The below graphs, tables and analysis provide a Metro Phoenix Real Estate Market Update for single family home sales in Phoenix, Scottsdale, Paradise Valley, Chandler, Gilbert, Glendale, Mesa and Tempe AZ during the week of 8/11/14 to 8/17/14. This data can give you insight into your home’s value or where you may want to concentrate your home search if you are looking to buy a home in Metro Phoenix. It helps you identify average home values, average price per square foot and how long, on average, homes are taking to sell by zip code in Metro Phoenix, AZ.
The number of accepted contracts declined again this week; illustrating weak buyer demand. But, I am beginning to question something. Is there weak buyer demand in general, or is there just weak buyer demand for what is currently on the market? I ask, because we have held several open houses the last few weeks and have met quite a few of prospective buyers. Their answers have been very similar in that they state they’ve been looking for awhile and just can’t find what they’re looking for. They also continue to say that they feel as though not many homes that they would like have been coming on the market recently.
Something else to notice is that the average price per square foot for the listings that are currently pending in Phoenix is lower than what closed between 8/11/14 and 8/17/14. Indicating that we’ll more than likely see another decline in price per square foot. Pending sales in Paradise Valley and Scottsdale are higher than the closed transactions however.
The table at the bottom of this post breaks down the single family home sales that occurred between 8/11/14-8/17/14 by zip code.
We hope that you find the data in these Phoenix real estate market updates helpful. Please contact us if you are looking to buy or sell a home in metro Phoenix. We would love to help! 602.620.6267
| City/Zip | # of Sales | Avg Price/SqFt | Avg Sold Price | Avg List Price | Avg Days on Market |
| Chandler | 69 | $136.10 | $300,067 | $306,305 | 56 |
| 85224 | 7 | $120.74 | $191,200 | $194,257 | 22 |
| 85225 | 16 | $129.89 | $204,056 | $202,619 | 41 |
| 85226 | 11 | $141.57 | $333,982 | $339,480 | 55 |
| 85248 | 8 | $146.87 | $452,050 | $468,486 | 99 |
| 85249 | 16 | $139.65 | $347,947 | $361,744 | 59 |
| 85286 | 11 | $136.45 | $294,909 | $296,664 | 61 |
| Gilbert | 88 | $130.63 | $290,699 | $300,331 | 66 |
| 85233 | 16 | $137.94 | $258,688 | $265,363 | 42 |
| 85234 | 12 | $117.76 | $259,615 | $277,340 | 74 |
| 85295 | 16 | $123.22 | $286,831 | $291,666 | 68 |
| 85296 | 21 | $129.00 | $248,657 | $257,183 | 39 |
| 85297 | 14 | $132.12 | $302,907 | $311,861 | 81 |
| 85298 | 9 | $149.46 | $475,033 | $491,298 | 130 |
| Glendale | 77 | $111.06 | $210,288 | $214,757 | 60 |
| 85301 | 7 | $76.92 | $128,000 | $130,385 | 42 |
| 85302 | 11 | $93.62 | $150,562 | $154,545 | 95 |
| 85303 | 5 | $86.11 | $168,400 | $175,420 | 59 |
| 85304 | 9 | $104.89 | $158,711 | $163,133 | 65 |
| 85305 | 4 | $106.48 | $215,625 | $221,200 | 37 |
| 85306 | 5 | $110.93 | $165,380 | $168,940 | 100 |
| 85307 | 2 | $99.20 | $131,500 | $128,700 | 43 |
| 85308 | 25 | $134.90 | $283,299 | $288,877 | 45 |
| 85310 | 9 | $115.55 | $259,411 | $263,278 | 58 |
| Mesa | 101 | $112.55 | $217,170 | $220,762 | 58 |
| 85201 | 4 | $85.16 | $155,250 | $158,197 | 88 |
| 85202 | 12 | $121.89 | $204,275 | $204,554 | 35 |
| 85203 | 7 | $95.43 | $218,414 | $220,886 | 55 |
| 85204 | 9 | $100.52 | $159,111 | $163,644 | 23 |
| 85205 | 10 | $117.28 | $241,120 | $246,430 | 54 |
| 85206 | 6 | $114.97 | $205,825 | $208,617 | 73 |
| 85207 | 12 | $118.74 | $230,245 | $233,175 | 76 |
