East Valley Market Report - April 2008

by Phoenix Homes Team

May
8

East Valley single family homes, condos and townhouses sales reports for April 2008 including: Apache Junction, Chandler, Gilbert, Mesa, Queen Creek and Tempe.

Apache Junction Single Family Homes Sales Report

Average	Apr 2007	Mar 2008	Apr 2008	Monthly Change in %	Annual Change in %
Asking Price	$304,850	$248,499	$221,280	-10.95%	-27.41%
Sales Price	$246,560	$225,534	$193,548	-14.18%	-21.50%
% of Asking Price	80.88%	90.76%	87.47%	-3.63%	8.15%
$/SqFt	$166.59	$139.95	$125.57	-10.28%	-24.62%
Days on Market	101	147	110	-25.17%	8.91%
Total Transactions	36	24	38	58.33%	5.56%

Apache Junction and Townhouses Sales Report

Average	Apr 2007	Mar 2008	Apr 2008	Monthly Change in %	Annual Change in %
Asking Price	$109,950	$137,450	$72,900	-46.96%	-33.70%
Sales Price	$107,950	$108,250	$71,000	-34.41%	-34.23%
% of Asking Price	98.18%	78.76%	97.39%	23.67%	-0.80%
$/SqFt	$110.55	$94.96	$94.67	-0.30%	-14.37%
Days on Market	6	69	49	-28.47%	790.91%
Total Transactions	2	2	1	-50.00%	-50.00%

Chandler Single Family Homes Sales Report

Average	Apr 2007	Mar 2008	Apr 2008	Monthly Change in %	Annual Change in %
Asking Price	$384,476	$321,797	$337,704	4.94%	-12.17%
Sales Price	$352,378	$288,942	$302,430	4.67%	-14.17%
% of Asking Price	91.65%	89.79%	89.55%	-0.26%	-2.29%
$/SqFt	$172.92	$144.00	$143.50	-0.35%	-17.01%
Days on Market	102	116	123	6.03%	20.59%
Total Transactions	319	235	249	5.96%	-21.94%

Chandler Condos and Townhouses Sales Report

Average	Apr 2007	Mar 2008	Apr 2008	Monthly Change in %	Annual Change in %
Asking Price	$207,366	$207,953	$213,587	2.71%	3.00%
Sales Price	$195,986	$186,104	$192,345	3.35%	-1.86%
% of Asking Price	94.51%	89.49%	90.05%	0.63%	-4.72%
$/SqFt	$165.94	$150.04	$143.86	-4.12%	-13.30%
Days on Market	96	134	127	-4.89%	32.79%
Total Transactions	44	18	30	66.67%	-31.82%

Gilbert Single Family Homes Sales Report

Average	Apr 2007	Mar 2008	Apr 2008	Monthly Change in %	Annual Change in %
Asking Price	$358,232	$321,240	$313,511	-2.41%	-12.48%
Sales Price	$336,514	$286,335	$279,668	-2.33%	-16.89%
% of Asking Price	93.94%	89.13%	89.20%	0.08%	-5.04%
$/SqFt	$160.34	$130.99	$127.61	-2.58%	-20.41%
Days on Market	100	117	120	2.56%	20.00%
Total Transactions	281	263	282	7.22%	0.36%

Gilbert Condos and Townhouses Sales Report

Average	Apr 2007	Mar 2008	Apr 2008	Monthly Change in %	Annual Change in %
Asking Price	$221,854	$165,000	$175,085	6.11%	-21.08%
Sales Price	$210,454	$172,500	$195,985	13.61%	-6.88%
% of Asking Price	94.86%	104.55%	111.94%	7.07%	18.00%
$/SqFt	$206.14	$127.97	$122.13	-4.56%	-40.76%
Days on Market	62	23	159	590.22%	155.41%
Total Transactions	13	1	4	300.00%	-69.23%

Mesa Single Family Homes Sales Report

Average	Apr 2007	Mar 2008	Apr 2008	Monthly Change in %	Annual Change in %
Asking Price	$290,807	$283,257	$306,646	8.26%	5.45%
Sales Price	$274,304	$248,955	$244,133	-1.94%	-11.00%
% of Asking Price	94.32%	87.89%	79.61%	-9.42%	-15.60%
$/SqFt	$158.00	$132.98	$131.60	-1.04%	-16.71%
Days on Market	99	127	127	0.00%	28.28%
Total Transactions	406	337	363	7.72%	-10.59%

Mesa Condos and Townhouses Sales Report

Average	Apr 2007	Mar 2008	Apr 2008	Monthly Change in %	Annual Change in %
Asking Price	$168,972	$170,251	$168,001	-1.32%	-0.57%
Sales Price	$160,717	$152,822	$152,122	-0.46%	-5.35%
% of Asking Price	95.11%	89.76%	90.55%	0.87%	-4.80%
$/SqFt	$148.33	$131.98	$125.33	-5.04%	-15.51%
Days on Market	90	129	115	-11.09%	28.12%
Total Transactions	106	50	59	18.00%	-44.34%

Queen Creek Single Family Homes Sales Report

Average	Apr 2007	Mar 2008	Apr 2008	Monthly Change in %	Annual Change in %
Asking Price	$280,179	$217,219	$202,515	-6.77%	-27.72%
Sales Price	$258,146	$177,835	$176,526	-0.74%	-31.62%
% of Asking Price	92.14%	81.87%	87.17%	6.47%	-5.39%
$/SqFt	$121.02	$81.33	$81.28	-0.06%	-32.84%
Days on Market	107	120	122	1.67%	14.02%
Total Transactions	129	233	288	23.61%	123.26%

Tempe Single Family Homes Sales Report

Average	Apr 2007	Mar 2008	Apr 2008	Monthly Change in %	Annual Change in %
Asking Price	$384,456	$336,732	$314,515	-6.60%	-18.19%
Sales Price	$333,750	$303,717	$284,396	-6.36%	-14.79%
% of Asking Price	86.81%	90.20%	90.42%	0.25%	4.16%
$/SqFt	$175.60	$165.06	$158.94	-3.71%	-9.49%
Days on Market	69	106	94	-11.32%	36.23%
Total Transactions	100	74	68	-8.11%	-32.00%

Tempe Condos and Townhouses Sales Report

Average	Apr 2007	Mar 2008	Apr 2008	Monthly Change in %	Annual Change in %
Asking Price	$262,089	$192,238	$237,868	23.74%	-9.24%
Sales Price	$249,360	$175,648	$217,340	23.74%	-12.84%
% of Asking Price	95.14%	91.37%	91.37%	0.00%	-3.97%
$/SqFt	$210.92	$172.70	$175.19	1.44%	-16.94%
Days on Market	110	119	86	-27.46%	-22.00%
Total Transactions	49	21	35	66.67%	-28.57%

All numbers are from the ARMLS and are deemed reliable but not guaranteed, as of 5-7-2008.

Previous Market Conditions

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