A few thoughts regarding the Maricopa County quarterly chart:
Because we’re looking at more sales (county vs city, and quarter vs month), there is less volatility in the chart. We can see the line trending upward gently, year after year. Q4 ‘16 is the only quarter which is lower than the preceding quarter, and it was only down by $114.
The entire year’s worth of appreciation comes in the 2nd Quarter. Q3, Q4, and Q1 are relatively flat each year. So, you might advise your buyers to buy in Q1, before prices go up. And your sellers might want to wait until late in Q2 or early Q3 to sell, when prices are higher. Just a thought…
We are getting very close to $300,000 being the median sales price for the county. This is exciting if you already own a home and a little scary if you don’t, because wages have not increased nearly this much over the last 3-4 years, which means homes in Maricopa County are getting less affordable.
- Chris Butterworth
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* All chart data represents single-family detached homes only. Information is believed accurate but not guaranteed.