It's been a good year in the East Valley

The Median Price per Square Foot has increased across the East Valley over the last year, including Chandler, Gilbert, Mesa and Tempe. And with the exception of Tempe’s dip in Jan ‘18, the pricing relationship remained consistent among all 4 cities, with Tempe being the most expensive (at $180/sqft last month), followed by Chandler ($176/sqft), Gilbert ($166/sqft), and Mesa ($158/sqft).

All 4 cities’ median pricing increased approximately 10%, give or take a percent or two.

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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.

 

Avondale Prices continue slow-rising trend

The pricing trend for Avondale is a gently sloping upward trend, with the $228,000 median sales price in November up 3.4% over the $220,500 median from Nov ‘17, and up 14% compared with Nov ‘16’s $200,000 median.

While 3.5% doesn’t seem like a lot, the 14% increase over 2 years is more in line with the rest of the Valley.

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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.

 

Glendale Prices Were Flat in November

Glendale prices were flat last month when comparing the year over year median sales price - $240,000 in Nov 2018 vs $237,000 in Nov 2017. That being said, I wouldn’t panic yet.

  • Prices have increased about 20% in the last 3 years, from $199,000 in Nov 2015.

  • Prices have been increasing quarter after quarter, based on last month’s chart.

  • We’ve talked before about how statistics can be misleading when looking at a short time period (ie: a single month might be higher or lower than the trend, which can make a month-vs-month comparison look wacky.)

We’ll have to check back in on Glendale in the coming months to see whether this was a one-month blip, or the beginning of a new 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.

 

Mesa pricing continues upward trend

Interesting that the median sales price in Mesa has followed the exact same $20,000 per year increase as Maricopa County as a whole, although the actual numbers are different. From $232,000 at the beginning of 2017, to $252,000 in November 2017, to $272,000 last month - the median sales has continued its upward 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.

 

Maricopa County shows steady price appreciation

A quick look at the Median Sales Price in Maricopa County over the last couple years shows a steady increase of $20,000 YoY for each of the last 2 Novembers: $250,000 in 2016, $270,000 in 2017, and $290,000 in 2018.

It also looks like prices peaked at about $295,000 in the spring-summer. If the seasonal trend continues and the overall market stays healthy, I would expect to cross the $300,000 barrier next spring.

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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.