If you need assistance, please call 602-410-0827

October 4, 2022 Market Update

Tuesday, October 4, 2022   /   by Bryan Baylon

October 4, 2022 Market Update

The affidavits of value have been counted for Maricopa County in September and they reveal the following statistics:

  • There were 7,174 closed transactions - down 36% from September 2021
  • New home closings totaled 1,599 - down 4% from September 2021
  • Re-sale closings numbered 5,575 - down 42% from September 2021
  • Overall median sales price was $462,994 - up 11.6% from September 2021
  • Median new home sales price was $517,456 - up 25.3% from September 2021
  • Median re-sale home price was $445,000 - up 7.2% from September 2021

We can see that new homes are faring much better than re-sales with a new record high median sales price, up 1% from last month. New homes now represent 22.3% of all closings.

Re-sale closings are down dramatically - the lowest monthly total since January 2016. The re-sale median sales price has fallen 8.4% since the peak of $486,000 in May 2022.

All these numbers are for single-family detached, condos and townhomes combined.

Market insights provided by the Cromford Report.
Keller Williams Northeast Realty - The Baylon Group
Bryan Baylon
2005 W. Happy Valley Rd #150
Phoenix, AZ 85085

© 2024 Arizona Regional Multiple Listing Service, All rights reserved. The data relating to real estate for sale on this website comes in part from the Arizona Regional Multiple Listing Service. Real estate listings held by brokerage firms other than Bryan Baylon - Keller Williams Northeast Realty are marked with the Arizona Regional Multiple Listing Service logo and detailed information about them includes the name of the listing brokers. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Arizona Regional Multiple Listing Service shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. June 15, 2024
This site powered by CINC: www.cincpro.com