2nd quarter sales
HI, and hope you've had a great day...
A few weeks ago, we provided statistics on the record-setting pace of sales in the Phoenix area real estate market. Here are some more specific stats:
For the city of Phoenix specifically, second quarter resales for '05 increased to 8,380 from 7,430 in the second quarter of '04, and the median sales price rose to $182,500 from $135,000. With a city as large as Phoenix, median prices varied quite a bit from one neighborhood to another. For example the median in the Sky Harbor area was only $113,500 while the Union Hills area had a median price of $312,000.
In Scottsdale, the number of resales for the same period actually declined from the record pace of the previous year, down to 2,480 from 2,880. But, the median price increased to $521,250 from $377,330. As with Phoenix, Scottsdale - which is a long city geographically - had quite a range of medians, with the median price in south Scottsdale at $273,000 and the median in North Scottsdale at $600,475.
We will provide some more statistical information on other Valley cities in the upcoming week. Have a great night and even better tomorrow.
Adam Tarr and Sharon Kotula
Your Phoenix Area Real Estate Source