Review of Tom Ruff’s Phoenix Market Report
Tom’s report is here.
And I love this one from last year.
Prices Fall 4% in 1 Month
- Phoenix median single-family house price down 4% in 1 month to $453,000 in November .
- From May to November, the median price in metro Phoenix fell $62,000 or 12%.
- Metro Phoenix median single-family non-distressed house sold price is about the same as a year ago ($453,000 vs $450,000 a year ago).
Price Change November 2021 to November 2022
- Paradise Valley = +17%
- Litchfield Park = -19%
Click on the graphs to go to the full-size, interactive version.
Notice how very small changes in New Listings and Solds eventually cause HUGE changes in the number of houses For Sale and house Prices (see graph above).
This information can vary a lot in different parts of metro Phoenix. Your real estate agent can find the data for your specific city or zip code at The Cromford Report.