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