More Home Statistics for 2006 – Phoenix

Phoenix proper saw many of the same trends as Glendale and Peoria for home values and home sales in the last few years except Phoenix home values actually climbed slightly the last quarter of 2006.    The Phoenix median home value climbed to $223,500 the last quarter of 2006 from $221,675 posted the third quarter of 2006.     Granted this is only a slight increased, but compared to the typical decreases from the surrounding communities, it is a welcome sight.   In the fourth quarter of 2005 the median home price was $207,000 and in 2004 the price was $148,550 so Phoenix proper has seen a consistent increase in home prices.

As in the other valley communities, Phoenix did see a downturn in the number of homes sold.   The end of 2004 there were 7140 resale homes sold.  This number dropped to 6625 homes sold in the fourth quarter of 2005 and down to 4495 in the fourth quarter of 2006