For the second month in a row, the average price of existing home sales rose year-over-year in all five zones of NoPho, the I-17 corridor from Norterra to New River.
Across NoPho, 159 homes sold in September, down from 184 in August, but up slightly from 156 last September, according to the latest monthly analysis by North Phoenix News and In&Out Magazine. The seasonal slowdown is typical, owing to the heat of late summer and the start of school, among other factors. See Details for Each Zone:
Compared to August, inventories rose in September in the New River/Desert Hills zone, as well as Anthem’s Country Club, and the supply rose sharply in the Norterra area. Inventories were unchanged in Tramonto, while tightening further in Anthem Parkside.
The ongoing price increases locally mirror the picture nationally, where the average year-over-year price has risen for 78 straight months. The median price nationally was $264,800 in August, the most recent month reported by the National Association of Realtors.