Dr. Jay Butler of Realty Studies at Arizona State University came out with his Phoenix area residential real estate sales and median price numbers for March 2010.

Greater Phoenix – Median Home Price

(Single-family resale homes. Excludes repossessions but includes sales by banks after they repossess. ASU calls these “Traditional Sales”)

March 2010: $142,500
March 2009: $127,000

The median home price in Marcopa County bottomed out in April 2009 at $125,000 and has risen 14% since then to $142,500 in March 2010.

Greater Phoenix – Number of Homes Sold

(Single-family resale homes. Excludes repossessions but includes sales by banks after they repossess. ASU calls these “Traditional Sales”)

March 2010: 6,490
March 2009: 5,940

The number of homes sold in metro Phoenix in March increased 9% over March 2009.

NOTE: Dr. Butler’s ASU data measures median home price. He doesn’t measure home price appreciation directly, although the median price follows appreciation very closely. Case-Shiller data, however, directly measures home price appreciation and depreciation. Dr. Guntermann at ASU uses the same technique as Case-Shiller but Dr. Guntermann breaks down the data further to look at appreciation in the major cities within metro Phoenix as well as metro Phoenix as a whole. Case-Shiller and Guntermann release their numbers 2 months after the end of a month while Butler releases his numbers 2 weeks after the end of a month.