Market Stats Update
For the past five or six years (very much unlike my first 20 – 25 years in the real estate business) the price of Phoenix residential real estate has been front page news and sometimes even national news. What you will see here aren’t the glaring headlines – that all sound so much better than my title for this post – but actual stats. Hopefully, seeing them will help you to have a more accurate idea of what is happening.
1. July residential resale properties were over 9,000 for the 3rd month in a row. You would have to go clear back to 2005 to find sales success like that.
2. The trend for the median sales price (the middle point, half of all sales are below this number and half of all sales are above it) is overall, rising. It is currently at 125k. Last April it was 116k.
3. The average (or mean) sales price is up to 175k. March of 2009 it was 159k.