Phoenix Metro Area West Valley hit hardest by home price drops in 2007
West Valley hit hardest by home price drops in 2007
Click Here To Search For Phoenix Metro Area Homes: www.AzRealtyPros.com
Not surprisingly, median prices for existing homes fell throughout most of the Phoenix area from 2006 to 2007, especially in the West Valley, according to a report released today by Realty Studies at Arizona State University.
Avondale, El Mirage, and Goodyear saw declines of nine percent or more in median prices for the whole year.
Phoenix had no change, and Tempe, Chandler and Scottsdale had drops of three percent or less.
However, the numbers show the median prices for the whole year and don't show how prices have been dropping in recent months, which tends to be a slower time anyway.
Medians dropped from November to December in every community except Tempe and Goodyear, where they rose a little.
East Valley
Chandler
Median 2007: $290,000
Change from 2006: -2.7%
Gilbert
Median 2007: $295,000
Change from 2006: -9.8%
Mesa
Median 2007: $235,000
Change from 2006: -3.5%
Scottsdale
Median 2007: $579,000
Change from 2006: -2.7%
Tempe
Median 2007: $276,000
Change from 2006: -3%
Phoenix
Phoenix
Median 2007: $220,000
Change from 2006: 0%
West Valley
Avondale
Median 2007: $225,500
Change from 2006: -12%
Goodyear
Median 2007: $255,500
Change from 2006: -9%
Northwest Valley
El Mirage
Median 2007: $192,600
Change from 2006: -10%
Glendale
Median 2007: $237,500
Change from 2006: -5%
Peoria
Median 2007: $257,830
Change from 2006: -4.5%
Sun City
Median 2007: $195,000
Change from 2006: -7%
Sun City West
Median 2007: $220,000
Change from 2006: -8%
Surprise
Median 2007: $237,000\
Change from 2006: -5%
Click Here To Search For Phoenix Metro Area Homes: www.AzRealtyPros.com
Source: Realty Studies, Arizona State University
Betty Beard
The Arizona Republic
Jan. 10, 2008 01:17 PM