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July 7, 2022 Market Update

Thursday, July 7, 2022   /   by Bryan Baylon

July 7, 2022 Market Update

The affidavits from Maricopa County Recorded that were filed in June have now been counted and collated and we have the following preliminary statistics:

  • There were 9,478 closed transactions in June, down 22.4% from June 2021. New homes were down 7.7% to 1,533 while re-sales were down 24.8% to 7,945.
  • The median sales price was $486,824. This is down 0.65% from last month but up 21.7% from June 2021.
  • New home median was $500,454, almost unchanged from last month (down $36) but up 22.8% from June 2021
  • The re-sale median was $484,000, down 0.41% from last month but up 21% from June 2021.

These are for single-family detached and condo / townhouse properties.

In summary, prices have stopped rising but are still much higher than last year while sales volumes are dramatically lower than last year.

The trends in re-sales tend to show more volatile movement than in new homes.

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

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