Sales info
HI,
First, congratulations to Brian Boykin and Deral Boykin on the closing of their property today. It is a great spot, and I am sure it will work well for you!
I promised some sales statistics last week, and went on to other things. So here they are. The Mesa resale market grew from 3240 sales in the 2nd quarter of 2004 to 3615 for the same period of 2005. At the same time the median price increased from $154,450 to $210,000. Townhouses and condos in that area also increased with sales up 125 units versus last year to 925, with the median price increasing from $98,300 to $118,710.
Gilbert saw the same type of changes with the median price increasing from $190,000 to $283,500 over the same period last year. Total sales increased from 1770 to 1875. Townhouse and condo sales were flat on volume, but median price increased from $123,000 to $165,000.
Similar changes for Chandler. Median pricing went from $179,900 to $265,000, with total volume increasing modestly from 2020 to 2070. Townhouse and condo sales remained the same with median price increasing from $112,500 to $142,500.
These figures provide depth to the information we already know. The market was phenominal over the past year. But where is it going? Well, yes it is slowing, but considering the frantic pace it has been at, this is good. We are still seeing a market that is way better than average. Most industry analysts still feel this market will continue to thrive, even if it is not at the break neck pace of the past year.
Adam Tarr and Sharon Kotula
Your Phoenix area Real Estate Source