August sales in North Central Phoenix 7% over July’s seasonal decline (292 vs. 272). The number of homes listed on the MLS was down 3% to 1423 homes (single family, Town or Patio homes, apartment style condos and lofts).
The median sale price per square foot was $81.33, up $6.93 which is a 9% increase. The graph shows that prices came up in March (prices were down from late last year recovering from the end of the government incentives) and has been holding steady around $75 per square foot since March with a jump to over $80 in August. This is a welcome stabilizing (possibly tending to upward) trend.
The number of homes sold in North Central Phoenix since the beginning of the year climbed early on (again partly recovering from the lull of the end of government supports and the holiday season), but took a dip in July. That is in keeping with the price decline in July, but resumed an upward climb in August.
Price continues to dominate the selection of which homes sell. For more details follow this link http://jrphx.com/Reports/August2011.pdf
Joe Rinde CCSS CNE CDPE CSSN
Keller Williams Realty Biltmore-Partners, Phoenix, AZ
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