January 23 - The average list price per sq. ft. for Greater Phoenix non-distressed listings under contract is just under $145 today. One year ago it was also just under $145. This shows us that pricing for homes going into escrow has been close to flat for the last 12 months.
However we are seeing fewer price cuts for active listings than we saw in January 2014. The current weekly rate of price cuts is about 2,300 per week while last year 2,900 per week was typical.
Overall we would say pricing is holding steady, as you would expect with the Cromford® Market Index close to 100.
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