Phoenix 85016 Sees 12% Rise in Active House Listing Prices

By the end of August 2015, Phoenix, Arizona zip code 85016 recorded a total of 1,020 active houses for sale this year, and the 300,000-399,999 price range posted one of the greatest numbers of homes for sale with 151 properties. The overall inventory of active listings in 85016 posted a 7.4% advance over the same time period last year, which posted 950 houses for sale, a year-over-year increase of 70 properties. The area's year-to-date average active listed price posted an advance of 11.8% when compared to the same time range one year ago, coming in at $496,903. Home listings are taking less time to sell this year on average. Compared to the same reporting period in 2014, the cumulative days on market (CDOM) for active home listings for sale in 85016 was 74 days, a decrease of 11.9%.

Sold Home Prices Show 10% Uptick. 85016 posted a total of 512 properties sold year to date through the month of August 2015. The average closed sales price of $358,341 showed an increase of 10.4% over the average price of $324,525 from the same time range one year ago. The overall amount of sold residential listings in 85016 had a 9.2% advance over the same time range a year ago, which posted a volume of 469 sold properties, a year-over-year increase of 43 closed transactions. The 200,000-249,999 price category had one of the greatest numbers of closed sales this year at 72 completed purchases.

Information provided by ARMLS and deemed reliable but not guaranteed; percent changes rounded. For the most recent local real estate info or to request a free evaluation of your current property, please call 85016 Realtor Sam Lawmaster with Realty ONE Group at (602) 680-8096 or contact us here.

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