Phoenix Zip 85007 Shows 8% Gain in Houses Sold

Phoenix, Arizona zip code 85007 reported a total of 145 residential homes sold year to date through October 2015 as the average price of $237,068 posted a net advance of 2.7% from the same time range a year ago. In comparison to the same time period a year ago, which posted 134 sold homes, 85007 had an 8.2% gain in total number of sold residential listings, a year-to-year net rise 11 closed transactions. The 300,000-399,999 price range saw one of the greatest numbers of homes sales this year with 22 completed purchases.

Property Listing Prices Record 6.2% Rise. As of October 2015, 85007 saw 275 active homes for sale this year, and the 300,000-399,999 price range posted one of the highest numbers of houses for sale with 49 properties. When compared to this time period one year ago, which reported 270 for sale homes, 85007 showed a 1.9% improvement in the overall amount of active residential listings, a year-over-year gain of 5 units. The area's average year-to-date active list price posted an advance of 6.2% in comparison to the same reporting period in 2014, rising to $262,748. Properties for sale are requiring more days on market to sell this year on average. Compared to the same period in 2014, the cumulative days on market (CDOM) for active residences for sale in 85007 was 82 days, a rise of 5.1%.

Sam Lawmaster is a 85007 real estate agent and market specialist. Information courtesy of ARMLS and deemed reliable but not guaranteed; percentages rounded. To receive the most current local real estate market info or to obtain a free evaluation of your current home, please call Sam with Realty ONE Group at (602) 680-8096 or contact us here.

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