Demand Strong for Lower-Priced Homes

The number of existing homes sold in NoPho, the I-17 corridor from Norterra to New River, declined across all five zones in March. Total sales were 167, compared to 208 last March. However, for the first three months of this year, total sales are just 4 percent lower than the same period last year, and buyer interest remained strong, especially for lower-priced homes that are frequently going under contract in a matter of days.

The recent, surprising drop in interest rates also has buyers excited.

Sale prices were a mixed bag, yet price per square foot held steady or rose across all zones. Meanwhile, inventory was flat or rose across the region, yet remains in seller’s-market territory, below the 6-month threshold.

For the most recent month reported nationally, home sales volume was down 1.8 percent in February compared to the year prior, and prices continued an 84-month upward trend with an average sales price of $249,500, 3.6 percent above February 2018.

See details by zone, including a list of every home sold:


Pre-Paid Solar System = Low APS Bills

ADVERTISEMENT
A truly special property! Nestled in a tiny, private cul de sac, this contemporary renovated Bonavista has stunning mountain + city light views from the front and back of the home. 
3 BEDS + DEN | 2 BATHS | 3-CAR GARAGE | 2,039 SQFT | $435,000
41401 N MAIDSTONE Ct., Anthem Country Club
Call 623-297-2557 or CLICK TO LEARN MORE

Robert Roy Britt
NoPho resident Robert Roy Britt has written for In&Out publications since its inception in 2005. Britt began his journalism career in New Jersey newspapers in the early 1990s. He later became a science writer and was editor-in-chief of the online media sites Space.com and Live Science. He has written four novels. Email the author.
Robert Roy Britt on Email

Robert Roy Britt

NoPho resident Robert Roy Britt has written for In&Out publications since its inception in 2005. Britt began his journalism career in New Jersey newspapers in the early 1990s. He later became a science writer and was editor-in-chief of the online media sites Space.com and Live Science. He has written four novels. Email the author.

npneditor has 455 posts and counting.See all posts by npneditor