Strong April Sales Shrink Stock of NoPho Homes
The number of existing homes sold across NoPho, the I-17 corridor from Norterra to New River, reached the highest level since August, driving inventory down and keeping the seller’s market solidly in place. The 189 homes sold in April was up 13.2 percent from March and was 10.5 percent higher than last April. Anthem and the Tramonto/Sonoran Foothills area drove the increase.
Prices were a mixed bag, while price per square foot rose across all five zones year-over-year.
Inventory inched up slightly in the Tramonto/Sonoran Foothills area but fell in each of the other zones. Anthem Parkside inventory hasn’t been this low in any month going back to at least late 2016.
Nationally, existing home sales fell 4.9 percent in March, the most recent month analyzed, compared to last March. The median price across the country was $259,400 in March, up 3.8 percent year-over-year—the 85th month in a row of increases.
Details on each zone: