If we look at the monthly average sales price per square foot for July we see a rather unimpressive number of $138.27 for all areas & types. Unimpressive because the figure for January was $139.24, so we have gone backwards by one dollar in six months. Those who who would like to see more signs of progress may turn to the median sales price which has moved up from $210,000 to $225,00 over the same 6 months.
This illustrates how you can often see conflicting signals for the same market. The median is being forced higher by the shortage of inventory at the bottom end, resulting in lower sales volumes of cheaper homes. The average price per square foot is losing out because of weak sales at the higher end of the market. These expensive homes pull the average higher and they have been losing market share to the mid-range.
Author:Dorothy Hovard Phone: 480-204-5704 Dated: August 13th 2016 Views: 96 About Dorothy: ...
Dave Zajdzinski and the Z TEAM bring over 15 years of real estate experience to home buyers and sellers throughout Arizona. We have helped hundreds of families meet their real estate goals and Dave is consistently ranked one of the top realtors in the Valley. As a Certified Distressed Property Expert, Dave specializes in short sale transactions as well as traditional home sales. The Z TEAM is small enough to be personal throughout your sale yet large enough to handle any need with great detail.
Another S&P/Case-Shiller® Home Price Index® report has been released
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