According to the latest Arizona State University-Repeat Sales Index, which is based on repeat sales of the same homes as they sell over time: from May 2007 to May 2008 the drop in the average valley home price was 21% . The good news is that even though the latest year-to-year figure is steep, the rate of decline has slowed. Although the sales prices have declined for 15 straight months it is offset by the gains as high as 80.6 percent from 2004 to 2006.
- Scottsdale/Paradise Valley off 12 percent
- Down 12.3 percent in the Northeast Valley communities of Carefree, Cave Creek, Fountain Hills, Paradise Valley and Scottsdale.
- Tempe, minus 14.7 percent
- Chandler, minus 17.8 percent.
- Mesa, minus 21 percent
- Peoria, minus 26.9 percent
All in all, if you purchased a home prior to 2004, the overall gain in the value of your property is still significant.
To find the latest statistics please visit us at www.AZ-real-estate-sales.com. To search properties in the various regions/cities please search our MLS or use our POWER SEARCH to search by city and subdivision.
When looking to buy and/or sell, or know of anyone that is, feel free to contact us at 480-948-550 or toll free 1-866-464-2140 . Visit our website www.AZ-real-estate-sales.com where you will find a wealth of information and tools to assist you with all your real estate needs.
