Sales Growth Q1 2016 - Q1 2017

Let us try and get a picture of the sales growth that occurred in Q1 of 2017 by comparing it with Q1 of 2016.

For all property types within Greater Phoenix, we saw an overall 13.6% growth in closed listings from 13,214 in 2016 to 15,008 in 2017. Looking at dollar volumes, these grew by 21.3% from $3.6 billion to $4.4 billion.

The significant ZIP codes with the most growth in dollar volume were:

1. Wittmann 85361 - up 199%
2. Eloy 85131 - up 104%
3. Youngtown 85363 - up 93%
4. Surprise 85378 - up 88%
5. Phoenix 85031 - up 84%
6. Phoenix 85012 - up 76%
7. Glendale 85302 - up 74%
8. New River 85087 - up 71%
9. Glendale 85307 - up 66%
10. Avondale 85392 - up 65%
11. Phoenix 85085 - up 60%
12. Mesa 85201 - up 58%
13. Peoria 85383 - up 55%
14. Avondale 85323 - up 54%
15. Mesa 85202 - up 53%
16. Phoenix 85040 - up 52%
17. Waddell 85355 - up 52%
18. Mesa 85215 - up 51%
19. Phoenix 85028 - up 47%
20. Phoenix 85033 - up 47%

This list is dominated by the West Valley, particularly the Northwest Valley.

The following significant ZIP codes failed to participate in the overall trend in dollar volumes:

1. Mesa 85203 - down 19%
2. Chandler 85226 - down 9%
3. Phoenix 85053 - down 7%
4. Phoenix 85013 - down 6%
5. Phoenix 85042 - down 5%
6. Fountain Hills 85268 - down 4%
7. Cave Creek 85331 - down 4%
8. Queen Creek 85142 - down 2%
9. Phoenix 85004 - down 2%
10. Phoenix 85029 - flat

By "significant" we mean ZIP codes with at least 20 sales a year or an annual dollar volume of over $10 million.

For the Northeast Valley, we see growth in dollar volume as follows:

1. Scottsdale 85257 - up 36%
2. Scottsdale 85251 - up 33%
3. Scottsdale 85260 - up 29%
4. Rio Verde 85263 - up 29%
5. Carefree 85377 - up 28%
6. Scottsdale 85258 - up 27%
7. Scottsdale 85259 - up 25%
8. Phoenix 85016 - up 24%
9. Phoenix 85054 - up 20%
10. Scottsdale 85255 - up 20%
11. Scottsdale 85262 - up 13%
12. Scottsdale 85250 - up 11%
13. Paradise Valley - up 11%
14. Scottsdale 85266 - up 6%
15. Scottsdale 85254 - up 6%
16. Phoenix 85018 - up 5%
17. Fountain Hills 85268 - down 4%
18. Cave Creek 85331 - down 4%

Here we see the dominance of South and Old Town Scottsdale.

There are several ZIP codes that grew dollar volume but failed to grow average price per square foot. Carefree 85377, Scottsdale 85262 and Scottsdale 85259 all fall into that category. We will look at the Q1 price movements by ZIP code tomorrow.