Whether you are listing and selling your Metro Phoenix home or looking to buy, it is important to consider what is going on in the real estate market, as it is the biggest influencer on a home’s value. All of the data may be overwhelming, but we are here to help guide you through it!
The Metro Phoenix* real estate market has certainly slowed down compared to last year. There were 529 fewer home sales in April 2014 as compared to April 2013. On average, houses were also on the market 14 days longer. On the plus side, price per square foot increased 10.51% and the average sales price increased 10.94%. One can therefore deduce that home values increased approximately 10-11% in the last year. However, this is not expected to continue for 2014, in fact, home values are expected to keep pace with inflation.
Of interesting note is Paradise Valley. In Paradise Valley the number of home sales actually increased while the price per square foot increased 6.21%, and the average sale price decreased (93.96% of April 2013 levels). This implies that smaller homes are selling.
In Phoenix proper 234 less homes sold in April 2014 as compared to April 2013. In Scottsdale 149 fewer homes sold.
Fountain Hills and Glendale saw the largest gain in price per square foot at 14.88% and 14.52% respectively. Paradise Valley saw the smallest increase at 6.21%.
Comparing actual sale prices to original list prices we see that there is a wider gap today verses April 2013. For example, last year in Phoenix homes sold on average at 95.74% of original list price. In April 2014 the average was 93.71%. For Scottsdale it was 92.89% last year and 91.50% this year. Paradise Valley actually did better this year at 89.61%, up from 86.41% in April 2013.
The table below contains a breakdown of the housing sales for April 2014:
| City/Zip | # of Sales | Average Price/SqFt | Average Sold Price | Average Original List Price | Average Days on Market |
| Chandler | 419 | $131.30 | $261,126 | $274,857 | 58 |
| 85224 Zip Code | 60 | $126.45 | $196,123 | $206,130 | 45 |
| 85225 Zip Code | 113 | $120.35 | $199,888 | $208,254 | 48 |
| 85226 Zip Code | 61 | $136.19 | $259,852 | $276,328 | 56 |
| 85248 Zip Code | 32 | $155.42 | $331,899 | $350,264 | 75 |
| 85249 Zip Code | 83 | $131.90 | $324,519 | $344,827 | 78 |
| 85286 Zip Code | 70 | $137.19 | $309,290 | $322,562 | 54 |
| Fountain Hills | 98 | $183.63 | $415,088 | $458,214 | 125 |
| 85268 Zip Code | 98 | $183.63 | $415,088 | $458,214 | 125 |
| Gilbert | 423 | $127.17 | $270,208 | $283,231 | 59 |
| 85233 Zip Code | 59 | $125.70 | $229,471 | $239,774 | 58 |
| 85234 Zip Code | 83 | $127.37 | $258,922 | $270,635 | 55 |
| 85295 Zip Code | 73 | $118.73 | $243,345 | $253,314 | 51 |
| 85296 Zip Code | 84 | $126.51 | $276,667 | $290,801 | 60 |
| 85297 Zip Code | 65 | $126.21 | $284,362 | $298,833 | 58 |
| 85298 Zip Code | 59 | $140.84 | $335,267 | $353,458 | 79 |
| Glendale | 350 | $100.88 | $187,676 | $193,527 | 64 |
| 85301 Zip Code | 50 | $67.48 | $98,841 | $104,178 | 65 |
| 85302 Zip Code | 40 | $87.57 | $150,673 | $151,050 | 53 |
| 85303 Zip Code | 34 | $90.44 | $146,269 | $150,557 | 57 |
| 85304 Zip Code | 32 | $97.19 | $185,984 | $201,838 | 73 |
| 85305 Zip Code | 11 | $100.60 | $256,500 | $259,672 | 59 |
| 85306 Zip Code | 33 | $90.94 | $148,330 | $159,415 | 56 |
| 85307 Zip Code | 12 | $143.52 | $258,208 | $158,521 | 60 |
| 85308 Zip Code | 115 | $118.31 | $238,907 | $253,027 | 74 |
| 85310 Zip Code | 23 | $124.04 | $239,291 | $251,674 | 44 |
| Paradise Valley | 45 | $303.18 | $1,357,764 | $1,515,229 | 143 |
| 85253 Zip Code | 45 | $303.18 | $1,357,764 | $1,515,229 | 143 |
| Phoenix | 1765 | $117.96 | $215,647 | $230,113 | 69 |
| 85003 Zip Code | 10 | $210.33 | $353,550 | $383,270 | 84 |
