Trends Point Up in the smaller West-Valley cities

Looking at the Median Sales Price by Quarter for some of the smaller cities in the West Valley, the trendlines point upward in an almost linear fashion for Laveen, Tolleson, and El Mirage.

There is more variance in the median sales price for Litchfield Park, although the trendline still points upward from left to right. (Although the last year has dipped somewhat, and Q3’19 is lower than Q3’18. We’ll have to revisit Litchfield Park in a couple-few months to check back on this trend.)

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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.

 

Chandler Pricing Rises across most zip codes

We’ve seen time and time again that quarterly numbers show much less variance than monthly data does, so I was surprised to see any of the zip codes decline when looking at quarterly numbers compared to the same quarter last year. But that’s exactly what happened.

The Median Sales Price in 85226 dropped by 4% this year: $320,000 compared with $335,000 in Q3’18.

The rest of the Chandler zip codes showed price appreciation, ranging from a modest 2.2% in 85249 to a robust 9.3% in 85224. (The rest of the zip codes increased 3.1% in 85286, 4.1% in 85248, and 6.1% in 85225.)

The overall trend was positive as well, with the Median Sales Price in Chandler increasing 4.8%, from $333,875 in Q3’18 to $349,900 in Q3’19. (a bonus number - this isn’t shown in the chart.)

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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 Prices recover from spring dip

When we looked at this Goodyear chart back in May, I had real concerns about the big drop in the Median Sales Price from March to April. Well, it looks like those concerns may have been unfounded, as the median price jumped to an all-time high the next month, and has shown mostly year-over-year gains since then.

The Median Sales Price in Goodyear was $300,100 in Sep’19, up YoY from $290,000 in Sep’18 and $278,700 in Sep’17.

As much as I don’t love those wild variations in the chart, that’s what we get when we look at monthly sales in smaller cities: less data points = more variation. The good news is the overall trend is still pointed upwards nicely.

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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.

 

Surprise Prices are Up Again

The Median Sales Price in Surprise was $269,945 in the 3rd Quarter this year, up from $252,500 in Q3 2018 and $233,000 in Q3 2017. In fact, on a quarter-by-quarter basis, the median price has not decreased once over the last 3 years and 9 months. (It stayed flat, at $260,000, from Q4 ‘18 to Q1 ‘19, but it hasn’t decreased once.)

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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.

 

Prices are Up in Maricopa County

Longer time periods (like quarterly instead of monthly) and larger areas (like Maricopa County instead of a particular suburb) provide more data points, which usually smooths out most of the variance. And this chart is no exception.

Looking at the Median Price per Square Foot of homes sold in Maricopa County, by Quarter, shows a nice, smooth, upward-sloping trend over the last 4.75 years. There is not one instance where the median $/sqft dropped from one quarter to the next. (It only increased a few cents from Q2 to Q3 in 2016, but that’s still an increase.)

This tells us that, even though various cities and neighborhoods have had some volatility, especially when looking at month-to-month numbers, the Valley of the Sun as a whole has been riding a very stable upward trend over the last several 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.