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Below is a summary of February 2007 Phoenix, Arizona housing market statistics and homes sales information for Greater Phoenix:
 1. Resale Listings
a. The number of Phoenix resale home listings turned up again, reversing the downward pattern of the last three months of 2006. The numbers of Greater Phoenix homes listed for sale has been increasing for the past 19 months; however this month did not set a new record. The count continues to remain abnormally high at 46,798.
2. Resale Sales
a. Phoenix r esale homes sales volume is down from January of last year b y 868 (January 2006 was slightly inflated by speculator activity) and down 2,243 sales from January 2005 (the January 2005 figure was very inflated by speculator activity).
b. Resale home sales volume is down 729 from January 2004.
c. Resale home sales volume is down 371 from January 2003 (this is one of the three numbers that has the most significance in this entire report).
3. Resale Sales Price
a. The median sales price remained constant at $250,000 keeping it at the same level as June 2005. The appreciation rate for the last sixteen months (September to present) is a negative 2.9% on an annualized basis.
4. New Home Market
a. This month the number of New Home specs declined 303 from the January count to 4,204. The record level was in October 2006 at 4,692. Prior to February 2006 the record was 2,400 homes .
b. The number of new home subdivisions moved down one to 965 (the largest number every recorded prior to 2006 was 813 in May 2003).
The Phoenix real estate market appears to be reaching a level of stability in available inventory. However, the real question is what will it take to get that inventory level back into a normal range for our market. That level is currently holding at between 60% - 70% above the level that has historically been healthy for our market.
4th Quarter 2006 Greater Phoenix Housing Market Statistics
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*** beside a column heading means the % change of the current quarter compared to the same quarter a year ago.
| |
Avg. Price |
Price
Change *** |
Total #
Homes Sold (Quarter) |
% Change in
# Homes Sold *** |
Avg. Days
on Market |
% of
Asking Price |
| Anthem |
|
|
|
|
|
|
| 85086 |
$401,000.00
|
-13.24% |
181 |
-45.65% |
97 |
97.10% |
| Apache
Junction |
|
|
|
|
|
|
| 85218 |
$324,900
|
-8.53% |
53 |
-45.92% |
95 |
95.00% |
| 85219 |
$251,000
|
-8.43% |
57 |
-40.00% |
65 |
94.50% |
| 85220 |
$174,700
|
-1.36% |
88 |
-44.30% |
71 |
97.50% |
| Arizona
City |
|
|
|
|
|
|
| 85223 |
$156,900
|
-2.30% |
71 |
-48.92% |
89 |
100.20% |
| Avondale |
|
|
|
|
|
|
| 85323 |
$266,600
|
-3.75% |
343 |
-29.28% |
80 |
98.40% |
| Buckeye |
|
|
|
|
|
|
| 85326 |
$273,500
|
-1.01% |
207 |
-4.61% |
76 |
97.80% |
| Carefree |
|
|
|
|
|
|
| 85377 |
$805,800
|
-8.82% |
15 |
-31.82% |
78 |
94.30% |
| Casa
Grande |
|
|
|
|
|
|
| 85222 |
$195,400
|
-0.66% |
176 |
-22.81% |
72 |
96.10% |
| Cave
Creek |
|
|
|
|
|
|
| 85331 |
$531,400
|
-11.61% |
143 |
-18.75% |
87 |
95.20% |
| Chandler |
|
|
|
|
|
|
| 85224 |
$259,500
|
-8.88% |
145 |
-31.92% |
58 |
97.00% |
| 85225 |
$256,400
|
-0.47% |
277 |
-37.47% |
63 |
98.00% |
| 85226 |
$308,900
|
-2.46% |
144 |
-34.55% |
