Winfield Community August 2020 Market Reports

Winfield Mountains

Real Estate Market Trends for 85266

We are at a point in the housing market where many all-time records are being broken. First, the monthly average sale price per square foot for 85266 stands at $292 today. This is significant because it breaks the record set as long ago as May 5, 2006. The difference is that May 2006 represented the dying peak of a bubble which would see prices fall dramatically from June 2006 through March 2009.

July 2020 saw more closed listings in a single month than we have ever seen before. At the time of writing, there were 10,544 closed listings in the Greater Phoenix area with a close of escrow date in July 2020. The previous record was set in May 2019 with 10,525, a remarkable total, as July is normally a rather quiet month. Peak months are usually March through June. The capacity for the housing industry to keep going during a pandemic is no longer in question.

The monthly median sales price for 85266 July and June was $840,000, an 8.3% increase from May 2020. The number of closed listings hit a record high in July, along with average sales prices. It should, therefore, come as no surprise that dollar volume was also at a record high level in July. In fact, July 2020 was the first month in history where dollar volume exceeded $4 billion.

 

 

Data from the Cromford Report and the ARMLS as of August 4th, 2020. Deemed accurate but not guaranteed.