Phoenix Market Report April 2017

Real Estate Agent with HomeSmart Lifestyles-Fountain Hills AZ Real Estate

Cromford Report

The Southeast Valley is certainly on a roll, with all its cities improving for sellers;

  1. Tempe - up 10%
  2. Queen Creek - up 7%
  3. Chandler - up 6%
  4. Mesa - up 5%
  5. Gilbert - up 3%

The West Valley is mixed with Surprise up 6% and Glendale improving 2%, but Avondale has weakened by 12% (something it can afford given its long term hold on the top of the table). In addition, Goodyear is down 7% and Peoria down 2%, so the West Valley is definitely falling behind the Southeast Valley from a seller's perspective..

Pinal County is also in great form, and Maricopa, its only representative in the top 17 (Queen Creek spans both Maricopa and Pinal), continues to rise up the table, gaining 3% over last month.

The Northeast Valley remains the weakest area, though Paradise Valley is making a fine recovery by advancing 10% and threatening to become a seller's market if it can breach 110 by maintaining its recent improvement in demand..

Phoenix has been pretty stable for many months but is now making a move in favor of sellers, up 5% since last month.

It is the mid-price ranges that are healthiest with high volumes and limited supply. The Southeast Valley is very much the province of the mid-price ranges from $250,000 to $600,000.

Volumes in the higher price ranges are much improved over last year but so far this has done little to help prices because of the excessive supply of active listings at price points over $1 million.

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