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May 2016 Phoenix 85050 real estate stats

May 2016 saw a total of 54 home sales in the 85050 Zip code of Northeast Phoenix.  As of this writing there are 146 active listings and 87 under contract within 85050, so the inventory levels  are 2.7 month's worth of supply based on the May 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

Total May sales: 54

Average Price Per foot: $177.16
Sale price as a percentage of list price: 98%
Average sale price: $374,779
Average Days on market: 80

This breaks down by type as follows:

Single Family Detached Homes
Sale: 48

Average Price Per foot: $178.59

Sale price as a percentage of list price: 98%
Average sale price: $388,886
Average Days on market: 73


Condos and Townhomes:
Total sales 6
Average Price Per foot: $165.71
Sale price as a percentage of list price: 97%
Average sale price: $261,917
Average Days on market: 144

Prices for all properties ranged from $168,000 for a 3/2.5 1379 sf townhome to $865,000 for a 6/4.5, 4302 sq.ft. single family home in Firside at Desert Ridge.  Data includes single family, town home and condos.  Data does not include land or mobile.  May showed continued growth in the market.  Sales were steady and prices continued to rise in the overall 85050 market, and specifically in single family detached.  Condos and townhomes saw a 1% decline in pricing, but the small sample size is prone to larger swings dependent on the mix of sales.

Adam Tarr PC
Citywide Real Estate
480-236-7374

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