Phoenix Uptown | North Central Phoenix Home Sales News
July 7th, 2008 categories: Market Trends, Uptown Phoenix
After a long 5 month downward trend in median price in North Central Phoenix or Uptown Phoenix, the point has come when the median price has come back up above $200,000 from its low of $196,000 in May 2008.
A total of 44 homes sold in June 2008 in zip codes 85012, 85013, 85014 or North Central Phoenix. in the Central Corridor itself 6 home sold with the average price of $340,284. Note also that the homes that did sell in the Central Corridor were on the market an average of over 280 days while the average for North Central Phoenix was 135 days.
On other important fact to note is that 12 of the 44 homes on the market sold at 100% of their asking price. This is important but in no way does it give any insight into the details of the market. Many of these homes could have been originally listed for more. Still the average list to sales ratio is 96.8%. That’s not too bad.
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Good to see some positive information on the market-I saw an increase in Gilbert Prices when I ran numbers this month- hopefully this trend will continue.
I hope it continues but, it looks like prices will continue to decline in Greater Phoenix. Some neighboroods are definelty doing much better then others.
Gilbert does seem to be one of the stronger markets. It’s probably the more vibrant job market?