Market Update

FOR YOUR INFORMATION...

• The median square footage for a single family home recorded sold in May 2007 was 1,700 square feet.
• The median square footage for a townhouse/condo was 1,090 square feet.

RECORDED DATA FROM MAY 2006, TO MAY 2007

• Single family home sales in the city of Phoenix decreased from 2,120 to 1,405 sales, while the median home price increased from $225,000 to $229,000.
• Townhouse/condo decreased from 465 to 380 sales, while the median price increased from $153,700 to $165,745.

• Single family home sales in the city of Scottsdale decreased from 535 to 420 sales, while the median price increased from $615,000 to $617,000.
• Townhouse/condo sales decreased from 305 to 295, while the median price increased from $261,500 to $273,250.

• Single family home sales in the city of Mesa declined from 790 to 610, while the median price declined from $249,950 to $238,000.
• Townhouse/condo sales decreased from 225 to 160, the median price decreased from $157,000 to $150,000.

• Single family home sales in the city of Glendale decreased from 575 to 355, and the median sales price decreased from $250,000 to $243,000.
• Townhouse/condo sales decreased from 80 to 50, the median sales price decreased from $148,500 to $146,000.

• Single family homes sales in the city of Peoria decreased from 305 to 245, and the median price declined from $284,950 to $255,000.
• Townhouse/condo sales decreased from 50 to 35, and the median price declined from $175,000 to $169,500.

• Single family home sales in the city of Gilbert decreased from 340 to 300, and the median price decreased from $327,450 to $300,000.
• Townhouse/condo sales remained at 15, and the median price increased from $205,000 to $215,000.

• Single family home sales in the city of Chandler decreased from 485 to 360, and the median price declined from $306,000 to $297,750.
• Townhouse/condo sales decreased from 45 to 40 sales, and the median price declined from $186,500 to $175,000.

• Single family home sales in Tempe decreased from 210 to 155 sales, and the median price decreased from $288,500 to $270,780.
• Townhouse/condo sales decreased from 100 to 90, and the median price decreased from $198,000 to $189,400.

Note: This data was derived from an article published in the Arizona Journal of Real Estate and Business, August 2007. This information is believed accurate, but not guaranteed.

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