71 |
96.70% |
| 85248 |
$401,200
|
4.18% |
238 |
-23.47% |
82 |
96.60% |
| 85249 |
$427,400
|
3.94% |
307 |
-12.29% |
76 |
96.60% |
| Coolidge |
|
|
|
|
|
|
| 85228 |
$141,600
|
-11.00% |
27 |
-55.74% |
74 |
96.70% |
| El
Mirage |
|
|
|
|
|
|
| 85335 |
$209,200
|
-9.79% |
157 |
-43.12% |
70 |
99.50% |
| Florence |
|
|
|
|
|
|
| 85232 |
$193,600
|
9.50% |
58 |
11.54% |
72 |
96.60% |
| Fountain
Hills |
|
|
|
|
|
|
| 85268 |
$602,100
|
9.69% |
136 |
-32.34% |
90 |
97.20% |
| Gilbert |
|
|
|
|
|
|
| 85233 |
$323,200
|
-8.00% |
165 |
-37.50% |
84 |
96.90% |
| 85234 |
$360,800
|
3.65% |
147 |
-29.67% |
71 |
96.70% |
| 85296 |
$365,600
|
-1.32% |
300 |
-15.01% |
77 |
96.90% |
| 85297 |
$368,100
|
-10.44% |
224 |
-5.49% |
81 |
95.30% |
| Glendale |
|
|
|
|
|
|
| 85301 |
$181,300
|
7.41% |
128 |
-33.33% |
54 |
99.20% |
| 85302 |
$221,600
|
0.50% |
117 |
-39.06% |
48 |
98.50% |
| 85303 |
$255,500
|
7.99% |
124 |
-30.73% |
55 |
98.60% |
| 85304 |
$227,300
|
-12.51% |
136 |
3.82% |
47 |
96.60% |
| 85305 |
$375,500
|
11.49% |
21 |
-55.32% |
80 |
97.10% |
| 85306 |
$251,400
|
0.68% |
76 |
-36.13% |
56 |
98.70% |
| 85307 |
$259,200
|
4.77% |
28 |
-17.65% |
65 |
97.10% |
| 85308 |
$310,600
|
-9.39% |
233 |
-27.19% |
81 |
96.60% |
| 85310 |
$404,700
|
4.82% |
133 |
-22.22% |
85 |
96.00% |
| 85318 |
$210,000
|
- |
1 |
- |
118 |
95.90% |
| Goodyear |
|
|
|
|
|
|
| 85338 |
$327,200
|
2.51% |
292 |
-14.37% |
82 |
96.20% |
| Higley |
|
|
|
|
|
|
| 85236 |
$312,300
|
-8.23% |
118 |
8.26% |
71 |
95.90% |
| Laveen |
|
|
|
|
|
|
| 85339 |
$308,900
|
-9.44% |
192 |
159.46% |
66 |
95.30% |
| Litchfield
Park |
|
|
|
|
|
|
| 85340 |
$513,300
|
43.70% |
140 |
-13.04% |
70 |
97.70% |
| Maricopa |
|
|
|
|
|
|
| 85239 |
$235,400
|
-13.07% |
184 |
30.50% |
65 |
94.60% |
| Mesa |
|
|
|
|
|
|
| 85201 |
$210,100
|
13.94% |
104 |
-47.74% |
52 |
98.40% |
| 85202 |
$215,300
|
4.36% |
121 |
-34.59% |
49 |
98.50% |
| 85203 |
$288,200
|
9.83% |
87 |
-32.03% |
62 |
98.20% |
| 85204 |
$222,700
|
3.53% |
191 |
-28.46% |
55 |
98.90% |
| 85205 |
$243,800
|
-2.95% |
162 |
-29.26% |
65 |
97.30% |
| 85206 |
$242,000
|
-2.89% |
129 |
-22.29% |
89 |
97.30% |
| 85207 |
$373,100
|
4.80% |
169 |
-30.17% |
77 |
96.50% |
| 85208 |
$196,900
|
-14.39% |
146 |
-61.38% |
67 |
97.70% |
| 85210 |
$198,300
|
5.25% |
106 |
-32.05% |
45 |
98.70% |
| 85212 |
$291,500
|
-9.30% |
108 |
-47.32% |
72 |
96.80% |
| 85213 |
$318,500
|
-9.80% |
73 |
-35.96% |
76 |
97.10% |
| 85215 |
$295,300
|
-16.18% |
77 |
-25.24% |
83 |
95.80% |
| Paradise
Valley |
|
|
|
|
|
|
| 85253 |
$2,111,500
|
22.58% |
82 |
-15.46% |
119 |
93.20% |
| Peoria |
|
|
|
|
|
|
| 85345 |
$211,200
|
-2.90% |
197 |
-44.66% |
59 |
98.00% |
| 85381 |
$294,200
|
2.15% |
72 |
-25.00% |
62 |
97.30% |
| 85382 |
$285,700
|
-3.58% |
167 |
-34.77% |
78 |
96.40% |
| 85383 |
$489,800
|
2.45% |
151 |
21.77% |
75 |
97.30% |
| Phoenix |
|
|
|
|
|
|
| 85003 |
$380,400
|
8.84% |
21 |
16.67% |
96 |
94.30% |
| 85004 |
$360,400
|
9.61% |
10 |
-37.50% |
75 |
95.80% |
| 85006 |
$228,700
|
12.66% |
64 |
-34.69% |
48 |
97.70% |
| 85007 |
$290,600
|
4.08% |
39 |
-25.00% |
45 |
97.70% |
| 85008 |
$222,900
|
14.37% |
96 |
-24.41% |
51 |
99.00% |
| 85009 |
$176,000
|
21.80% |
95 |
-19.49% |
45 |
99.10% |
| 85012 |
$462,600
|
8.52% |
21 |
-34.38% |
