Fountain Hills

Fountain Hills Pricing is down and up

The Median Sales Price in Fountain Hills was $487,500 in August, down slightly YoY from $503,500 in Aug ‘18, but still higher than the $434,500 median price in Aug ‘17. The trend, however, is clearly upwards since the market’s bottom in 2010, with a few ups and downs along the way.

A couple interesting thoughts about this chart:

  • Fountain Hills does not have as much sales volume as some of the other cities, which leads to more volatility from month to month. This is why it’s a good idea to look at larger time bands (such as quarterly numbers) or longer time horizons (such as the trend since 2010.)

  • Fountain Hills is one of the few cities in the Valley which has not yet fully recovered back to the pricing levels from 2005 - 2006. Those who bought homes here in the peak might still be selling at a loss today. Patience, Fountain Hills. Patience.

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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.

 

Fountain Hills Pricing nearing peak levels

The Median Price per Square Foot was up 7% YoY in Fountain Hills in February, reaching $217.65/sqft. This is only 11% off the all-time February peak of $244.21 in Feb 2006.

Keep in mind that Fountain Hills doesn’t have a lot of monthly sales volume, which means there will be more variance from month to month. That being said, we aren’t too far away from seeing record high pricing in Fountain Hills if prices continue to trend upward.

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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.

 

2018 Sales Volume by City

The chart above is sorted by sales volume. Below, I’ve taken the same chart and sorted the cities alphabetically. You can decide which one works best for you.

AZ 190111 - all cities vol by city.jpg

Phoenix is far and away the leader of the Greater Phoenix Area, with 3-10 times (or more) the number of sales as most other suburbs. Mesa is the 2nd largest suburb, followed by Scottsdale, Gilbert, Chandler, and Glendale.

You’ll notice the East Valley cities typically have more volume than their West Valley counterparts, but there are also more West Valley cities dividing up the land. Overall the sales volume in the East and West Valley is fairly similar.

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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.

 

Luxury Sales Volume is Up

For clarification, let’s first define the Luxury Markets:

  • Homes sold at or above $1,000,000.

  • The cities where these sales makes up about 10% or more of the total market.

Yes - Phoenix, Gilbert, Mesa, Chandler (and possibly Peoria) have more million-dollar sales than Carefree, but those luxury sales are a fraction of a percentage of the overall market. They are not “luxury market cities” - at least not in my opinion, and I’m the one making the chart!

Now that that’s out of the way, we can talk about the chart:

YTD through October, there have been 24% more million-dollar homes sold than last year, and 43% more than 2 years ago. Wow!

Part of this is because prices have been increasing; homes that were in the $900,000-range last year are now being priced at $1,000,000. But part of this is also because more people are willing and able to spend/invest that much money in their house.

I don’t want to sound pessimistic and bearish, but what’s the upward limit on luxury homes in the Greater Phoenix area, and will this rising tide continue to lift all boats?

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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.

 

Fountain Hills looks good in 2018

The Median Sales Price in Fountain Hills was $480,000 through the first 9 months of 2018. That’s up 6.7% year over year and 23% since 2014.

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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.