Central Arizona Resale Home Market Still Growing

The Phoenix Business Journal reports that resales improved slightly in August with 10,700 recorded sales, 500 more than July. However, August's figure was below last year's 11,275 recorded sales.

So far in 2005, there have been 78,935 sales, compared to 68,020 for the same period in 2004. The median price set another record, now sitting at $258,700, up from July's median resale price of $255,000. This was a 46% increase over last year's $177,500. The information came from the Arizona Real Estate Center at ASU. Last month, 20 percent of all recorded sales were for homes priced from $125,000 to $199,000, 38 percent for $200,000 to $299,999, and 36 percent for homes priced over $300,000. The article gives a breakdown of sales and prices by city. More...