Phoenix Area Real Estate Market Update: 3/9/15 – 3/15/15
Median and Average sold prices in the Phoenix area during 3/9/15 to 3/15/15:
- Phoenix: The median sales price for 275 single family homes that sold in Phoenix was $196,800 and the average was $236,962. Average days on market was 92.28.
- Scottsdale: The median sales price for 75 single family homes that sold in Scottsdale was $438,400 and the average was $567,661. Average days on market was 95.67
- Paradise Valley: The median and average sales price for the two single family homes that sold in Paradise Valley was $1,260,000. Average days on market was 125.67.
Currently active listing data:
- Phoenix: 3.27 months of inventory; 3,957 homes currently for sale in Phoenix – median list price: $285,000 ; average days on market: 90.16.
- Scottsdale: 7.85 months of inventory; 2,639 homes currently for sale in Scottsdale – median list price: $785,000 ; average days on market: 135.13.
- Paradise Valley: 16.07 months of inventory; 434 homes currently for sale in Paradise Valley – median list price: $2,062,500 ; average days on market: 191.
The graph below paints an interesting picture (if you click on it, it will get bigger). It illustrates how many months of inventory are available per price range. For example, it will take approximately 5.75 months for all of the single family homes that are currently on the market in the $325,000 to $349,999 range to sell out. As you can see, lower priced homes sell quicker while as you move up in price point homes take longer to sell. If you currently have your home listed and it is languishing on the market longer than the absorption rate for your price range; you may want to have a discussion with your agent about modifying your selling strategy.
The table below and analysis above provide a Metro Phoenix Real Estate Market Update for single family home sales in Avondale, Chandler, Gilbert, Glendale, Goodyear, Mesa, Paradise Valley, Phoenix, Scottsdale, and Tempe, AZ during the week of 3/9/15 to 3/15/15. This 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.
| City/Zip | # of Sales | Avg Price/SqFt | Avg Sold Price | Avg List Price | Avg Days on Market | Ratio of SP to LP |
| Avondale | 30 | $95.03 | $168,620 | $170,913 | 58.20 | 98.66% |
| 85323 | 14 | $85.43 | $146,063 | $148,100 | 72.64 | 98.62% |
| 85392 | 16 | $103.43 | $188,356 | $190,874 | 45.56 | 98.68% |
| Chandler | 74 | $136.34 | $341,369 | $352,552 | 84.16 | 96.83% |
| 85224 | 10 | $116.03 | $205,762 | $210,770 | 90.40 | 97.62% |
| 85225 | 14 | $123.91 | $252,329 | $258,056 | 73.57 | 97.78% |
| 85226 | 9 | $141.15 | $275,156 | $282,500 | 69.22 | 97.40% |
| 85248 | 6 | $173.51 | $595,483 | $632,150 | 94.50 | 94.20% |
| 85249 | 19 | $139.42 | $394,521 | $404,991 | 85.16 | 97.41% |
| 85286 | 16 | $139.60 | $382,869 | $396,134 | 92.88 | 96.65% |
| Gilbert | 78 | $127.29 | $286,778 | $293,562 | 84.77 | 97.69% |
| 85233 | 10 | $132.22 | $280,180 | $286,354 | 38.20 | 97.84% |
| 85234 | 14 | $134.81 | $281,362 | $283,836 | 83.29 | 99.13% |
