Price per Square Foot

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.

 

Size Matters in Peoria

Earlier in the summer we looked at Peoria, and how different the pricing was for each of the zip codes (Peoria Highlights the Pricing Trend). The chart showed how homes in 85383 in North Peoria were much more expensive than homes in 85381 in South Peoria, while homes in 85382 (in the middle) were priced in the middle.

Based on that information, I was surprised to see how closely the $/sqft numbers are bunched together. Yes, 85381 is usually the lowest priced, but not always. And the other two seem to flip-flop every other month. But by and large, all 3 zip codes’ pricing tends to stay within about $10/sqft of each other.

This means the primary driver for the differing prices between the zip codes must be the size of the houses: the south end of the city has smaller (and older) homes, while the north end of the city has more large (and newer) homes.

I wonder if this pricing idiosyncrasy appears in other parts of the Valley? I’ll look into it in the coming months…

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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.

 

Gilbert Prices rise higher in 2nd Qtr

The Median Price per Square Foot in Gilbert reached $165.96/sqft in Q2 ‘19, up from $157.63/sqft in Q2 ‘18 and $144.58/sqft in Q2 ‘17.

Sometimes we get caught up in the month-to-month fluctuations, but when we take a step back and look at the bigger picture - quarterly numbers over a multi-year timeline, the trend looks pretty solid.

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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 Pricing is up in 2nd Qtr

The Median Price per Square Foot in Mesa was $162.68/sqft in the 2nd Quarter, up 6% YoY from Q2 2018. Looking at the rest of the chart shows very consistent growth, quarter after quarter, over the last 3-4 years.

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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.

 

Goodyear Pricing Climbs Higher

The Median Price per Square Foot in Goodyear was up again this year, coming in at $143.46 last month compared with $134.89 in May’18 and $127.01 in May’17.

While we may be seeing more data and articles pointing towards a possible economic slow-down, prices in Goodyear are sitting almost 7% higher than they were 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.