Since 2000, the local resale housing market has been consistently setting new records for activity. In a rapidly growing area like Greater Phoenix, new records should be expected.

The townhouse/condominium housing sector was also very strong in 2005. While sales activity increased 8.5 percent in 2005 over 2004, the median home price in Maricopa County increased from $194,000 in January 2005 to $260,000 in December 2005, or a 34 percent increase.

Meanwhile, the median square footage for a single-family home is decreasing, having gone from 1,685 square feet at the end of 2004, to 1,640 square feet in 2005. The median square footage of a townhouse/condo decreased from 1,150 square feet to 1,120 square feet over the same period.

While Greater Phoenix home market is still well below most of California, it is now well above the national median sales price of $215,900. Here is the detailed comparison of home prices by city/town in Greater Phoenix, as of December 2005.