Fountain Hills Pricing nearing peak levels

The Median Price per Square Foot was up 7% YoY in Fountain Hills in February, reaching $217.65/sqft. This is only 11% off the all-time February peak of $244.21 in Feb 2006.

Keep in mind that Fountain Hills doesn’t have a lot of monthly sales volume, which means there will be more variance from month to month. That being said, we aren’t too far away from seeing record high pricing in Fountain Hills if prices continue to trend upward.

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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.

 

Mixed Signals in Glendale

Looking at the Median Sales Price monthly history in Glendale, and two things jump out at me:

  1. The chart slopes upwards from left to right, with the prices clearly increasing year after year. Feb ‘19 was up 10.9% YoY from Feb ‘18, which is a very large increase. We can also see that each February the median price has been higher than the prior year’s, so there’s no question which direction the number is trending.

  2. The highest median sales price in the chart was $259,900 in May ‘18. The chart shows plenty of zig-zags up and down along the way, but each time a new peak is reached, it is usually surpassed again within a couple-few months. The fact that the current peak was 10 months ago is a little disconcerting. Has the market begun losing steam?

I will be keeping my eye on Glendale in the 2nd quarter to see which observation turns out to be more accurate.

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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 Prices Surge Higher

February to February to February, the Median Sales Price in Buckeye seems to rise about $20,000.

While nice and consistent, $20,000 per year becomes a smaller percentage each year, although not too many homeowners would argue with this year’s 9% YoY figure, or even next year’s 8% - if our $20,000 per year increase holds true again.

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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.

 

Last 4 Years have been good in Surprise

Buying in Surprise in 2014 would have been a good investment, as the median sales price is up almost 45% over the last 4 years. The median sales price was $260,000 in Feb ‘19, up 3% YoY from $252,500 in Feb ‘18, and 21% from $215,000 in Feb ‘17.

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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.