurate but not guaranteed.