If you need assistance, please call 480-775-7700

This August Market Update Is Hot off the Presses

Thursday, September 14, 2017   /   by Bret Johnson

This August Market Update Is Hot off the Presses


Here are the latest numbers from our August 2017 market.

This year, appreciation during the month of August rose 6% from 2016. Also, the median sales price is up by 1%, sitting at $251,000.

However, the number of sales in our August market varied slightly depending on whether the home was a resale or a new construction. The number of resales sold in August is up 4% year over year, while new home sales are up by 15%.

This is definitely a hot market for new homes. Speaking of new homes, builders are tending to make them smaller. This means that the price per square foot has gone up.

With that said, every market is different. Within our Phoenix area market, some areas are definitely hotter than others.

Right now, Coolidge, El Mirage, and Arizona City are the top three areas in terms of appreciation. In fact, Coolidge has seen a 14% year-over-year increase.

On the other end of the spectrum, Tonopah, Whittmann, Carefree, Fountain Hills, and New River are seeing the lowest appreciation. New River has had about a  2.7% increase in appreciation while Tonopah actually decreased 10% from this time last year.

Ultimately, every area experiences different market conditions.

If you would like to know what is going on your area, have any other questions, or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.
Realty Network Group at Realty Executives
1135 N Recker Rd #102
Mesa, AZ 85205
480-775-7700

© 2024 Arizona Regional Multiple Listing Service, All rights reserved. The data relating to real estate for sale on this website comes in part from the Arizona Regional Multiple Listing Service. Real estate listings held by brokerage firms other than Lester Cox Sites are marked with the Arizona Regional Multiple Listing Service logo and detailed information about them includes the name of the listing brokers. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Arizona Regional Multiple Listing Service shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. July 25, 2024
This site powered by CINC: www.cincpro.com