Median Price

Fountain Hills Pricing is down and up

The Median Sales Price in Fountain Hills was $487,500 in August, down slightly YoY from $503,500 in Aug ‘18, but still higher than the $434,500 median price in Aug ‘17. The trend, however, is clearly upwards since the market’s bottom in 2010, with a few ups and downs along the way.

A couple interesting thoughts about this chart:

  • Fountain Hills does not have as much sales volume as some of the other cities, which leads to more volatility from month to month. This is why it’s a good idea to look at larger time bands (such as quarterly numbers) or longer time horizons (such as the trend since 2010.)

  • Fountain Hills is one of the few cities in the Valley which has not yet fully recovered back to the pricing levels from 2005 - 2006. Those who bought homes here in the peak might still be selling at a loss today. Patience, Fountain Hills. Patience.

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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.

 

Pricing Trend holds in Maricopa County

The Median Sales Price in Maricopa County is up 5% YoY: $308,000 in August vs $292,000 in August ‘18. A closer look at the chart, however, shows most of the price appreciation occurs in the spring; prices rise from Feb - May, and then stay relatively flat the remainder of the year.

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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.

 

Phoenix prices are historically high

Taking a look at the Median Sales Price in Phoenix since the turn of the century, there are a few things that jump off the page at me:

  • The current prices have reached all-time high levels.

  • The Boom and Bust years are clear to see, where the market was completely out of whack.

  • The trendline (appreciation rate) from the earlier years (2000 - 2004) showed the prices increasing at a slower pace than they have been recently.

  • The trendline from 2014 - current shows prices appreciating at a much faster clip - definitely faster than most peoples’ incomes have been rising over the same timeframe. Is this sustainable?

Sometimes I like taking a long-term look at the market to see how far prices have risen over the last couple decades. (But it also makes me wish I had bought a lot more property on the left-side of the timeline!)

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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.

 

West Valley Prices mostly increasing

Prices are up across the West Valley when comparing July ‘19 with July ‘18, except for Litchfield Park - which surprisingly showed a $21,400 decrease in the median sales price YoY. This might be a statistical fluctuation due to the smaller sales volume - I will run a more detailed report for Litchfield Park next month when August numbers are available, and maybe again once we reach the end of the 3rd Quarter.

In the meantime, we have shown this week that prices have risen across (just about) the entire Valley compared to last year.

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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.