Housing Market Update, Peoria, 85382 $300,000 - $400,000

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Real Estate Agent with Value Added Service, 602-620-2699 SA5376460000
https://activerain.com/droplet/5jTj

According to the demographic study for zip code 85382 in Peoria, there are just over 40,000 living here, the area is about 10 square miles, and the median income is $67,000.  Housing Marketing Update for Peoria, 85382, for prices $300,000 - $400,000 reflects the following data. 

The Monthly Median Sales Price is $290,000.  As you can see prices have risen steadily since 2011 when that price was $135,000.  The peak for this zip code was September, 2005 when the median price was $315,000.  

 

Monthly Median Price in 85382

 

Active Listings have dropped since the peak in April of 55 listings down to 46.  This is a seasonal decline in Active Listings as most of our sales occur between March and October.  Being listed at the best price is key during the summer months to avoid longer selling times.  Increased listing activity is occuring around the valley, but we are still considered below normal listing counts. Active Listings in 85382

While listings inch up in the early spring months and drop in the summer, sales increase.  Clearly since 2011, the number of homes selling has risen steadily as well.  In June, 260 homes sold between $300,000 - $400,000 that went under conract in April and May. The highest number of sales in amonth was May 2006 with 402 sales that month.

Annual and Monthly Sales for 85382 $300,000 - $400,000

Homes are now selling in 70 days on average in 85382 for prices ranging from $300,000 - $400,000.  The longest time it took to sell a home in 85382 in these price ranges was 214 days in November, 2012!  The fastest month to sell in 85382 was January, 2016 when a home sold in 15 days!  Unique phenomenon created that data! 

 

Average Cumulative Days on Market in 85382 for $300,000 - $400,000

Narrowing down the data, this next chart is for Months Supply in 85382 for prices ranging from $300,000 to $350,000.  There is a one and a half months supply of homes in 85382 so that if no other homes were listed for sale in this zip code in thos price ranges, it would take 1 1/2 months to sell everyrhing.  That's very low inventory and a fast sales rate. 

Months Supply of homes in 85382 for $300,000 - $350,000

For information about these reports, and for other zip codes and prices in the Maricopa County area, please give me a call!  

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Rainmaker
2,054,486
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

 Hi Jan Green -  It looks like prices are heading up almost to the 2007 high.

Jul 02, 2019 03:34 PM #1
Rainmaker
994,080
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Thank you for commenting Grant Schneider !  They are certainly at that point.  There are those higher price ranges who purchsed in 2005-2006, say over $750,000 who are still a bit upside down. If they aren't selling it won't matter.  And since baby boomers seem to be aging in place, those might be some of those homes.  

Jul 02, 2019 06:40 PM #2
Rainmaker
2,653,577
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

That's valuable real estate market data for home buyers and sellers in Peoria, Jan.

Jul 03, 2019 04:43 PM #3
Rainmaker
994,080
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Thank you Myrl Jeffcoat !  Appreciate your comment. Have a great 4th!Happy 4th of July!

Jul 03, 2019 05:12 PM #4
Rainmaker
2,114,183
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Happy Fourth of July Jan Green - I hope you have a safe and happy day of celebrations and/or relaxation!

As I viewed your marketing report I see it mirrors mine and other areas across the USA - prices are rising! I wish you great business and success always. 

Jul 04, 2019 04:02 AM #5
Rainmaker
994,080
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Happy Fourth to you Patricia Feager, MBA, CRS, GRI,MRP !  Thank you for commenting.  It's interesting how our markets mirror similar results across teh country.  Have a wonderful day and holiday! Happy 4th of July!

Jul 04, 2019 09:15 AM #6
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Rainmaker
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Jan Green

HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN
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