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July 16, 2022 Market Update

Saturday, July 16, 2022   /   by Bryan Baylon

July 16, 2022 Market Update

The average list price per square foot for active listings in Greater Phoenix (excluding UCB and CCBS) is $339.56 today

At the same time last year we measured $340.15

This year-over-year decline in the average asking price is mostly caused by the huge growth in the number of mid-range listings. High-end listings have grown by a far smaller percentage. The change in the mix tends to pull the average $/SF lower.

If we confine our analysis to homes priced between $500,000 and $1 million, then the asking price has increased from $266.26 to $286.41 over the last 12 months. The average for this price range peaked $293.08 seven weeks ago and is now trending lower.

But before we draw any big conclusions from that, it also peaked 6 weeks ago in 2021 and trended lower for 3 months before starting to rise again.


Market incites provided by the Cromford report.
Keller Williams Northeast Realty - The Baylon Group
Bryan Baylon
2005 W. Happy Valley Rd #150
Phoenix, AZ 85085
602-410-0827

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