Phoenix

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.

 

Phoenix prices reach record high

The median sales price in Phoenix hit $267,000 last month - the highest ever for the month of February and 6% higher than last year’s then-record $252,000.

The housing bubble is easy to see, but it’s also interesting to note the pricing lag. 2005 and early 2006 were the peak years in terms of activity and the market being “red hot”, where any listing at any price would receive multiple offers before lunch on the first day. But even though the market started to cool off in late 2006, the median price continued upward in 2007 and held fast in 2008, before prices crashed in 2009.

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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 - Most Impactful Zip Codes

3 Charts today:

  • Chart 1 shows the zip codes which had the most sales in 2018.

  • Chart 2 shows the zip codes with the highest median sales price in 2018.

  • Chart 3 shows the zip codes with the lowest median sales price in 2018.

Chart 1: Number of Sales by Zip Code

This chart shows 85032 was the busiest zip code in 2018, with 942 sales transactions. It also shows that the top 10 zip codes accounted for 6,834 sales, which is more than every other city in the Valley except Mesa (7,144 sales).


Chart 2: Zip Codes with the highest median sales price

This chart shows 85018 as a highly desirable zip code, with a median sales price of $744,900. It also shows 4 other zip codes with median sales prices above $400,000 (85012, 85054, 85003, and 85016), and all 10 zip codes had median sales prices greater than $350,000.

Zip Codes 85018 and 85050 are also in Chart 1, which means these zip codes are highly desirable and have a lot of sales each year.

Chart 3: Zip Codes with the lowest median sales price

There are a number of zip codes in Phoenix where the median sales price is near to, or below, $200,000. The least expensive zip code in Phoenix is 85009, with a median sales price of $154,000.

Zip code 85037 is also featured in Chart 1, showing there is a lot of sales activity in this zip code with a median sales price of $199,900.

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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.

 

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.