Phoenix Market Trends - Monthly Median Sales Price - January 2013

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Real Estate Broker/Owner with Phoenix Property Shoppe 602-380-4886
http://actvra.in/R6W

Phoenix Market Trends - Monthly Median Sales Price - January 2013 

 

The Monthly Median Sales Price is a consistent indicator in the Real Estate Market.  This is especially true in the Valley of the Sun.  When the economy is right-side up in the Metro Phoenix area, the Monthly Median Sales Price can evidence the actual position of the market at that time.  For example, it not only shows the trends from the months previous, but it also can give insight to the possibilities of the current month, as well as give insight to upcoming months that either have or lack potential in the Real Estate Market.  

 

As this chart below indicates, the Monthly Median Sales Price for January 2013 was $161,000.  This is a great indicator, as it tends to be the most accurate account of the industry at any particular time.  The Monthly Median Sales Price is unique in that it is the amount exactly in the middle of all the homes sold in the Valley of the Sun in the complete month.  The benefit of the amount being the exact middle versus an average of all the homes sold in the Metro Phoenix area is that this amount can be higher than the average (sometimes it ends up higher than the average and other times lower).  If we can determine the Monthly Median Sales Price higher than what the average would be, then that means that each home being sold in the market has the opportunity to bump up just a bit higher than normal  This may not seem like much in the scope of one home being sold - however, if you are considering that there are typically thousands and thousands of homes sold in the Metro Phoenix area, these bumps add up.  Add up to more value for the homes in the area comparable, which drives up Real Estate properties, which inititates the appreciation cycle.  

 

Monthly Median Sales Price - January 2013

 

Based off of the numbers above, January 2013 ended very well - rounding up to $161,000 - which is great because if this is the Monthly Median Sales Price, that means that the high end of the sales are happening about $320,000 - which is a great indicator for all of us living in the Valley of the Sun.  This means that more people are buying homes here, which means that we will have a need for more jobs, more work, more money being circulated, which means more business in general.

 

With the market looking SO good, it is a GREAT TIME TO SELL YOUR HOME!!  It is a SELLER'S MARKET right now and, most homes are selling for higher prices, as more and more people are bidding on the same house, driving up prices and shifting the advantage to the Seller.  IF you have been considering SELLING YOUR HOME, now is a GREAT time to do so.  Give Anna Banana a call to set up a time to review your FREE PROPERTY ANALYSIS REPORT which will give you the information to make a sound Real Estate decision.  With Anna Banana's network of Real Estate professionals lined up to help out, the process overall process becomes seamless.  

 

 

Phoenix Market Trends - Monthly Median Sales Price - January 2013 

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Ambassador
899,448
Dagny Eason
Dagny's Real Estate - Wilton, CT
Fairfield County CT, CDPE Homes For Sale and Condo

Anna - Great market report!   Glad your high end sales are starting to move like they are!

Feb 23, 2013 06:43 PM #1
Rainmaker
576,419
Mark Loewenberg
Keller Williams of the Palm Beaches - Palm Beach Gardens, FL
PA 561-214-0370

excellent information to share with your clientel as well with keeping us up to date in your area!

Feb 23, 2013 09:16 PM #2
Rainmaker
895,903
Wayne Martin
Michael Saunders & Company - Sarasota, FL
Sales Manager - New Homes & Condominiums Division

Anna, rates are low for mortgages and prices are beginning to rise. It's time to get off the fence! Enjoy your day!

Feb 24, 2013 06:03 AM #3
Rainer
186,208
Marshall Enterprises
Marshall Enterprises - Saint Michael, MN
Antiques, Lawn Care, and Trashouts

That chart is fantastic, Anna.  I hope things continue to go UPPPPPP!!!!!

Feb 26, 2013 11:31 AM #4
Rainmaker
77,673
Mike Sibbald
Elevations Real Estate, LLC - Fort Collins, CO
Broker/Owner Elevations Real Estate, LLC

Hello Anna, that is great information and a graph that shows it.  Very good for buyers and sellers to see it.  I recently had a buyer who sold their home in Phoenix in a competing situation.  The appraiser however failed to recognize (or listen too) the listing agent and appraised it lower than contracted value!!  It looks positive though!  Mike.

Feb 26, 2013 12:47 PM #5
Ambassador
1,451,644
Anna Banana Kruchten
Phoenix Property Shoppe - Phoenix, AZ
Arizona's Top Banana of Real Estate!

Dagny it's taken a long while to get them going...but we're on the way, thankfully.

Mark - thanks for stopping by!

Wayne - way past time to get off the fence and move!

Ron - thanks.   They are trending up more and more every month.

Mike - many agents and appraisers are not understanding the concept of 'trending up'.  They look at things the old fashioned way and that doesn't work these days.  We have to think outside the box and make our case with strong facts.

Feb 26, 2013 03:38 PM #6
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Anna Banana Kruchten

Arizona's Top Banana of Real Estate!
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