91 |
95.90% |
| 85013 |
$319,200
|
8.46% |
79 |
2.60% |
55 |
96.10% |
| 85014 |
$289,100
|
16.57% |
86 |
-29.51% |
81 |
96.90% |
| 85015 |
$211.60
|
12.91% |
76 |
-42.86% |
58 |
97.70% |
| 85016 |
$383,700
|
-1.41% |
108 |
-31.65% |
74 |
96.00% |
| 85017 |
$177,100
|
7.01% |
90 |
-37.06% |
54 |
100.00% |
| 85018 |
$532,300
|
5.95% |
142 |
-27.92% |
76 |
94.80% |
| 85019 |
$199,000
|
10.93% |
91 |
-26.61% |
54 |
99.40% |
| 85020 |
$332,000
|
20.29% |
126 |
-47.28% |
72 |
95.60% |
| 85021 |
$267,200
|
-13.02% |
88 |
-7.37% |
61 |
97.20% |
| 85022 |
$291,800
|
-1.82% |
160 |
-27.60% |
62 |
95.80% |
| 85023 |
$271,400
|
-1.45% |
105 |
-26.57% |
71 |
96.10% |
| 85024 |
$321,000
|
-1.29% |
98 |
-30.99% |
68 |
96.90% |
| 85026 |
$225,000
|
- |
1 |
- |
67 |
95.70% |
| 85027 |
$222,600
|
-0.89% |
175 |
-20.45% |
56 |
98.60% |
| 85028 |
$450,300
|
-4.66% |
79 |
1.28% |
73 |
95.70% |
| 85029 |
$219,400
|
1.20% |
123 |
-46.29% |
60 |
99.10% |
| 85031 |
$199,400
|
15.19% |
85 |
-29.17% |
38 |
100.00% |
| 85032 |
$275,300
|
2.57% |
226 |
-36.16% |
62 |
96.90% |
| 85033 |
$184,600
|
9.88% |
178 |
-42.02% |
47 |
99.60% |
| 85034 |
$207,900
|
17.59% |
6 |
-75.00% |
80 |
94.00% |
| 85035 |
$193,500
|
9.20% |
117 |
-23.53% |
43 |
99.50% |
| 85037 |
$229,700
|
2.41% |
175 |
-46.81% |
56 |
99.70% |
| 85039 |
$315,000
|
- |
1 |
- |
15 |
95.70% |
| 85040 |
$166,400
|
-15.40% |
157 |
14.60% |
32 |
98.70% |
| 85041 |
$278,700
|
12.97% |
219 |
-3.95% |
63 |
98.50% |
| 85042 |
$245,800
|
-2.77% |
136 |
-13.92% |
51 |
98.10% |
| 85043 |
$237,600
|
-0.21% |
141 |
-11.88% |
59 |
99.40% |
| 85044 |
$337,000
|
-6.96% |
136 |
-33.66% |
70 |
96.60% |
| 85045 |
$472,800
|
-7.64% |
47 |
2.17% |
88 |
97.50% |
| 85048 |
$408,000
|
-12.45% |
154 |
-13.48% |
75 |
97.00% |
| 85050 |
$408,100
|
11.29% |
126 |
-23.17% |
69 |
96.20% |
| 85051 |
$196,200
|
5.20% |
163 |
-26.58% |
57 |
99.10% |
| 85053 |
$231,500
|
1.14% |
98 |
-17.65% |
66 |
98.50% |
| 85054 |
$550,500
|
0.07% |
19 |
0.00% |
63 |
95.90% |
| 85085 |
$414,800
|
-3.78% |
76 |
-19.15% |
101 |
95.40% |
| 85087 |
$375,200
|
-4.80% |
30 |
3.45% |
97 |
96.10% |
| Queen
Creek |
|
|
|
|
|
|
| 85242 |
$447,500
|
15.01% |
117 |
-21.48% |
84 |
96.30% |
| 85243 |
$217,600
|
- |
77 |
- |
57 |
96.80% |
| Scottsdale |
|
|
|
|
|
|
| 85250 |
$351,600
|
-3.88% |
95 |
-25.20% |
73 |
96.60% |
| 85251 |
$316,700
|
-1.71% |
164 |
-26.79% |
75 |
96.00% |
| 85254 |
$523,800
|
0.87% |
181 |
-25.82% |
84 |
96.10% |
| 85255 |
$973,800
|
11.09% |
246 |
-15.46% |
94 |
91.10% |
| 85257 |
$277,700
|
-0.86% |
109 |
-21.58% |
66 |
97.40% |
| 85258 |
$555,500
|
5.97% |
146 |
-29.13% |
78 |
96.30% |
| 85259 |
$786,300
|
-3.20% |
114 |
-34.48% |
95 |
95.90% |
| 85260 |
$476,600
|
-6.80% |
244 |
25.13% |
64 |
97.00% |
| 85262 |
$1,147,800
|
5.97% |
176 |
-21.08% |
102 |
96.50% |
| 85263 |
$539,100
|
-11.59% |
11 |
-42.11% |
104 |
95.30% |
| Sun City |
|
|
|
|
|
|
| 85351 |
$175,200
|
2.46% |
208 |
-29.25% |
79 |
95.70% |
| 85373 |
$245,000
|
11.67% |
119 |
15.53% |
61 |
95.50% |
| 85375 |
$244,900
|
-6.63% |
154 |
-33.62% |
79 |
96.10% |
| Surprise |
|
|
|
|
|
|
| 85374 |
$243,500
|
-7.48% |
239 |
-44.80% |
92 |
97.70% |
| 85379 |
$280,200
|
-7.83% |
275 |
-3.85% |
91 |
95.90% |
| 85387 |
$399,300
|
15.87% |
35 |
-42.62% |
| |