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2014 real estate recap for 85050 Phoenix

I usually provide a monthly report, but since we have just completed the year, this installment will cover year over year statistics.  The overall Phoenix metro market was very stable during 2014 and 85050 is the perfect example. All of 2014 saw a total of 617 home sales in the 85050 Zip code of Northeast Phoenix.  That is a decrease of 3.7% from 2013's 641 sales.  85050 encompasses an area roughly bounded by Union Hills Drive, Cave Creek Road, Jomax Road and Tatum Boulevard in Northeast Phoenix.   Some of the main attractions and destinations in 85050 include Desert Ridge MarketPlace, Musical Instrument Museum, Horse Lovers Park, Reach 11 Sports Complex, Excelling Paradise Valley Unified School District schools and much more.  The  junction of the Loop 101 and SR 51 lies in the midst of 85050 for easy access to all parts of the valley.  For more information on the area as well as available homes, please  call me at 480-236-7374. - 
2014                                                                  2013
Total sales: 617                                                 Total  sales: 641
Average Price Per foot: $160.38                                 151.31
Sale price as a percentage of list price: 98%                   99%
Average sale price: $333,767                                       330,752

Median sale price   $281,000                                        279,000

Average Days on market: 77                                            55

Per foot pricing was up 6% from 2013's average.  The average and median sale prices were up just under 1%.  The days on market was also up 40%.

This breaks down by type as follows:

Single Family Detached Homes
Sales in 2014: 552, down 4% from 576
Average Price Per foot in 2014: $160.44, up 5.3% from $152.38

Average sale price 2014: $343,348, basically flat ($343,904 in 2013)
Average Days on market 2014: 72, up31% from 55 in 2013.

Condos and Townhomes:
Total sales were equal in both years at 65
Average Price Per foot in 2014 : 159.85, up 12.7% from $141.86 in 2013
Average sale price 2014: $252,405, up 17.8% from 214,208 in 2013
Average Days on market:117 up 83% from 64 days in 2013

Prices for all properties ranged from $124,000 for a 2/2  1002 townhome that closed in August to $962,500 for a for a 6/6.5, 6850 sq.ft. single family home in Aviano at Desert Ridge.  Data includes single family, town home and condos.  Data does not include land or mobile.

Adam Tarr PC
Citywide Real Estate


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