Peoria

Peoria Highlights the Pricing Trends

Sometimes you need to dig deeper to see the details, and Peoria is a perfect case in point.

Last month we saw that prices have been rising in Peoria, although the trend was flattening out. (see Peoria prices are up, and flat.)

When we dig a little further and look at the various zip codes, the trend becomes even more clear:

  • The lower-priced zip code (85345) has continued to increase.

  • The medium-priced zip code (85382) is up a meager 1% YoY.

  • The highest-priced zip code (85383) is actually down a few dollars compared with last year.

  • Note - zip code 85381 was not included in this chart, as there aren’t enough sales to get an accurate representation from a single month’s median price.

This matches some of the overall trends we’ve been seeing in recent months, where some cities have continued to appreciate, while others (including the luxury market) have shown some signs of the appreciation trends weakening.

It might be time to start paying attention to these trends on a neighborhood basis, and advise your clients accordingly…

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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.

 

1st Quarter prices higher in Peoria

The Median Price per Square Foot was $152.19 in Peoria last quarter, up 5.6% YoY compared with $144.36 in Q1 2018, and up 35.7% since Q1 2014.

It’s also nice to see consistent, steady increases rather than large jumps upward - which are often not sustainable. 2017 was the only year with double-digit appreciation; all other years show a modest increase over the previous year.

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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 keep moving higher

The Median Price per Square Foot reached $153.97 in Peoria last month, a 6% increase YoY from last February.

An optimist would see the slope of the chart continuing upward, and would point to the last few years showing strong price appreciation in each of the six-month periods following February. A cynic might notice that last month’s 6% YoY is smaller than the YoY comparison from prior Februaries (7% in 2018 and 11% in 2017.)

Your humble chart marker is looking at the past results and not forecasting future performance, so I’ll simply point them both out.

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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 Median Sales Price for Select Cities

This chart is a recap of the last month’s charts, showing a comparison of the various cities’ median sales prices for 2018. It’s interesting to see the variance among the cities, yet notice that even with all the ups and downs, the difference between the lowest and highest is only $83,500*.

* Not included is Scottsdale, because the $570,000 median sales price there was so high it made the chart much less impactful by comparison.

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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.