Data through June 2015 shows single-family residential median home prices spiked in a year-over-year comparison, according to Yavapai County Assessor Pamela J. Pearsall. The median sales price of a single-family home in June 2015 was $256,750 compared to $232,305 from June 2014; resulting in a gain of 10.5 percent for that month.
To give perspective to the Yavapai County market, Pearsall pointed out that the National Association of Realtors is reporting that the national median single-family home sales price in the second quarter of 2015 was $229,400. This is up 8.2 percent from the second quarter of 2014 ($212,000). The median price during the first quarter of this year increased 7.1 percent from a year earlier.
Assessor Pearsall noted, the median sales price of homes in Yavapai County for all of calendar year 2015 continues to hold an increase over 2014 and now stands at $242,500. This figure is up 5.7 percent over the $229,500 median sales price from calendar year 2014. The current 2015 median sales price includes sales from January up to and through July. The current median sales price of $242,500 is now 13.7 percent below the 2006 bubble median price of $280,900 in Yavapai County.
The average square footage of homes sold in June of 2015 is 2,005 compared with 1,891 for June of 2014. The highest price paid for a home in June of 2015 was $4.2 million for a 5,584-square-foot residence while the lowest price paid was $15,000 for a 504-square-foot residence.
All sales information is based on recorded Affidavits of Property Value, said Pearsall.