Comparing 2015 Phoenix Home Prices with 2016

Let's compare homes prices during the first 6 months of 2015 with the first month of 2016. It's easiest to get a true comparison when breaking it down by price points.

• Under $200K - sales are down 5.9% but average price per sq. ft. is up 8.4% to $100.36 - price segment suffers from inadequate supply
• Between $200K and $500K - sales are up 24.7% and average price per sq. ft. is up 2.5% to $136.98 - demand and supply are both booming
• Between $500K and $1M - sales are up 18.2% but average price per sq. ft. is down 0.3% to $199.64 - demand is up but supply is excessive
• Between $1M and $2M - sales are flat and average price per sq. ft. is also flat at $298.12 - demand and supply are both flat with supply excessive
• Over $2M - sales are down 8.1% but average price per sq. ft. is up 3.1% to $460.68 - excessive supply, weaker demand but average $/SF holding thanks to new home sales gaining share