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 8/18/14 to 8/24/14. 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.
There really isn’t any other way to describe the real estate market in Metro Phoenix right now other than “unexciting”. Inventory is slightly down and buyer demand is also lower than normal. On the bright side, there was an uptick in the number of contracts accepted last week from 157 up to 164. In fact, that was the largest uptick since I started tracking these 12 weeks ago.
The average price per square foot for the listings that are currently pending in Phoenix is still lower than what closed between 8/18/14 and 8/24/14. As you can see in the table below, this is the case only for Phoenix out of all the cities we track. Chandler, Gilbert, Glendale, Mesa, Paradise Valley, Scottsdale and Tempe all have average pending sales at a higher price per square foot than what closed last week.
The table at the bottom of this post breaks down the single family home sales that occurred between 8/18/14-8/24/14 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 | Ratio of SP to LP |
| Chandler | 64 | $130.37 | $282,103 | $289,729 | 75 | 97.37% |
| 85224 | 10 | $130.57 | $206,980 | $210,520 | 67 | 98.32% |
| 85225 | 14 | $127.96 | $198,272 | $201,997 | 41 | 98.16% |
| 85226 | 7 | $125.43 | $266,000 | $276,979 | 47 | 96.04% |
| 85248 | 4 | $140.08 | $304,550 | $317,600 | 65 | 95.89% |
| 85249 | 10 | $124.92 | $312,430 | $317,400 | 106 | 98.43% |
| 85286 | 19 | $134.69 | $368,655 | $380,330 | 101 | 96.93% |
| Gilbert | 72 | $125.10 | $277,361 | $281,513 | 75 | 98.52% |
| 85233 | 10 | $120.45 | $266,290 | $269,155 | 72 | 98.94% |
| 85234 | 13 | $132.13 | $285,985 | $289,027 | 69 | 98.95% |
| 85295 | 8 | $118.10 | $224,463 | $228,287 | 79 | 98.32% |
| 85296 | 15 | $123.76 | $276,779 | $278,787 | 76 | 99.28% |
| 85297 | 17 | $126.14 | $256,816 | $259,716 | 95 | 98.88% |
| 85298 | 9 | $126.66 | $364,000 | $377,421 | 44 | 96.44% |
| Glendale | 65 | $98.89 | $180,992 | $188,009 | 69 | 96.27% |
| 85301 | 9 | $76.95 | $109,790 | $108,611 | 54 | 101.09% |
| 85302 | 7 | $80.45 | $153,714 | $169,000 | 110 | 90.96% |
| 85303 | 10 | $84.65 | $158,625 | $159,990 | 98 | 99.15% |
| 85304 | 8 | $102.14 | $182,850 | $184,596 | 88 | 99.05% |
| 85305 | 4 | $105.07 | $204,500 | $207,350 | 47 | 98.63% |
| 85306 | 3 | $92.92 | $173,000 | $177,900 | 60 | 97.25% |
| 85308 | 14 | $110.83 | $191,179 | $210,257 | 53 | 90.93% |
| 85310 | 10 | $125.82 | $263,780 | $267,670 | 44 | 98.55% |
| Mesa | 97 | $114.44 | $233,600 | $237,295 | 60 | 98.44% |
| 85201 | 5 | $97.85 | $193,200 | $201,860 | 92 | 95.71% |
| 85202 | 4 | $117.74 | $174,950 | $173,175 | 73 | 101.02% |
| 85203 | 6 | $100.30 | $167,417 | $171,800 | 56 | 97.45% |
| 85204 | 6 | $119.22 | $181,417 | $185,033 | 17 | 98.05% |
| 85205 | 10 | $105.51 | $144,810 | $146,989 | 44 | 98.52% |
| 85206 | 3 | $105.46 | $262,217 | $264,050 | 70 | 99.31% |
| 85207 | 16 | $129.81 | $207,475 | $210,213 | 61 | 98.70% |
| 85208 | 8 | $103.48 | $185,434 | $187,337 | 72 | 98.98% |
| 85209 | 16 | $110.57 | $235,744 | $238,456 | 52 | 98.86% |
| 85210 | 3 | $111.67 | $200,666 | $204,866 | 31 | 97.95% |
| 85212 | 10 | $112.89 | $273,440 | $276,310 | 90 | 98.96% |
| 85213 | 8 | $130.40 | $516,094 | $526,063 | 53 | 98.11% |
| 85215 | 2 | $135.52 | $312,750 | $324,500 | 114 | 96.38% |
| Paradise Valley | 2 | $247.28 | $1,312,500 | $1,382,500 | 102 | 94.94% |
| 85253 | 2 | $247.28 | $1,312,500 | $1,382,500 | 102 | 94.94% |