| 85295 | 10 | $118.71 | $253,100 | $260,030 | 74.90 | 97.34% |
| 85296 | 16 | $118.01 | $258,160 | $260,813 | 85.25 | 98.98% |
| 85297 | 11 | $124.41 | $293,945 | $299,145 | 71.73 | 98.26% |
| 85298 | 17 | $133.84 | $337,227 | $352,745 | 127.18 | 95.60% |
| Glendale | 55 | $110.18 | $192,213 | $196,068 | 74.69 | 98.03% |
| 85301 | 4 | $75.75 | $104,875 | $114,963 | 83.75 | 91.23% |
| 85302 | 7 | $96.59 | $139,786 | $140,925 | 79.29 | 99.19% |
| 85303 | 7 | $92.50 | $195,571 | $197,414 | 134.00 | 99.07% |
| 85304 | 10 | $104.33 | $168,290 | $169,080 | 42.30 | 99.53% |
| 85305 | 2 | $109.42 | $202,750 | $206,950 | 21.00 | 97.97% |
| 85306 | 4 | $112.00 | $188,571 | $188,446 | 128.75 | 100.07% |
| 85308 | 14 | $128.73 | $220,966 | $227,229 | 59.21 | 97.24% |
| 85310 | 7 | $131.60 | $266,929 | $273,693 | 67.29 | 97.53% |
| Goodyear | 31 | $104.07 | $208,734 | $213,996 | 94.35 | 97.54% |
| 85338 | 22 | $96.01 | $187,058 | $188,959 | 89.68 | 98.99% |
| 85395 | 9 | $123.78 | $261,721 | $275,199 | 105.78 | 95.10% |
| Mesa | 117 | $128.12 | $257,504 | $261,702 | 78.21 | 98.40% |
| 85201 | 5 | $112.65 | $136,980 | $135,480 | 17.20 | 101.11% |
| 85202 | 6 | $113.69 | $202,067 | $203,600 | 60.50 | 99.25% |
| 85203 | 3 | $109.88 | $245,000 | $246,333 | 131.67 | 99.46% |
| 85204 | 10 | $114.01 | $184,940 | $186,970 | 42.10 | 98.91% |
| 85205 | 11 | $123.04 | $217,827 | $218,218 | 66.27 | 99.82% |
| 85206 | 10 | $129.55 | $221,870 | $229,510 | 88.00 | 96.67% |
| 85207 | 21 | $157.02 | $387,569 | $396,962 | 127.38 | 97.63% |
| 85208 | 10 | $113.27 | $171,640 | $171,310 | 44.30 | 100.19% |
| 85209 | 9 | $120.06 | $266,211 | $270,622 | 85.11 | 98.37% |
| 85210 | 5 | $118.35 | $164,040 | $164,534 | 47.20 | 99.70% |
| 85212 | 14 | $116.73 | $247,416 | $254,609 | 90.93 | 97.18% |
| 85213 | 7 | $129.07 | $366,671 | $367,414 | 88.57 | 99.80% |
| 85215 | 6 | $164.26 | $321,583 | $328,650 | 44.00 | 97.85% |
| Paradise Valley | 9 | $319.46 | $1,530,889 | $1,624,444 | 125.67 | 94.24% |
| 85253 | 9 | $319.46 | $1,530,889 | $1,624,444 | 125.67 | 94.24% |
| Phoenix | 275 | $122.43 | $236,962 | $244,258 | 92.28 | 97.01% |
| 85003 | 3 | $176.87 | $231,633 | $240,000 | 17.33 | 96.51% |
| 85006 | 6 | $128.18 | $161,761 | $173,583 | 139.67 | 93.19% |
| 85007 | 2 | $119.82 | $122,159 | $124,609 | 205.00 | 98.03% |
| 85008 | 3 | $115.52 | $149,333 | $149,800 | 47.00 | 99.69% |
| 85009 | 5 | $82.99 | $114,800 | $119,260 | 92.00 | 96.26% |
| 85012 | 2 | $235.32 | $412,500 | $435,000 | 20.50 | 94.83% |
| 85013 | 4 | $152.73 | $251,100 | $254,350 | 55.75 | 98.72% |
| 85014 | 2 | $129.24 | $213,500 | $243,450 | 105.00 | 87.70% |
| 85015 | 6 | $100.14 | $143,000 | $147,383 | 84.67 | 97.03% |
| 85016 | 10 | $203.30 | $395,096 | $422,690 | 85.00 | 93.47% |
| 85017 | 9 | $77.09 | $106,044 | $106,667 | 120.22 | 99.42% |
| 85018 | 7 | $207.09 | $842,541 | $919,757 | 461.71 | 91.60% |
| 85019 | 8 | $79.51 | $128,113 | $130,200 | 62.25 | 98.40% |
