Arizona home price graphs through February 2007

March 8th, 2007 · 4 Comments

EXCLUSIVE PRESENTATION of ASU data by Arizona Real Estate Notebook

It’s grim looking at the chart in the post below this one - median home prices are down year over year in 10 out of 14 Arizona cities.

But when you look at the graphs below, the recent trend has been for median Arizona home prices to stop falling and in some cases to start rebounding.

Graphs based on data published by ASU’s Realty Studies which is affiliated with the Morrison School of Management and Agribusiness at Arizona State University’s Polytechnic campus. I may occasionally make an error when graphing the ASU data.

ASU did not publish data for March, June, September or December until 2006.

Tags: Arizona Price Graphs

4 responses so far ↓

1 henri // Mar 8, 2007 at 5:42 pm

is the scottsdale graph so wacky because of $1M home sales that throw the median off?

interesting to see that phoenix proper hasn’t taken any real hits in value. less new construction to change the pricing?

too bad these graphs don’t show the number of sales…

henri
2 John L. Wake - Realtor // Mar 8, 2007 at 11:40 pm

henri,

I wish I had number of sales graphed as well but that’s a big mind-numbing project.

The median home price in Phoenix will always be more stable than most other cities because of the huge number of home sales in Phoenix. It’s harder to move the median home price when so many sales are involved.

Scottsdale, Scottsdale, Scottsdale.

I guess it gets down to the fact that Scottsdale is bipolar.

You have a huge luxury home market as well as many not-so-luxury homes built in the 1950’s and 1960’s.

If the luxury market is hot one month when the older home market is cool, the median price will take off. If the older home market returns to normal, the median home price comes back down.

Some of those month to month price variations are so large, however, it wouldn’t surprise me if there were some errors in there. You can’t take month to month changes too seriously.
3 rocky // Mar 14, 2007 at 8:41 pm

John…

thanks for the compilation, its very helpful. I came across your link through your comment on azcentral.
4 John L. Wake - Realtor // Mar 14, 2007 at 9:53 pm

rocky,

Thanks!

Tell your friends.

John

Arizona Real Estate Notebook

Arizona real estate news by John Wake, Associate Broker, HomeSmart