Prices Rise across the East Valley

The Median Sales Price rose across the East Valley in April, when compared YoY with April 2018. Chandler, Gilbert and Mesa rose modestly (3-5%), while Tempe’s median price rose sharply (8%) from $310,000 in Apr ‘18 to $335,885 in Apr ‘19.

It’s also interesting to see the median prices bunched together so closely, with Chandler, Gilbert, and Tempe all within a couple thousand dollars of each other. I’m not sure exactly what this means, if anything, but it’s unusual compared with other time periods and other parts of the Valley.

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- Chris Butterworth

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* All chart data represents single-family detached homes only. Information is believed accurate but not guaranteed.

 

Mesa Hits Record High in April

I’ve wondered aloud many times over the last month or two whether the market might be slowing down, as prices across the board have not been rising this spring the way we would normally expect them to. Except in Mesa!

The Median Sales Price in Mesa was $280,000 in April - the highest median price ever for the city! And this is on the heels of an upward trend in February and March. So, while prices are flattening out in some parts of the Valley, that hasn’t been the case in Mesa.

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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.

 

Peoria prices are up, and flat

The Median Sales Price was $305,500 in Peoria last month, up from $292,000 last April (4.6%) and $240,000 since April 2015 (27%). So, comparing the recent numbers with prior years’ numbers, the trend looks pretty good.

However, where is the seasonality this year? Each of the prior years saw prices increase during the 1st and 2nd quarters, while 2019 has seen prices remain relatively flat (or even down a touch since Q4 2018.)

I’ll say again that I’m better at reviewing what has happened than predicting what’s going to happen, but this trend does not look like it’s moving in the right direction. (although there’s still time for prices to heat up with the weather..!)

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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.

 

Tempe Prices up 8% in April

Looking at sales in April going back to 2011, and prices have risen in Tempe every year. The median sales price in April ‘19 was $335,885 - up 8% from $310,000 in April ‘18 and 150% since 2011.

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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.

 

Maricopa County Prices Rise

The Median Price per Square Foot has risen consistently in Maricopa County over the last 3 years. April ‘19 saw a median of $161.76 / sqft, up 6% from $152.27 in April ‘18 and 21% since $133.20 in April ‘16.

We saw a few examples last month of pricing weakness in the first quarter, but county-wide that does not appear to be the case as prices continue to march higher.

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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.