January 17, 2012
Good news, everyone!
Redfin just released a major upgrade to our photos in Phoenix. As you may have noticed, photos of Phoenix area homes on Redfin were previously rather resolution-challenged. No more! Allow me to demonstrate, using a photo of one of our listings in Chandler at 2104 W Cheyenne Drive.
Old
New
But wait, the new photo is so big, it doesn’t even fit on this page! I had to crop it down just to show it to you here. Click the pic to view the glorious, full-sized, high-resolution version. If you think you can handle it, that is.
So what are you waiting for? Start searching Phoenix-area homes and enjoy their new big, beautiful photos on Redfin!
December 29, 2011
It’s time for our monthly check-in of the S&P/Case-Shiller Home Price Indices (HPI). The Case-Shiller data is generally considered to be the most reliable measure of overall home price changes for a region, since they only consider repeat sales of homes when calculating their index, instead of looking at all the homes that sold in a given month.
For the full source data behind this post, hit the S&P/Case-Shiller website. For a more detailed explanation of how the Case-Shiller Home Price Index is calculated, check out their methodology pdf. Also remember that the data released on the last Tuesday of a given month is for the period two months prior (i.e. – October data is released in December).
Here are the basic Case-Shiller stats for the Phoenix area* as of October:
October 2011
Month to Month: Up 0.3%
Year to Year: Down 5.1%
Prices at this level in: February 2000
Peak month: June 2006
Change from Peak: Down 55.8% in 64 months
Low Tier: Under $95,898
Mid Tier: $95,898 to $168,948
Hi Tier: Over $168,948
Nineteen of the twenty metro areas tracked by Case-Shiller saw a decrease in their HPI between September and October (vs. eighteen from August to September): Only Phoenix saw an increase. Wait, Phoenix? Yup, Phoenix. Atlanta fell the most in October (again), falling a whopping 5.0% in a single month.
Here’s a look at the latest local tiered data, back through 2000:
And here’s a closer look at the recent changes, with the vertical and horizontal axes zoomed in to show just the last year:
All three of Phoenix’s tiers rose in October, with the low tier taking the biggest gain. Month to month, the low tier was up 1.5%, the middle tier rose 0.4%, and the high tier increased 0.4%.
In this next chart, I’ve visualized the month to month trends of all twenty Case-Shiller-tracked cities. Green and above the horizontal axis if they were increasing in the month charted, red and below the axis if they were decreasing. I’ve excluded 2000 through 2004 since they looked largely the same as 2005 (mostly green).
Just four months ago, all twenty cities saw month to month gains. Now just one is not the red.
Read the rest of this entry »
December 6, 2011
Over on the national blog, we just posted another big analysis of hundreds of thousands of listings and sales. Here are the numbers for Phoenix, where winter is still a winning time to list your home for a quick sale, a better chance of selling, and a better price:
Since so much of the Phoenix market these days consists of bank owned homes and short sales, Marcus asked that we also pull the local data excluding distressed inventory. Here’s what the numbers look like if you only consider non-distressed homes:
Homes listed in winter still sell faster than those listed in summer or fall. A greater percent of homes listed in winter eventually sell than in other seasons, and homes listed in winter sell closest to their original list price.
November 30, 2011
It’s time for our monthly check-in of the S&P/Case-Shiller Home Price Indices (HPI). The Case-Shiller data is generally considered to be the most reliable measure of overall home price changes for a region, since they only consider repeat sales of homes when calculating their index, instead of looking at all the homes that sold in a given month.
For the full source data behind this post, hit the S&P/Case-Shiller website. For a more detailed explanation of how the Case-Shiller Home Price Index is calculated, check out their methodology pdf. Also remember that the data released on the last Tuesday of a given month is for the period two months prior (i.e. – September data is released in November).
Here are the basic Case-Shiller stats for the Phoenix area* as of September:
September 2011
Month to Month: Down 0.2%
Year to Year: Down 6.5%
Prices at this level in: January 2000
Peak month: June 2006
Change from Peak: Down 55.9% in 63 months
Low Tier: Under $94,963
Mid Tier: $94,963 to $167,973
Hi Tier: Over $167,973
Seventeen of the twenty metro areas tracked by Case-Shiller saw a decrease in their HPI between August and September (vs. eleven from July to August): Only Washington DC, New York, and Portland rose. Atlanta fell the most in September, falling a whopping 5.9% in a single month.
Here’s a look at the latest local tiered data, back through 2000:
And here’s a closer look at the recent changes, with the vertical and horizontal axes zoomed in to show just the last year:
The low and middle tiers in Phoenix actually gained a bit of ground in September, but the high tier’s losses offset them in the aggregate index. Month to month, the low tier was up 0.6%, the middle tier rose 0.3%, and the high tier decreased 0.5%.
