The Bottom Line: Pinal County home sales slow, but prices are still going up - East Valley Tribune: Business

The Bottom Line: Pinal County home sales slow, but prices are still going up

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Posted: Wednesday, April 19, 2006 6:20 am | Updated: 4:08 pm, Fri Oct 7, 2011.

Like the rest of the metropolitan area, home sales slowed in Pinal County during the fourth quarter of 2005, according to the Arizona Real Estate Center at Arizona State University Polytechnic.

The numbers show a trend the area may be losing its low-cost benefits.

There were 1,280 resale homes sold in Pinal County during the fourth quarter, down from 1,550 in the third quarter. But the latest quarter was stronger than the fourth quarter 2004 when 1,135 homes were sold. For all of 2005, sales increased to 6,050 from 3,790 in 2004.

“We’ve seen the resale activity slowing really since the second quarter 2005,” said Jay Butler, center director. “For a lot of people, as the home prices went up, they ran from $186,000 to $216,000, the competitive edge some of these communities have given travel times and other things over some areas of

Tempe, Mesa and other parts is sort of disappearing.”

For fourth quarter 2005, the median home price in Pinal County was $216,500, while it was $213,500 in the third quarter and $145,000 in the fourth quarter 2004. During the fourth quarter, the median home price in Pinal County was 83 percent of the $260,000 median price during the same time period in Maricopa County.

In 2004, the median resale price in Pinal County was $137,500. It increased 38 percent to $189,000 in 2005. In Maricopa County, the median price also increased 38 percent from $174,815 in 2004 to $240,500 in 2005.

BIZ RADIO

If you’re a public radio junkie, it’s worth noting the business news program, Marketplace, will make a stop in the Valley later this month.

Kai Ryssdal, the host of the American Public Media show, will broadcast from KJZZ (91.5 FM) on April 27 and 28. Marketplace airs weekdays at 6 p.m.

Ryssdal will meet with local public radio listeners to discuss the show’s recent live coverage from China.

In January, the program spent two weeks in China reporting on the growing impact of China on the global economy through the stories of everyday Chinese citizens.

The meeting will be from 7 to 8:30 p.m. April 27 at at the Arizona Historical Society Museum Auditorium in Tempe.

Tickets are $20 to attend the lecture and $30 for VIP seating and a wine and gourmet hors d’oeuvres reception.

Call (480) 774-8450 for tickets.

BOTTOMS UP

Some local business boosters recently donned bathroom attire to sell the virtues of our fair city.

The Greater Phoenix Convention and Visitors Bureau, which counts East Valley cities as its members, and area resorts tried to woo those from Chicago by dressing up in spa robes while passing our mini packages of bath salts to Chicago Cubs fans on opening day outside of Wrigley Field.

Each package contained lavender or honeydew salts with the www.visitphoenix.com message attached in an effort to land travelers who want to come to the Valley for a spring respite.

After all, they said, temperatures were in the 40s in the Midwest.

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