We, the Urban Team, were recently asked to give some insight into the most affordable areas to buy homes in the Greater Phoenix region. The answer to this question is outlined in the chart below.
The chart ranks 41 cities/towns from most expensive to least based on the current average price per square foot sales prices. The chart also compares last year's numbers with this year's and give us a percent of change.
We found Phoenix's percentage of change a pretty extraordinary at 45.3%. We believe the percentage of change and average $/sq/ft/ figures are tipped low due to the dominance of low-priced bank owned home sales. This figure will adjust upwards as we see more mid-high priced home sales. Of little surprise is the weakness of outline city home values.
If you have specific questions about an area's performance, we love to share our thoughts and opinions. Just let us know.
Happy Monday Urban Life readers.
Gene Urban
The Urban Team at Realty Executives
602-234-5777
