Home Sales Soar, Inventory Shrinks

Sales of existing homes rose dramatically in May across NoPho, the I-17 corridor from Norterra to New River, to 237. That’s up 25.4 percent from April, up 14.5 percent from last May, and is the highest single month in the three-plus years that In&Out has been tracking the market.

Inventory plunged in Anthem Country Club to a low not seen since December 2016, and it fell notably in every zone except Anthem Parkside, where supply was already extremely tight.

As in other recent months, overall average sales prices were mixed, but price per square foot continued to climb in all but the rural zone, reflecting the high demand for lower-priced homes amid a clear seller’s market.

The robust local market is in stark contrast to the national picture. Existing home sales nationwide in April, the most recent month available, fell 4.4 percent year-over-year, and pending sales for May declined slightly compared to the previous month and the previous year. The median home price in the country was $267,300 in April, up 3.6 percent from April 2018, representing the 86th straight month of increases.

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 | $419,000
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 481 posts and counting.See all posts by npneditor