West Valley

Size Matters in Peoria

Earlier in the summer we looked at Peoria, and how different the pricing was for each of the zip codes (Peoria Highlights the Pricing Trend). The chart showed how homes in 85383 in North Peoria were much more expensive than homes in 85381 in South Peoria, while homes in 85382 (in the middle) were priced in the middle.

Based on that information, I was surprised to see how closely the $/sqft numbers are bunched together. Yes, 85381 is usually the lowest priced, but not always. And the other two seem to flip-flop every other month. But by and large, all 3 zip codes’ pricing tends to stay within about $10/sqft of each other.

This means the primary driver for the differing prices between the zip codes must be the size of the houses: the south end of the city has smaller (and older) homes, while the north end of the city has more large (and newer) homes.

I wonder if this pricing idiosyncrasy appears in other parts of the Valley? I’ll look into it in the coming months…

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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.

 

West Valley Prices mostly increasing

Prices are up across the West Valley when comparing July ‘19 with July ‘18, except for Litchfield Park - which surprisingly showed a $21,400 decrease in the median sales price YoY. This might be a statistical fluctuation due to the smaller sales volume - I will run a more detailed report for Litchfield Park next month when August numbers are available, and maybe again once we reach the end of the 3rd Quarter.

In the meantime, we have shown this week that prices have risen across (just about) the entire Valley compared to last 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 are up Year over Year

The Median Sales Price in Peoria was $316,000 in the 2nd Qtr this year, up almost 7% compared with Q2 2018 and a robust 38% over the last 5 years.

Although we have seen some signs of pricing weakness lately - mostly at the higher end of the pricing scale, the big-term picture shows pricing has held strong over the last several years.

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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.

 

Buckeye turns in strong 2nd quarter

The Median Sales Price in Buckeye reached $240,000 in the 2nd Qtr 2019, up 9% YoY from 2018’s $220,706 in the same period, and up 20% over the last 2 years (since the $200,000 median sales price in Q2 2017.)

The trend in Buckeye is very similar to what we saw in Gilbert last week: looking at longer time periods (quarterly vs monthly numbers) over a longer time horizon (going back to 2015 or further) shows a very positive pricing 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.

 

2nd Quarter shows strength in Surprise

After a relatively anemic first quarter (see Surprise pricing pauses upward trend), prices shot higher again in the 2nd quarter, with the median sales price in Surprise reaching $267,000 in Q2 ‘19.

Comparing the 2nd Quarter YoY against the same time period in prior years, the median sales price has increased approximately $12,000, $20,000, and $17,000 in the last three years.. Not too shabby.

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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.