Two numbers on our expanded Daily Market Snapshot moved in opposite directions last month. For all areas and types, the average price per square foot rose from $293.21 on October 1 to $305.01 on November 1, a gain of 4.0%. The median fell from $251.88 to $250.12, down 0.7%. Those two readings cover closings during…
Pricing Updates
Luxury Homes Near the Center Are Pulling Away
Expensive homes close to the center of the Phoenix area have seen much stronger price gains over the last three years than expensive homes on the fringes. We compared 53 neighborhoods, measuring the typical price per square foot for detached homes over the 12 months to August 2026 against the 12 months to August 2023….
Mid-Month Pricing Update and Forecast
For the monthly period ending October 15, we are currently recording a median sales $/SF of $250.34 across all areas and types in the ARMLS database. This is down just 0.1% from the $250.51 we now measure for September 15. It is the third monthly decline in a row, but by far the smallest. Year…
Mid-Month Pricing Update and Forecast
For the monthly period ending September 15, we are currently recording a median sales $/SF of $249.80 across all areas and types in the ARMLS database. This is down 0.9% from the $252.14 we now measure for August 15, and it has slipped below last year’s level: the same period in 2025 read $251.77, so…
Mid-Month Pricing Update and Forecast
For the monthly period ending August 15, we are currently recording a sales $/SF of $292.77, averaged across all areas and types in the ARMLS database. This is down 3.6% from the $303.74 we measured for July 15. Our forecast range midpoint was $300.36, so although we predicted a significant fall, we underestimated it by…
Price Analysis: Part Three – A Longer-Term View
In our last two posts, we studied the weak period in the housing market that has lasted since the froth of the COVID frenzy blew away. Using the most recent price peak as the baseline means almost all methods of measuring home prices show a gloomy picture because, by definition, we started at the top…
Prices Since the Peak: Part Two
Yesterday we sliced Greater Phoenix by dwelling type. This time we slice it by geographic region, single family detached only, and two regions refuse to follow the script everyone else stuck to.
Mid-Month Pricing Update and Forecast
For the monthly period ending July 15, we are currently recording a sales $/SF of $304.32, averaged across all areas and types in the ARMLS database. This is up 0.4% from the $301.22 we now measure for June 15. Our forecast range midpoint was $307.78, so this month we got the direction right but overestimated…