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.