East Valley Market Conditions, May 2009

by Phoenix Homes Team
Jun
1

East Valley single family homes, condos and townhouses sales reports for May 2009 including: Apache Junction, Chandler, Gilbert, Mesa, Queen Creek and Tempe.

Single Family Homes Sales Trends in Apache Junction, May 2009

May 2008 April 2009 May 2009 Monthly Change in % Annual Change in %
Asking Price
$233,974
$108,334
$121,642
12.28%
-48.01%
Sale Price
$209,501
$104,900
$115,823
10.41%
-44.71%
% of Asking Price
89.54%
96.83%
95.22%
-1.66%
6.34%
Price/SqFt
$123
$66
$72
9.09%
-41.46%
DOM*
116
119
125
5.04%
7.76%
Total Transactions
50
80
82
2.5%
64%

Single Family Homes Sales Trends in Chandler, May 2009

May 2008 April 2009 May 2009 Monthly Change in % Annual Change in %
Asking Price
$319,418
$226,217
$237,291
4.9%
-25.71%
Sale Price
$287,991
$216,898
$229,489
5.8%
-20.31%
% of Asking Price
90.16%
95.88%
96.71%
0.87%
7.26%
Price/SqFt
$137
$104
$106
1.92%
-22.63%
DOM*
127
108
121
12.04%
-4.72%
Total Transactions
314
281
370
31.67%
17.83%

Condos/Townhouses Sales Trends in Chandler, May 2009

May 2008 April 2009 May 2009 Monthly Change in % Annual Change in %
Asking Price
$228,143
$130,317
$105,365
-19.15%
-53.82%
Sale Price
$212,088
$123,007
$98,972
-19.54%
-53.33%
% of Asking Price
92.96%
94.39%
93.93%
-0.49%
1.04%
Price/SqFt
$157
$96
$90
-6.25%
-42.68%
DOM*
155
145
124
-14.48%
-20%
Total Transactions
23
23
29
26.09%
26.09%

Single Family Homes Sales Trends in Gilbert, May 2009

May 2008 April 2009 May 2009 Monthly Change in % Annual Change in %
Asking Price
$299,504
$251,920
$222,311
-11.75%
-25.77%
Sale Price
$269,362
$245,415
$214,750
-12.5%
-20.27%
% of Asking Price
89.94%
97.42%
96.6%
-0.84%
7.4%
Price/SqFt
$125
$103
$95
-7.77%
-24%
DOM*
113
121
126
4.13%
11.5%
Total Transactions
350
359
430
19.78%
22.86%

Condos/Townhouses Sales Trends in Gilbert, May 2009

May 2008 April 2009 May 2009 Monthly Change in % Annual Change in %
Asking Price
$182,682
$119,556
$116,622
-2.45%
-36.16%
Sale Price
$173,628
$118,046
$111,016
-5.96%
-36.06%
% of Asking Price
95.04%
98.74%
95.19%
-3.6%
0.16%
Price/SqFt
$146
$84
$84
0%
-42.47%
DOM*
129
136
176
29.41%
36.43%
Total Transactions
9
17
22
29.41%
144.44%

Single Family Homes Sales Trends in Mesa, May 2009

May 2008 April 2009 May 2009 Monthly Change in % Annual Change in %
Asking Price
$262,792
$171,182
$166,382
-2.8%
-36.69%
Sale Price
$238,656
$163,109
$159,611
-2.14%
-33.12%
% of Asking Price
90.82%
95.28%
95.93%
0.68%
5.63%
Price/SqFt
$127
$90
$87
-3.33%
-31.5%
DOM*
123
123
118
-4.07%
-4.07%
Total Transactions
414
631
647
2.54%
56.28%

Condos/Townhouses Sales Trends in Mesa, May 2009

May 2008 April 2009 May 2009 Monthly Change in % Annual Change in %
Asking Price
$171,064
$107,353
$98,861
-7.91%
-42.21%
Sale Price
$152,597
$100,652
$93,752
-6.85%
-38.56%
% of Asking Price
89.2%
93.76%
94.83%
1.14%
6.31%
Price/SqFt
$129
$85
$76
-10.59%
-41.09%
DOM*
142
138
129
-6.52%
-9.15%
Total Transactions
61
75
64
-14.67%
4.92%

Single Family Homes Sales Trends in Queen Creek, May 2009

May 2008 April 2009 May 2009 Monthly Change in % Annual Change in %
Asking Price
$194,301
$136,281
$138,429
1.58%
-28.76%
Sale Price
$166,414
$133,574
$137,130
2.66%
-17.6%
% of Asking Price
85.65%
98.01%
99.06%
1.07%
15.66%
Price/SqFt
$79
$61
$62
1.64%
-21.52%
DOM*
107
97
98
1.03%
-8.41%
Total Transactions
374
475
495
4.21%
32.35%

Single Family Homes Sales Trends in Tempe, May 2009

May 2008 April 2009 May 2009 Monthly Change in % Annual Change in %
Asking Price
$297,494
$215,040
$217,430
1.11%
-26.91%
Sale Price
$276,067
$203,529
$207,845
2.12%
-24.71%
% of Asking Price
92.8%
94.65%
95.59%
0.99%
3.01%
Price/SqFt
$155
$114
$116
1.75%
-25.16%
DOM*
107
129
107
-17.05%
0%
Total Transactions
112
70
101
44.29%
-9.82%

Condos/Townhouses Sales Trends in Tempe, May 2009

May 2008 April 2009 May 2009 Monthly Change in % Annual Change in %
Asking Price
$233,471
$151,532
$143,178
-5.51%
-38.67%
Sale Price
$208,933
$140,364
$136,716
-2.6%
-34.56%
% of Asking Price
89.49%
92.63%
95.49%
3.09%
6.7%
Price/SqFt
$186
$122
$122
0%
-34.41%
DOM*
105
127
123
-3.15%
17.14%
Total Transactions
48
18
36
100%
-25%

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