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Phoenix Area House and Condo Prices - December 2012

Quarterly Metro Phoenix Area Home Prices Analysis

This is a comparison of the median prices for houses, townhouses, and condos in the Greater Phoenix area from the month December 2012 to December 2011. 

Before March 2012 I used to report only median prices. Now I include data for both average and median prices for both new single-family homes and normal resale homes (not short sales or foreclosures) in Maricopa County. I also include the average prices of townhouse/condo sales.  

What's the difference between median and average? Keep in mind that the median price is not the same as the average price, and that these numbers do not imply that any/all homes sold at either the median or average price. The data for the following table was provided by the W.P. Carey School of Business at Arizona State University.

Arizona House Prices
Month Ending December 31, 2012 vs. Month Ending December 31, 2011

December 2012

  Single-family
New Homes
Average Price (US$)
Single-family
New Homes
Median Price (US$)
Single-family
Normal Resale Homes 
Average Price (US$)
Single-family
Normal Resale Homes 
Median Price (US$)
Townhouse or Condo - All Sales 
Average Price (US$)
Anthem 428,000 428,000 255,683 239,000 118,500
Apache Junction1 135,478 133,246 162,687 150,000 48,250
Avondale     135,657 135,500  
Buckeye 231,384 223,331 163,503 124,900  
Carefree     925,817 780,000 172,300
Cave Creek 383,668 372,811 369,794 357,500 239,274
Chandler 364,491 366,541 262,078 222,500 114,381
El Mirage 149,250 149,250 107,648 105,000  
Fountain Hills     461,302 385,000 157,524
Gilbert 296,404 278,208 244,404 211,500 125,413
Glendale 286,301 219,764 166,496 146,500 55,982
Goodyear 260,149 238,838 201,260 183,950 144,680
Laveen 179,363 168,400 148,565 145,000 104,600
Litchfield Park 254,262 248,432 193,096 166,000 126,381
Mesa 284,329 258,869 191,644 157,500 96,095
New River 330,777 321,305 281,400 282,000  
Paradise Valley     1,157,654 925,000 282,917
Peoria 319,137 298,395 218,615 180,000 87,773
Phoenix 343,377 310,190 202,644 139,950 105,098
Queen Creek2 254,081 242,573 251,907 200,000  
Rio Verde     368,071 100,000  
Scottsdale 2,037,988 945,000 606,164 482,750 233,338
Sun City 198,882 201,157 124,754 119,500 64, 978
Sun City West     198,679 192,500 95, 987
Sun Lakes     205,524 166,000 146,667
Surprise 182,272 173,736 192,361 162,500 74,721
Tempe     220,440 187,500 125,862
Tolleson 173,559 173,471 127,542 127,000  
Wickenburg     171,375 121,250 129,900
Youngtown     104,750 118,000  
         
Maricopa County 294,104 262,893 256,309 179,000 130,938

December 2011

  Single-family
New Homes
Average Price (US$)
Single-family
New Homes
Median Price (US$)
Single-family
Normal Resale Homes 
Average Price (US$)
Single-family
Normal Resale Homes 
Median Price (US$)
Townhouse or Condo - All Sales 
Average Price (US$)
Anthem     281,167 287,000 95,117
Apache Junction1 192,278 192,278 173,048 168,000 57,000
Avondale 138,915 134,990 109,949 105,339 67,000
Buckeye 175,901 160,663 141,523 117,000  
Carefree     715,700 591,000 228,333
Cave Creek 420,405 424,988 337,847 360,000 202,840
Chandler 323,806 309,319 245,471 212,500 81,309
El Mirage     72,162 69,250  
Fountain Hills     383,163 383,950 169,457
Gilbert 231,297 192,143 244,754 214,750 89,143
Glendale 162,411 165,000 132,665 110,000 38,296
Goodyear 267,749 269,096 189,081 195,000 45,100
Laveen 180,161 159,346 110,843 97,500 86,900
Litchfield Park 191,958 192,510 582,643 350,000 127,269
Mesa 305,250 296,642 171,517 135,000 72,500
New River 204,483 204,483 288,111 165,000  
Paradise Valley     1,361,740 1,300,000 297,267
Peoria 307,472 296,836 186,484 153,000 78,234
Phoenix 284,955 233,288 162,207 115,000 80,604
Queen Creek2 270,515 268,347 282,250 230,000  
Rio Verde     301,024 190,000 535,000
Scottsdale 734,506 686,111 569,918 434,000 189,684
Sun City 207,499 183,643 112,211 100,000 56,671
Sun City West 203,718 202,000 183,461 160,000 82,375
Sun Lakes     202,958 180,000 186,833
Surprise 177,175 176,604 169,460 152,500 52,829
Tempe     194,645 160,000 113,964
Tolleson 144,839 142,342 92,041 89,900  
Wickenburg     244,500 184,500 78,833
Youngtown     38,500 38,500 34,465
         
Maricopa County 257,514 228,276 237,704 155,500 104,296

 

1Includes both Maricopa and Pinal County transactions. 
2Includes only Maricopa County transactions.

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