Tempe, AZ Home Sales Trends 2000 - 2007
Jay Thompson at The Phoenix Real Estate Guy blog recently posted monthly sales trend info for Gilbert, AZ covering years 2000 through 2007. Borrowing his format (thanks Jay!), I've done a similar study for Tempe, AZ, a nearby city including comparisons to Jay's Gilbert study.
Here's a table of the raw data. 2007 was the lowest sales year in this time period.
Here's each year plotted by month. Unlike Gilbert, which typically has peak sales in June, Tempe has been peaking in May. Perhaps this is due to the nature of a college town in preparation for graduations etc and the associated sales of student related housing (that's my guess - any other ideas?). Another interesting difference is that Tempe's highest sales peak occurred in 2004 versus Gilbert's 2005. Otherwise, the curves are similar with lowest points in the November to January time-frame.
And finally, a plot of the data by month. Tempe's annual sales cycles had a milder ramp up to the peak, with higher peaks year to year until 2004. Interestingly, the lows were about the same year to year, as compared to Gilbert's higher year to year lows. More than likely, this was due to Gilbert's higher population (and home building) growth rate. According to www.census.gov, Tempe's population grew by 11,087 between 2000 and 2006. Gilbert grew by 81,820. Tempe is basically landlocked by surrounding cities with condo developments as the main future housing growth vehicle.
As with Jay's data, the Tempe data represents all dwelling types with sales closed in each calendar month. All data was pulled from the Arizona Multiple Listing Service (ARMLS) database, and is deemed reliable but not guaranteed.
Copyright © 2008 Rod Rebello
www.RodSellsAZhomes.com