| 85020 | 8 | $129.24 | $235,438 | $241,225 | 102.63 | 97.60% |
| 85021 | 5 | $149.02 | $332,776 | $338,860 | 74.00 | 98.20% |
| 85022 | 12 | $128.68 | $245,601 | $252,009 | 88.50 | 97.46% |
| 85023 | 6 | $112.94 | $279,617 | $288,983 | 127.17 | 96.76% |
| 85024 | 5 | $145.89 | $231,580 | $233,120 | 98.40 | 99.34% |
| 85027 | 12 | $115.53 | $182,606 | $182,425 | 56.92 | 100.10% |
| 85028 | 6 | $157.74 | $300,833 | $310,592 | 109.17 | 96.86% |
| 85029 | 4 | $113.70 | $219,850 | $215,600 | 89.25 | 101.97% |
| 85031 | 6 | $77.02 | $106,408 | $104,967 | 32.33 | 101.37% |
| 85032 | 16 | $144.34 | $241,863 | $249,675 | 64.75 | 96.87% |
| 85033 | 7 | $84.49 | $106,857 | $111,670 | 121.43 | 95.69% |
| 85035 | 8 | $88.11 | $101,636 | $103,237 | 67.75 | 98.45% |
| 85037 | 13 | $87.66 | $142,777 | $143,446 | 77.54 | 99.53% |
| 85040 | 3 | $90.54 | $117,300 | $116,933 | 42.00 | 100.31% |
| 85041 | 11 | $83.48 | $167,643 | $169,157 | 105.45 | 99.11% |
| 85042 | 11 | $96.85 | $187,009 | $194,154 | 90.09 | 96.32% |
| 85043 | 7 | $85.77 | $135,479 | $137,857 | 94.00 | 98.27% |
| 85044 | 8 | $134.95 | $244,375 | $249,850 | 83.00 | 97.81% |
| 85048 | 3 | $150.84 | $406,000 | $419,467 | 92.33 | 96.79% |
| 85050 | 17 | $159.16 | $363,971 | $370,800 | 83.35 | 98.16% |
| 85051 | 5 | $100.00 | $149,180 | $149,240 | 40.80 | 99.96% |
| 85053 | 9 | $112.77 | $201,322 | $205,400 | 73.11 | 98.01% |
| 85083 | 7 | $132.36 | $255,700 | $258,514 | 88.00 | 98.91% |
| 85085 | 11 | $124.89 | $280,127 | $283,200 | 45.27 | 98.91% |
| 85086 | 8 | $132.95 | $395,988 | $404,588 | 91.13 | 97.87% |
| Scottsdale | 75 | $204.49 | $567,661 | $595,655 | 95.67 | 95.30% |
| 85250 | 2 | $239.09 | $501,500 | $507,500 | 204.00 | 98.82% |
| 85251 | 6 | $225.15 | $381,667 | $383,967 | 52.67 | 99.40% |
| 85254 | 19 | $162.26 | $413,918 | $445,526 | 78.16 | 92.91% |
| 85255 | 21 | $231.53 | $736,524 | $766,462 | 106.57 | 96.09% |
| 85257 | 9 | $154.59 | $255,878 | $265,817 | 73.67 | 96.26% |
| 85258 | 3 | $202.93 | $644,997 | $669,633 | 140.67 | 96.32% |
| 85259 | 3 | $207.93 | $555,667 | $569,000 | 147.00 | 97.66% |
| 85260 | 5 | $200.22 | $575,000 | $622,880 | 164.60 | 92.31% |
| 85262 | 5 | $273.25 | $1,039,050 | $1,099,400 | 51.00 | 94.51% |
| 85266 | 2 | $285.54 | $987,500 | $1,037,500 | 62.00 | 95.18% |
| Tempe | 19 | $144.37 | $336,946 | $345,376 | 66.79 | 97.56% |
| 85281 | 2 | $134.73 | $216,000 | $219,025 | 85.50 | 98.62% |
| 85282 | 7 | $141.81 | $258,771 | $263,971 | 63.29 | 98.03% |
| 85283 | 4 | $128.62 | $283,250 | $287,975 | 21.00 | 98.36% |
| 85284 | 6 | $161.07 | $504,263 | $520,732 | 95.17 | 96.84% |
| Grand Total | 763 | $133.39 | $298,530 | $308,228 | 86.13 | 96.85% |
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
*The data analyzed is from the Arizona Regional Multiple Listing Service (ARMLS).
The Joe Janus Real Estate – Trusted Real Estate Professionals Helping You Live You in Phoenix, Scottsdale and Paradise Valley, Arizona | info@joejanus.com | 602.620.6267
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