(The data below is taken from the Monday Morning Report which is a complimentary report on the metro Phoenix new and resale housing market published each Monday by RL Brown Reports, the region’s leading housing market data and analysis firm. Feel free to visit the RL Brown website for the most accurate housing data for the Metro Phoenix Market).
If you live or work in the west valley, you likely already know there are plenty of active and upcoming new home communities. In fact there are 138 communities in the Northwest submarket and 172 communities in the Southwest submarket with permit or closing activity in the last 12 months.
The graphics below identify the geographic and price distribution in the west valley submarkets. The red icons are the active communities with product offerings under $249,900.
In the Northwest market area, the dominate price range is in the $300,000 to $400,000 range. Note that less than 10% of the closing activity is below $249,900 here.
The Southwest market area is somewhat more evenly distributed across the price bands with the dominant activity in the more affordable $195,000 to $249,900 price category.
Resale activity in the overall west valley area was strong with 23,415 closings in the year to date period. This represents 39% of the total YTD resale closings valley wide in Maricopa County. The west valley average resale closing price was $211,382 while the median price was $195,000. Of course this calculation will vary month to month and more significantly in specific neighborhoods and smaller submarket areas.
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