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Year over year comparison for NE Phoenix for October

Halloween is now done, and lets see if it was a trick or treat for Real Estate sales in NE Phoenix.  Overall, I think we can view the performance as a treat.  Across the entire metro area, average sale prices were up 5% and median prices were up 7%.  While you will see a large disparity between some ZIP codes it is important to remember that a deeper dive is often necessary to get the real picture.  These stats can be cherry picked to serve a specific purpose, and I have blogged on that subject before.

So, let's dive in with some background on the stats used.  The table reflects only Single Family Detached homes in ZIP codes in NE Phoenix.  If you would like info on other areas, or other types of properties, please let me know.  All areas show a Year over Year (YOY) increase, except for the two ZIP's that include Desert Ridge.  Desert Ridge is still going strong, but the makeup of the sales wasn't typical in  October of this year which can skew the results.  Again, any time you see stats that seem to be out of the normal range, it's worth looking further.  85050, for example has a wider range of pricing than most of the other ZIP's.  If there are more or less homes sold in one end of the range than a typical month, the average and median will be skewed.  For example, in October of 2018, 13 of 48 homes sold were over $550K and 4 of those were $750K or higher. In October of 2019. only 10 of 66 homes sold were over $550, and none were over $750.  Most months this year had at least one over $1M.  September's ave and median increased 6 and 5 percent respectivively.  I expcct you will see a return of positive YOY next month for these ZIP's

Zip Code

   # of

sales

Ave sale

 

Price

% change

YOY

       Median

Sale Price

 

% change

YOY

 

2018

2019

2018

2019

 

2018

2019

 

85022

49

57

299,275

346,606

+15

270,000

326,000

+20

85024

32

49

358,547

352,602

-1

305,000

349,500

+14

85028

34

26

481,547

597496

+24

355,500

439,950

+23

85032

94

71

322,226

357,280

+10

317,950

320,000

0

85050

48

66

450,607

408,773

-9

399,000

359,500

-9

85054

6

12

560,592

545,600

-2

562,500

533,900

-5

85254

61

69

531,176

551,378

+3

479,000

550,000

+14

All MLS

6077

6550

350,198

370,409

+5

280,000

300,000

+7

If you would like a deeper dive on your ZIP code, or even neighborhood, let me know!

Adam Tarr
Designated Broker
Mav Realty Arizona

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