124 zip codes updated with February 2011 data.
No rebound in median zip code prices seen but I expect a strong rebound in March. We’ll see soon enough.
I see some anomalies by overlaying two zip codes on top of each other. (It’s an in-house analysis tool that is not available on this website.)
If two neighboring zip codes tend to have a certain price relationship, say, the median home price tends to run about $10 per square foot higher in one zip code than the other but now the difference is $20/SF, that would make me think that the more expensive zip code would likely fall to return the price differential to $10 per square foot.
This style of analysis shows several Phoenix area zip codes that may continue to face downward price pressure.
Despite any zip codes where the median home price continues to fall a bit more, I still believe the median sold home price for Maricopa County as a whole has bottomed out.