| Phoenix | 242 | $124.65 | $242,186 | $250,188 | 71 | 96.80% |
| 85004 | 1 | $240.46 | $315,000 | $328,000 | 132 | 96.04% |
| 85006 | 4 | $127.70 | $172,500 | $176,375 | 76 | 97.80% |
| 85007 | 1 | $77.19 | $89,000 | $92,500 | 139 | 96.22% |
| 85008 | 4 | $97.31 | $114,275 | $114,075 | 45 | 100.18% |
| 85009 | 2 | $79.57 | $103,250 | $102,500 | 45 | 100.73% |
| 85013 | 6 | $162.02 | $344,150 | $365,400 | 105 | 94.18% |
| 85014 | 4 | $147.27 | $201,188 | $203,725 | 25 | 98.75% |
| 85015 | 4 | $100.61 | $127,918 | $128,494 | 84 | 99.55% |
| 85016 | 7 | $194.24 | $379,357 | $393,700 | 64 | 96.36% |
| 85017 | 3 | $67.65 | $72,383 | $75,500 | 24 | 95.87% |
| 85018 | 10 | $214.35 | $479,132 | $497,770 | 69 | 96.26% |
| 85019 | 3 | $60.78 | $81,333 | $81,633 | 43 | 99.63% |
| 85020 | 3 | $179.18 | $364,967 | $372,967 | 86 | 97.86% |
| 85021 | 4 | $151.07 | $345,400 | $354,700 | 67 | 97.38% |
| 85022 | 6 | $139.50 | $372,200 | $379,600 | 133 | 98.05% |
| 85023 | 8 | $110.19 | $203,938 | $211,925 | 80 | 96.23% |
| 85024 | 4 | $136.64 | $265,875 | $273,612 | 59 | 97.17% |
| 85027 | 10 | $109.30 | $175,390 | $184,000 | 103 | 95.32% |
| 85028 | 11 | $170.12 | $400,423 | $419,123 | 93 | 95.54% |
| 85029 | 10 | $103.40 | $155,990 | $160,760 | 84 | 97.03% |
| 85031 | 4 | $56.89 | $82,350 | $83,225 | 16 | 98.95% |
| 85032 | 16 | $133.04 | $217,663 | $225,044 | 98 | 96.72% |
| 85033 | 4 | $77.39 | $100,170 | $103,625 | 36 | 96.67% |
| 85035 | 4 | $71.85 | $97,428 | $107,428 | 48 | 90.69% |
| 85037 | 12 | $89.56 | $140,408 | $140,333 | 22 | 100.05% |
| 85040 | 5 | $60.24 | $85,300 | $104,858 | 78 | 81.35% |
| 85041 | 12 | $79.81 | $163,900 | $168,558 | 107 | 97.24% |
| 85042 | 5 | $112.16 | $201,719 | $209,739 | 51 | 96.18% |
| 85043 | 7 | $96.03 | $175,211 | $181,686 | 39 | 96.44% |
| 85044 | 7 | $140.50 | $258,486 | $266,144 | 63 | 97.12% |
| 85045 | 5 | $148.44 | $398,000 | $411,340 | 85 | 96.76% |
| 85048 | 7 | $148.47 | $384,643 | $401,529 | 129 | 95.79% |
| 85050 | 10 | $160.98 | $272,673 | $278,130 | 39 | 98.04% |
| 85051 | 8 | $76.68 | $118,738 | $120,213 | 31 | 98.77% |
| 85053 | 7 | $103.05 | $187,929 | $188,514 | 31 | 99.69% |
| 85054 | 1 | $166.45 | $268,000 | $275,000 | 11 | 97.45% |
| 85083 | 9 | $127.59 | $363,833 | $368,689 | 85 | 98.68% |
| 85085 | 10 | $131.55 | $344,350 | $354,770 | 70 | 97.06% |
| 85086 | 4 | $138.64 | $263,313 | $276,391 | 56 | 95.27% |
| Scottsdale | 79 | $198.73 | $582,857 | $606,628 | 106 | 96.08% |
| 85250 | 2 | $185.41 | $341,000 | $367,000 | 135 | 92.92% |
| 85251 | 4 | $192.39 | $493,750 | $528,600 | 51 | 93.41% |
| 85254 | 12 | $167.82 | $391,625 | $405,767 | 95 | 96.51% |
| 85255 | 16 | $233.75 | $765,150 | $799,831 | 151 | 95.66% |
| 85257 | 11 | $155.14 | $259,266 | $260,191 | 44 | 99.64% |
| 85258 | 4 | $208.57 | $486,375 | $504,075 | 83 | 96.49% |
| 85259 | 12 | $206.61 | $681,608 | $713,213 | 110 | 95.57% |
| 85260 | 8 | $182.56 | $488,813 | $502,600 | 65 | 97.26% |
| 85262 | 5 | $262.62 | $1,286,820 | $1,354,400 | 252 | 95.01% |
| 85266 | 5 | $202.27 | $625,100 | $635,800 | 84 | 98.32% |
| Tempe | 24 | $137.51 | $295,745 | $303,926 | 86 | 97.31% |
| 85281 | 6 | $132.63 | $216,417 | $224,767 | 58 | 96.29% |
| 85282 | 7 | $135.12 | $275,414 | $279,843 | 66 | 98.42% |
| 85283 | 6 | $117.25 | $190,233 | $197,867 | 86 | 96.14% |
| 85284 | 5 | $171.02 | $546,017 | $559,905 | 146 | 97.52% |
| Grand Total | 645 | $131.09 | $289,652 | $298,571 | 75 | 97.01% |
*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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