| 85208 | 7 | $105.23 | $155,631 | $157,957 | 37 |
| 85209 | 14 | $115.61 | $226,064 | $230,407 | 48 |
| 85210 | 3 | $120.86 | $188,300 | $184,967 | 73 |
| 85212 | 8 | $111.66 | $294,113 | $293,213 | 113 |
| 85213 | 4 | $106.07 | $231,725 | $254,950 | 69 |
| 85215 | 5 | $133.84 | $278,580 | $284,920 | 64 |
| Paradise Valley | 3 | $236.73 | $866,667 | $943,000 | 104 |
| 85253 | 3 | $236.73 | $866,667 | $943,000 | 104 |
| Phoenix | 256 | $121.44 | $238,449 | $245,018 | 63 |
| 85006 | 3 | $94.74 | $91,500 | $96,500 | 66 |
| 85007 | 2 | $153.48 | $192,250 | $197,450 | 99 |
| 85008 | 3 | $120.06 | $174,667 | $178,000 | 204 |
| 85009 | 4 | $61.70 | $78,000 | $85,035 | 30 |
| 85013 | 5 | $157.25 | $253,144 | $264,960 | 71 |
| 85014 | 4 | $130.87 | $226,250 | $243,000 | 104 |
| 85015 | 5 | $114.66 | $185,400 | $190,800 | 42 |
| 85016 | 7 | $188.25 | $337,524 | $341,057 | 57 |
| 85017 | 5 | $84.02 | $100,160 | $99,800 | 16 |
| 85018 | 6 | $210.44 | $567,483 | $569,967 | 124 |
| 85019 | 3 | $79.59 | $107,400 | $109,133 | 50 |
| 85020 | 6 | $174.95 | $420,500 | $434,815 | 71 |
| 85021 | 4 | $123.81 | $330,013 | $343,475 | 47 |
| 85022 | 12 | $125.85 | $296,917 | $308,704 | 92 |
| 85023 | 7 | $121.02 | $319,529 | $328,129 | 61 |
| 85024 | 7 | $138.85 | $304,286 | $312,957 | 55 |
| 85027 | 7 | $119.84 | $168,343 | $170,814 | 28 |
| 85028 | 7 | $156.52 | $347,000 | $376,900 | 60 |
| 85029 | 8 | $94.15 | $165,063 | $163,622 | 91 |
| 85031 | 1 | $59.32 | $91,000 | $89,900 | 71 |
| 85032 | 18 | $139.17 | $268,939 | $278,274 | 59 |
| 85033 | 6 | $83.59 | $107,500 | $106,074 | 37 |
| 85035 | 7 | $88.65 | $124,657 | $126,929 | 38 |
| 85037 | 15 | $88.12 | $129,109 | $130,790 | 58 |
| 85040 | 2 | $94.37 | $146,450 | $146,450 | 23 |
| 85041 | 19 | $82.26 | $137,359 | $140,188 | 44 |
| 85042 | 14 | $95.85 | $152,104 | $152,597 | 34 |
| 85043 | 3 | $104.76 | $148,993 | $149,767 | 88 |
| 85044 | 6 | $151.63 | $262,800 | $265,633 | 50 |
| 85045 | 2 | $158.61 | $490,500 | $504,450 | 50 |
| 85048 | 10 | $150.61 | $371,150 | $380,000 | 76 |
| 85050 | 8 | $172.08 | $359,275 | $373,413 | 49 |
| 85051 | 8 | $82.42 | $142,300 | $143,775 | 94 |
| 85053 | 6 | $102.66 | $168,483 | $172,783 | 46 |
| 85083 | 12 | $127.09 | $271,817 | $279,158 | 68 |
| 85085 | 6 | $131.79 | $366,483 | $375,417 | 99 |
| 85086 | 8 | $136.15 | $317,538 | $332,113 | 91 |
| Scottsdale | 80 | $209.27 | $605,866 | $621,729 | 89 |
| 85250 | 5 | $193.04 | $342,200 | $342,360 | 72 |
| 85251 | 11 | $211.10 | $592,182 | $609,563 | 36 |
| 85254 | 13 | $189.17 | $435,154 | $450,415 | 73 |
| 85255 | 13 | $214.25 | $621,846 | $633,377 | 128 |
| 85257 | 7 | $156.05 | $256,564 | $269,221 | 60 |
| 85258 | 5 | $257.19 | $810,600 | $855,800 | 70 |
| 85259 | 8 | $196.27 | $586,850 | $606,713 | 88 |
| 85260 | 6 | $196.07 | $576,500 | $603,817 | 170 |
| 85262 | 9 | $273.26 | $1,201,120 | $1,205,878 | 114 |
| 85266 | 3 | $208.38 | $563,493 | $579,663 | 83 |
| Tempe | 34 | $145.33 | $351,085 | $360,737 | 71 |
| 85281 | 2 | $195.17 | $305,000 | $317,400 | 80 |
| 85282 | 10 | $121.76 | $231,389 | $242,340 | 103 |
| 85283 | 11 | $137.66 | $269,182 | $274,436 | 44 |
| 85284 | 11 | $165.35 | $550,182 | $562,550 | 67 |
| Grand Total | 708 | $133.21 | $294,437 | $302,196 | 65 |
*The data analyzed is from the Arizona Regional Multiple Listing Service (ARMLS) for Chandler, Gilbert, Glendale, Mesa, Paradise Valley, Phoenix, Scottsdale and Tempe, Arizona.
Joe Janus & James Plotnik, real estate agents and Realtors® specializing in the buying and selling of Distinctive Homes in Phoenix, Scottsdale and Paradise Valley, Arizona.
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