REal Estate Market Statistics

2010 - 1st Quarter

What's happened with the Average Sales price over the course of the decade?

In January 2001, the average sales price was $171,900. January 2002 and 2003 were both at $184,100 and $184,200 respectively with 2004 showing another typical increase up to $206,100 and January 2005 at $255,500. The peak buying was in 2005 but the peak prices came much later. Jan 2007 had an average sales price of $342,400 but the highest value of $350,500 didn't hit the chart until May 2007.

So where are we now? First note that the lowest average sales price since that high month of May of 2007 came just 21 months later and had dropped 54.6% to $159,080. As of February 2010, the average sales price is $173,870 and appears to be increasing. Click here to view chart.

What is the "Average Sales Price" mean? It is the average gross price recorded as paid for homes sold during the quarter. Add all the sales prices of all the homes sold and divide by the number of homes sold and you have the "average sales price".

Next on the agenda to explore is "The Median Sales Price".

What are your questions about the market? Talk to me

Melissa at UniqueScottsdaleHomes dot com