The initial Maricopa County affidavit counts are in for May and they tell us the following:

• There were 10,268 closed sales - down 11% from May 2021
• There were 1,615 new homes closed - down 12% from May 2021
• There were 8,653 re-sale homes closed - down 11% from May 2021
• The overall median sales price was $490,000 - up 24.8% from May 2021
• The new home median sales price was $500,490, up 27.8% from May 2021
• The re-sale median sales price was $486,000, up 23.7% from May 2021

All the numbers include single-family and townhouse/condo properties.

Although sales volume are down substantially, closed prices continue to move substantially higher. The overall monthly median sales price climbed 2.2% between April and May.

Market incites provided by the Cromford report.