Sales Volume

Maricopa County Seasonal Sales Volume

The seasonality in the Maricopa County real estate market couldn’t be more obvious, or consistent. Lots of sales in April, May and June; not as many in December, January and February.

The highs have risen slightly higher each year, but the lows have gotten lower as well. Overall volume per year has remained relatively level over the last 3 years: up slightly in 2017 and then flat in 2018 and 2019 YTD.

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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.

 

More Homes Selling in Surprise

Sometimes the sales volume trend can be hard to see - the seasonality trend is obvious, but the overall trend gets hidden a little bit. But if you look at the April numbers, we can see 316 homes sold in April ‘16, then we were in the 330s in April ‘17 and April ‘18, before hitting 383 last month.

That’s approximately 20% more homes sold than 3 years ago, and more homes selling generally means more demand, which generally puts upward pressure on pricing. This is good news for Surprise.

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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.

 

Number of Luxury Sales Down in 1st Qtr

This chart is interesting on a number of fronts:

  • Million-dollar home sales were down in the first quarter compared with Q1 2018. This is not a good sign for the luxury market, especially since we are looking at quarterly figures - which usually show less variance than monthly numbers, so this is less likely to just be a “blip.”

  • A couple months ago I showed a chart (stepping up to luxury) that compared annual numbers, and 2018 had the highest luxury volume ever, followed closely by 2005 and then 2006. Yet when comparing sales in the 1st quarter, 2006 was the highest (by 10%), followed by 2007, 2018, and 2019, before finally getting to 2005. This shows how much things can change in the 9 months following any given quarter. (ie: we all know how 2005-2006 bubble ended…)

  • 2 major factors can affect the number of luxury sales: 1) The number of high net worth people wanting to buy homes in Maricopa County, and 2) The pricing movement of the existing homes for sale. If homes are trending from $975,000 towards $1,025,000, then we’ll have more luxury sales. The reverse is also true.

We’ll check back on the luxury market in a couple months to see if this trend continues.

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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.

 

Large Lot Sizes in Paradise Valley

When we look at a typical suburban house - most neighborhoods from Scottsdale to Goodyear and Surprise to Gilbert - we tend to think any home with a 10,000 sqft lot has plenty of space. “HA!”, says Paradise Valley - where only 8% of all homes sold in the last 4 years had lots that tiny.

More than 60% of the homes sold in Paradise Valley sat on lots larger than 1 acre. A full 85% were larger than a half-acre.

Captain Obvious would point out “Luxury requires space. And money.”

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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.