| 85004 Zip Code | 11 | $184.83 | $236,455 | $219,293 | 141 |
| 85006 Zip Code | 20 | $130.69 | $172,766 | $187,425 | 70 |
| 85007 Zip Code | 10 | $130.13 | $222,230 | $237,865 | 70 |
| 85008 Zip Code | 33 | $105.39 | $151,777 | $164,602 | 68 |
| 85009 Zip Code | 29 | $64.86 | $86,410 | $98,503 | 74 |
| 85012 Zip Code | 15 | $184.97 | $370,851 | $381,340 | 78 |
| 85013 Zip Code | 32 | $144.88 | $235,394 | $253,737 | 55 |
| 85014 Zip Code | 39 | $131.11 | $196,548 | $210,697 | 59 |
| 85015 Zip Code | 51 | $92.48 | $128,573 | $137,146 | 69 |
| 85016 Zip Code | 67 | $175.98 | $313,501 | $359,362 | 91 |
| 85017 Zip Code | 20 | $55.84 | $72,431 | $80,260 | 84 |
| 85018 Zip Code | 49 | $195.53 | $501,087 | $579,390 | 96 |
| 85019 Zip Code | 33 | $63.95 | $99,609 | $104,542 | 48 |
| 85020 Zip Code | 58 | $140.27 | $293,416 | $317,934 | 63 |
| 85021 Zip Code | 27 | $107.05 | $204,589 | $231,106 | 59 |
| 85022 Zip Code | 88 | $136.02 | $234,194 | $223,217 | 71 |
| 85023 Zip Code | 38 | $115.20 | $216,418 | $231,424 | 84 |
| 85024 Zip Code | 42 | $137.91 | $233,404 | $246,031 | 53 |
| 85027 Zip Code | 53 | $102.88 | $144,977 | $147,975 | 37 |
| 85028 Zip Code | 37 | $167.57 | $326,229 | $330,478 | 67 |
| 85029 Zip Code | 54 | $88.66 | $142,936 | $156,122 | 68 |
| 85031 Zip Code | 27 | $58.99 | $86,616 | $89,463 | 60 |
| 85032 Zip Code | 115 | $124.54 | $222,935 | $239,654 | 62 |
| 85033 Zip Code | 61 | $73.66 | $100,873 | $115,834 | 86 |
| 85035 Zip Code | 33 | $71.84 | $102,115 | $107,824 | 65 |
| 85037 Zip Code | 55 | $81.69 | $123,785 | $130,808 | 58 |
| 85040 Zip Code | 45 | $66.81 | $86,961 | $90,762 | 62 |
| 85041 Zip Code | 67 | $82.96 | $155,415 | $164,482 | 78 |
| 85042 Zip Code | 63 | $101.28 | $176,683 | $185,772 | 77 |
| 85043 Zip Code | 35 | $83.53 | $137,594 | $144,274 | 44 |
| 85044 Zip Code | 57 | $140.19 | $222,869 | $228,536 | 55 |
| 85045 Zip Code | 16 | $142.15 | $320,306 | $338,894 | 82 |
| 85048 Zip Code | 77 | $146.13 | $310,141 | $329,157 | 75 |
| 85050 Zip Code | 54 | $154.57 | $316,986 | $334,806 | 57 |
| 85051 Zip Code | 62 | $73.74 | $120,756 | $126,368 | 56 |
| 85053 Zip Code | 41 | $93.56 | $150,480 | $158,177 | 59 |
| 85054 Zip Code | 11 | $199.34 | $316,277 | $331,655 | 107 |
| 85083 Zip Code | 42 | $136.29 | $355,181 | $374,599 | 78 |
| 85085 Zip Code | 35 | $127.32 | $339,909 | $358,886 | 65 |
| 85086 Zip Code | 53 | $138.61 | $333,372 | $361,809 | 103 |
| Scottsdale | 694 | $204.41 | $540,108 | $590,295 | 95 |
| 85250 Zip Code | 56 | $161.92 | $266,350 | $297,854 | 76 |
| 85251 Zip Code | 111 | $169.71 | $270,836 | $290,840 | 84 |
| 85253 Zip Code | 4 | $193.92 | $266,750 | $305,475 | 190 |
| 85254 Zip Code | 69 | $186.33 | $410,430 | $445,801 | 71 |
| 85255 Zip Code | 125 | $257.28 | $881,819 | $967,984 | 97 |
| 85257 Zip Code | 39 | $135.58 | $204,354 | $215,309 | 77 |
| 85258 Zip Code | 73 | $212.57 | $473,283 | $526,320 | 90 |
| 85259 Zip Code | 46 | $214.82 | $788,026 | $839,405 | 139 |
| 85260 Zip Code | 80 | $189.37 | $424,874 | $443,949 | 88 |
| 85262 Zip Code | 59 | $242.75 | $868,571 | $984,224 | 158 |
| 85266 Zip Code | 32 | $249.58 | $819,937 | $897,050 | 71 |
| Tempe | 172 | $130.67 | $221,377 | $234,625 | 63 |
| 85281 Zip Code | 48 | $134.33 | $177,362 | $192,922 | 62 |
| 85282 Zip Code | 56 | $116.86 | $174,188 | $180,631 | 61 |
| 85283 Zip Code | 37 | $125.08 | $198,119 | $212,009 | 78 |
| 85284 Zip Code | 31 | $156.62 | $402,532 | $423,726 | 48 |
| Grand Total | 3966 | $138.30 | $298,715 | $320,718 | 73 |
*The data analyzed is from the Arizona Regional Multiple Listing Service (ARMLS) for Chandler, Fountain Hills, Gilbert, Glendale, 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. This analysis does NOT include Mesa, AZ.
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