Median up, sales down in Phoenix Housing
Median price up again!
According to the STAT report from ARMLS (Arizona Regional Multiple Listing Service), in August, the median sales price was $180,200 and average sales price was $235,800.
However… total sales were down 14% in volume from July, and down 6.9% from a year earlier. Why? Shortage of supply in the lower prices ranges, and a jump in mortgage rates are two primary drivers.