Arizona Real Estate Notebook

Price (green line) The median home price was essentially flat at $209,900 in April after $210,000 in March. Sales (blue line) Homes sales in metro Phoenix in April were surprisingly strong. There had been some talk in Realtor circles about strong sales of existing homes in the outlying areas (where prices have fallen so much). [...]

Price (green line) The median home price surprised me again with a significant decline, $6,600 from January to February, to $213,400. I was thinking a few months ago that prices would fall to a point where they would level off for a few years while inflation would take care of the last bit of the [...]

February is great month for apocalyptic real estate writing. January is the worst month for Arizona real estate closings and median home prices. Even though the real estate market, in fact, turns the corner in January every year, those sales won’t close until February and that data won’t be seen until mid-March. So now is [...]

[Whoops! I accidentally erased the text. And it was brilliant stuff... although I couldn't have been too brilliant if I accidentally erased it. That's the problem with working at midnight.] “MLS Listings” are measured at one point in time, usually the 15th day of the current month. “Median Price” of homes sold and the total [...]

EXCLUSIVE – Graphic presentation created by John Wake, Associate Broker, HomeSmart Real Estate, using ASU data. Farewell to these graphs! This will be the last month I will make these graphs based on ASU data. I am now creating new zip code level graphs of home sales, median sale price and median price per square [...]

This graph is based on MLS data and is a bit different from the graphs for 14 cities below which are based on ASU data of all home sales. Price The median home price (green line) in Greater Phoenix declined $2,500 from October to November which is unusually large for the month. The median price, [...]

EXCLUSIVE – Graphic presentation created by John Wake, Associate Broker, HomeSmart Real Estate, using ASU data. We’ll see a couple more months of weak prices until we start seeing seasonal strength in February closings. Northeast Valley Scottsdale Arizona homes for sale now Southeast Valley Chandler Arizona homes for sale now Gilbert Arizona homes for sale [...]

This graph is based on MLS data and is a bit different from the graphs for 14 cities below which are based on ASU data of all home sales. October was a “slightly” month. Price was up slightly. Sales were up slightly. Listings were up slightly. Price The median home price (green line) in Greater [...]

EXCLUSIVE – Graphic presentation created by John Wake, Associate Broker, HomeSmart Real Estate, using ASU data. Definition of a Bubble “When prices increase and people buy more. When prices decrease and people buy less.” That terrific definition was given to me by a brilliant client and friend of mine. Many of the glass-half-empty readers of [...]

This graph is based on MLS data and is a bit different from the graphs for 14 cities below which are based on ASU data of all home sales. Price The median home price (green line) in Greater Phoenix dropped $10,100 in September to $234,900. Since June, the median home price for Greater Phoenix has [...]

EXCLUSIVE – Graphic presentation created by John Wake, Associate Broker, HomeSmart Real Estate, using ASU data. Prices seem generally flat. What caught my eye was Phoenix. Phoenix prices have been a “bright” spot among Valley cities. It’s prices have been stable and strong compared to the other cities. The Phoenix median home price peaked late, [...]

Price The median home price (green line) in Greater Phoenix dropped another $5,000 in August to $245,000 after dropping $5,000 in July. That’s a 4% drop in 2 months. Looking at past years, it’s not uncommon to see another price drop in September before leveling off, more or less, through the remainder of the year. [...]

Price I said last month, “June is likely the peak for median home prices for the year” and on cue the median home price dropped $5,000 or 2% from June to July. I still “expect the median price for greater Phoenix to dip into the $240,000′s.” If you have a home up for sale, I [...]

EXCLUSIVE – Graphic presentation of ASU data created by your favorite Realtor, John L. Wake, Associate Broker, HomeSmart Real Estate. The median home price trend is generally flat in these 14 cities, although the East Valley cities seem to be up a bit from June. Northeast Valley Scottsdale Arizona homes for sale now Southeast Valley [...]

Price June is likely the peak for median home prices for the year. The median home price (green line) tends to fall in the Fall. I expect the median price for greater Phoenix to dip into the $240,000′s. Phoenix has been strong and may see little or no decline in the median home price. The [...]

EXCLUSIVE – Graphic presentation of ASU data created by your favorite Realtor, John L. Wake, Associate Broker, HomeSmart Real Estate. Northeast Valley Scottsdale Arizona homes for sale now Southeast Valley Chandler Arizona homes for sale now Gilbert Arizona homes for sale now Mesa Arizona homes for sale now Tempe Arizona homes for sale now Phoenix [...]

BLAH The median home price increased to $255,000 even while the inventory of homes for sale increased to 51,013, yet another new record. May homes sales (5,795 and 77% of May 2006) were up 5% from April. The seasonal drift lower will likely start in June and last through January. Median home prices for the [...]

EXCLUSIVE – Graphic presentation of ASU data created by your favorite Realtor, John L. Wake, Associate Broker, HomeSmart Real Estate. The median home price trend is generally flat in these 14 cities, however, Avondale seems to be drifting lower. Northeast Valley Scottsdale Arizona homes for sale now Southeast Valley Chandler Arizona homes for sale now [...]