In this next chart, I’ve visualized the month to month trends of all twenty Case-Shiller-tracked cities. Green and above the horizontal axis if they were increasing in the month charted, red and below the axis if they were decreasing. I’ve excluded 2000 through 2004 since they looked largely the same as 2005 (mostly green).
Just three months ago, all twenty cities saw month to month gains. Now only three have avoided falling into the red.
Read the rest of this entry »
October 25, 2011
It’s time for our monthly check-in of the S&P/Case-Shiller Home Price Indices (HPI). The Case-Shiller data is generally considered to be the most reliable measure of overall home price changes for a region, since they only consider repeat sales of homes when calculating their index, instead of looking at all the homes that sold in a given month.
For the full source data behind this post, hit the S&P/Case-Shiller website. For a more detailed explanation of how the Case-Shiller Home Price Index is calculated, check out their methodology pdf. Also remember that the data released on the last Tuesday of a given month is for the period two months prior (i.e. – August data is released in October).
Here are the basic Case-Shiller stats for the Phoenix area* as of August:
August 2011
Month to Month: Down 0.1%
Year to Year: Down 7.7%
Prices at this level in: February 2000
Peak month: June 2006
Change from Peak: Down 55.8% in 62 months
Low Tier: Under $94,647
Mid Tier: $94,647 to $167,632
Hi Tier: Over $167,632
Ten of the twenty metro areas tracked by Case-Shiller saw a decrease in their HPI between July and August (vs. two from June to July): Phoenix and Las Vegas. Washington DC. saw the biggest increase this month, followed closely behind by Detroit and Chicago.
Here’s a look at the latest local tiered data, back through 2000:
And here’s a closer look at the recent changes, with the vertical and horizontal axes zoomed in to show just the last year:
Phoenix’s middle tier rose in August, but the low tier lost ground. Month to month, the low tier was down 0.2%, the middle tier rose 0.3%, and the high tier was flat.
Here’s a new chart for you. In this one, I’ve visualized the month to month trends of all twenty Case-Shiller-tracked cities. Green and above the horizontal axis if they were increasing in the month charted, red and below the axis if they were decreasing. I’ve excluded 2000 through 2004 since they looked largely the same as 2005 (mostly green).
The effects of 2009′s homebuyer tax credit are dramatically visible in this chart, as is the fairly strong spring we had this year, hitting 20 cities increasing for the first time since July 2005. However, the sudden drop-off of month-over-month gains in August’s data is interesting, since during a “normal” year we wouldn’t expect to see this many cities in the red until December or January. I think this indicates that there is still quite a bit of weakness in home prices.
Read the rest of this entry »
September 27, 2011
Before we get going with this month’s Case-Shiller post, I’d like to apologize for the lack of an update last month. Long story short, this particular duty slipped through the cracks while I was out on leave. We heard from a number of readers who were lamenting the missing post. Rest assured, we have heard you and it will not happen again!
It’s time for our monthly check-in of the S&P/Case-Shiller Home Price Indices (HPI). The Case-Shiller data is generally considered to be the most reliable measure of overall home price changes for a region, since they only consider repeat sales of homes when calculating their index, instead of looking at all the homes that sold in a given month.
For the full source data behind this post, hit the S&P/Case-Shiller website. For a more detailed explanation of how the Case-Shiller Home Price Index is calculated, check out their methodology pdf. Also remember that the data released on the last Tuesday of a given month is for the period two months prior (i.e. – July data is released in September).
Here are the basic Case-Shiller stats for the Phoenix area* as of July:
July 2011
Month to Month: Down 0.1%
Year to Year: Down 8.8%
Prices at this level in: February 2000
Peak month: June 2006
Change from Peak: Down 55.8% in 61 months
Low Tier: Under $94,859
Mid Tier: $94,859 to $167,547
Hi Tier: Over $167,547
Only two of the twenty metro areas tracked by Case-Shiller saw a decrease in their HPI between June and July (vs. none from May to June): Phoenix and Las Vegas. Weirdly, Detroit saw the biggest increase, followed by Minneapolis.
Here’s a look at the latest local tiered data, back through 2000:
And here’s a closer look at the recent changes, with the vertical and horizontal axes zoomed in to show just the last year:
Phoenix’s low and middle tiers actually rose in July, but the high tier’s decline brought the overall index into the red for the month. Month to month, the low tier was up 0.5%, the middle tier rose 0.3%, and the high tier decreased 0.2%.
Read the rest of this entry »
July 29, 2011
It’s time for our monthly check-in of the S&P/Case-Shiller Home Price Indices (HPI). The Case-Shiller data is generally considered to be the most reliable measure of overall home price changes for a region, since they only consider repeat sales of homes when calculating their index, instead of looking at all the homes that sold in a given month.
