Phoenix Business Journal.

In the price range from $400,000 to $800,000 supply is down 14 percent from a year ago. Prices per square foot are up 5.3 percent from a year ago.

Higher end luxury homes listings still suffer even though supply is down 17 percent from last year. The monthly sales rate is 21 percent below last year and prices per square foot are down 8.4 percent.

There are, however, some problems when looking at price changes within a price range because some homes will move into or out of the price range over time which effects the price change.