Phoenix

Phoenix pricing continues trend in 2nd Qtr

The Median Sales Price for the 2nd Quarter was $277,000 in Phoenix, up slightly YoY from $269,000 in Q2 2018. But Q2 ’18 capped a strong run where prices were up 17% over 18 months from Q4 ’16. It makes sense that the market can cool off a little bit while still having an upward trend (green line).

However, it also appears that most of the price appreciation occurs between Q1 and Q2. (that 18-month run last year was the exception.) If this trend holds true, we won’t see prices increase much until 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.

 

Phoenix Prices up 2% YoY

The Median Sales Price in Phoenix was $279,000 last month, up 1.9% from $273,808 in May ‘18. While still an upward trend year over year, it’s a far cry from last year’s 13% increase. The bear in me is seeing a slowdown unfolding in front of our eyes.

An optimist, however, would point out that prices are up 15% over the last 2 years and 18% over the last 3 years, which is appreciation at a pretty brisk clip.

Time will tell whether the current glass is half empty or half full. I’ll be keeping my eye on the trends, and hoping there’s some bourbon in the glass..!

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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.

 

Phoenix prices still trending upward

The Median Price per Square Foot in Phoenix is up 6% YoY in April, to $164.35/sqft from $153.98/sqft in April ‘18.

The positive trend can be seen:

  1. Overall - the chart is rising consistently from left to right.

  2. April vs April - the 3 darker blue bars show an increase of about $10/sqft per year.

  3. Trending - We can see each April caps a relatively flat 3-month cycle, before prices surge forward again in the summer months.

If the trend holds, we should see a jump in the May number…

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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.

 

Phoenix Median Sales Price was $295,750 in April

The Median Sales Price in Phoenix was $295,750 in April, up 5.6% YoY from April 2018.

The monthly chart shows a continued upward trend, with the same seasonal pattern repeating year after year while the prices continue to climb. However, April’s median price was higher than the March number in 2015, 2016, and 2017, before being flat in 2018 and slightly lower this year. This continues the narrative we started seeing last month - the market isn’t weak, per se, but it doesn’t seem to be as strong as the last couple-few years right now.

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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.

 

Phoenix Prices Recover in Q1

The Phoenix chart clearly shows long-term price appreciation, but when I looked at this trend in January I pointed out a concern about how much prices had fallen in the 2nd half of 2018 (more than the prior years), and that prices at the end of the year were barely higher than the beginning of the year. (Revisit that post here.)

Well, prices have rebounded nicely since then, and we’re just now getting into the spring price-appreciation season. Hopefully the 2nd half of last year was just a blip in the 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.