For the full source data behind this post, hit the S&P/Case-Shiller website. For a more detailed explanation of how the Case-Shiller Home Price Index is calculated, check out their methodology pdf. Also remember that the data released on the last Tuesday of a given month is for the period two months prior (i.e. – May data is released in July).
Here are the basic Case-Shiller stats for the Phoenix area* as of May:
May 2011
Month to Month: Flat
Year to Year: Down 9.5%
Prices at this level in: January 2000
Peak month: June 2006
Change from Peak: Down 55.9% in 59 months
Low Tier: Under $95,997
Mid Tier: $95,997 to $168,172
Hi Tier: Over $168,172
Only three of the twenty metro areas tracked by Case-Shiller saw a decrease in their HPI between April and May (down from 7 in April and 18 in March). Boston ousted DC for the biggest increase, gaining 2.7% on the month. Only Tampa, Las Vegas, and Detroit continued to fall.
Here’s a look at the latest local tiered data, back through 2000:
And here’s a closer look at the recent changes, with the vertical and horizontal axes zoomed in to show just the last year:
Overall Phoenix’s home price index was flat, but the tiers varied pretty wildly. Month to month, the low tier was up 1.4%, the middle tier fell 0.7%, and the high tier increased 0.3%.
Read the rest of this entry »
July 14, 2011
In case you missed it over on the corporate blog, Redfin has just launched our Android app!
(And there was much rejoicing.)
Android fans have been very, very vocal about wanting their own Redfin app, and thanks to the hard work of a crack team of engineers, the day has arrived.
Go find out more! Go! Go you crazy kids! Be free!
Photo courtesy Stéfan via Flickr.
July 8, 2011
I hope everyone had a great holiday weekend. I spent mine lying on the couch, mewling like a sick kitten, but that’s neither here nor there.
I was a Redfin addict before I was an employee, and sometimes I forget that there’s a lot of stuff on our site that not everybody knows about. Some of these are big things, like the fact that we’re a real live brokerage with real live agents. Others are a bit nittier and grittier, like the sheer number of different ways we try to slice and dice data to share with anyone who wants it.
Example: Our Phoenix neighborhoods and zip codes page (or see other nearby cities). This page doesn’t get an awful lot of traffic, but it should, because it’s just obscenely useful. It basically shows you the median list price, median price per square foot, sale-to-list percentage, and number of homes for sale in the entire local area, broken down both by neighborhood name and by zip code.
You can also sort this information by any of the above columns; if you want to see every neighborhood sorted by sale-to-list percentage, just click on that column header and the data will re-sort.
And if you click on any of the neighborhood names or zip codes, we’ll show you another page with information specific to that area, including:
- New homes for sale
- Upcoming open houses
- Price-reduced homes
- Recently-sold homes
- Most expensive homes
- Least expensive homes
- And most popular (on Redfin) homes
This neighborhood/zip code profile page also gives you trend charts and graphs that you can customize and even import to your own website or blog, links to related forums posts, comparisons with other nearby areas, and profiles of area schools.
If you haven’t seen these pages, you should check them out. And if you’re already using them, you should drop us a line below to let us know what you think of them. Ideas and suggestions are always welcome! (Cruel, cutting remarks are not particularly welcome, but are taken with a stiff upper lip.)
June 28, 2011
It’s time for our monthly check-in of the S&P/Case-Shiller Home Price Indices (HPI). The Case-Shiller data is generally considered to be the most reliable measure of overall home price changes for a region, since they only consider repeat sales of homes when calculating their index, instead of looking at all the homes that sold in a given month.
For the full source data behind this post, hit the S&P/Case-Shiller website. For a more detailed explanation of how the Case-Shiller Home Price Index is calculated, check out their methodology pdf. Also remember that the data released on the last Tuesday of a given month is for the period two months prior (i.e. – April data is released in June).
Here are the basic Case-Shiller stats for the Phoenix area* as of April:
April 2011
Month to Month: Up 0.1%
Year to Year: Down 8.8%
Prices at this level in: January 2000
Peak month: June 2006
Change from Peak: Down 55.9% in 58 months
Low Tier: Under $96,883
Mid Tier: $96,883 to $168,999
Hi Tier: Over $168,999
Only seven of the twenty metro areas tracked by Case-Shiller saw a decrease in their HPI between March and April (down from eighteen the previous month). The biggest increase was in Washington DC again with a solid 3.0% gain. Other markets that saw increases above 1% were San Francisco (+1.7%), Atlanta (+1.6%), Seattle (+1.6%), Denver (+1.5%), and Cleveland (+1.2%).
Here’s a look at the latest local tiered data, back through 2000:
And here’s a closer look at the recent changes, with the vertical and horizontal axes zoomed in to show just the last year:
Phoenix’s low and high tiers both turned in increases in April, but the middle tier continued to drop. Month to month, the low tier was up 0.9%, the middle tier fell 0.4%, and the high tier increased 0.3%.
Read the rest of this entry »
