(September 19, 2013) PHOENIX – For the first time in 12 months the Average SOLD Price and the MEDIAN SOLD Price according to the Arizona Regional Multiple Listing Service (MLS) dropped. In addition to the price drop, the number of SOLD homes also dropped. Watch the VIDEO ABOVE for complete details.
For the month of August 2013 there were 7,055 SOLD homes compared to 8,216 in July of 2013. Last year in August sales were stronger with 7,562 homes sold. The next chart that we monitor is the Average SOLD Price. For the month of August 2013, the Average SOLD price was $238,845 vs. $238,848 for the previous month and $190,931 one year ago. So not only have the number of homes SOLD dropped, but the Average SOLD price has dropped in the Phoenix area too. The final chart we like to watch is the Median SOLD price that is often a better indication of home prices. For August 2013 the Median SOLD price was $180,242 which was done from $185,000 from the previous month but up from the previous year when the Median SOLD price was $146,000.
September is typically a SLOWER month when it comes to real estate sales in the Phoenix area, but with the cooler weather just around the corner in October, we often see a small spike in the number of homes SOLD in the Fall months.
Below are the charts for your review that show a 10 year history of:
Home Sales Median Price Per Month, Homes Sales Average Price Per Month and Home Sales Per Month according to ARMLS:
Keep in mind the real estate is LOCAL and if you have a question about what is going on in your neighborhood, call Donald Keys at (602) 750-1744 to get a zip code or neighborhood specific home report or to find out what your home might bring if you decide to sell in today’s market.