Cromford Daily Observation - Ranking the major & secondary cities by their annual percentage change in annual median sales price (single family only) we find the following:
- Arizona City - up 17.3% to $100,000
- Apache Junction - up 13.3% to $169,900
- Tolleson - up 12.4% to $179,900
- Sun City - up 12.2% to $165,000
- Glendale - up 11.9% to $210,000
- Avondale - up 11.8% to 190,000
- Sun City West - up 11.7% to $210,000
- Surprise - up 11.4% to $215,000
- Buckeye - up 11.3% to $182.500
- El Mirage - up 10.9% to $152,000
- Laveen - up 10.8% to $195,000
- Anthem - up 10.4% to $289,900
- Phoenix - up 9.7% to $224,900
- Maricopa - up 9.3% to $165,000
- Mesa - up 9.0% to $223,000
- Queen Creek - up 8.8% to $199,900
- Tempe - up 7.9% to $263,250
- Litchfield Park - up 7.8% to $275,000
- Goodyear - up 7.0% to $245,995
- Casa Grande - up 6.7% to $159,000
- Cave Creek - up 6.3% to $425,000
- Peoria - up 5.7% to $255,000
- Scottsdale - up 4.8% to $492.500
- Gilbert - up 4.6% to $275,000
- Chandler - up 4.6% to $277,250
- Fountain Hills - up 3.3% to $428,500
- Gold Canyon - up 2.4% to $255,950
- Sun Lakes - up 1.4% to $255,400
- Paradise Valley - up 0.9% to $1,437,500
The Cromford® Market Indexes for the single family markets in the largest 17 cities confirm we are still in a favorable situation for sellers:
Only 4 of the 17 cities showed any deterioration and the major decline was in Avondale, which could stand some cooling down after what seems like an eternity at the top of our table.
Perhaps the biggest surprise is the strengthening of Paradise Valley which is no longer at the bottom of the table thanks to an expected big decline in supply and an unexpected improvement in demand.
Tempe is probably another surprise, now at the bottom of our table thanks to its supply index rising to its highest level since 2014.
Overall this is a positive picture for sellers with 15 cities in a seller's market and 2 in the balanced zone between 90 and 110.
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