Average Sales Price in Seville

Here’s some information on the Average Sales Price in Seville since January 2007 for resale homes. Here’s another one of my not-so-famous charts:

With exception of an average sales price spike in May and June of 2007 (as a result of three $1.5M+ homes selling), the average price in Seville Golf & Country Club in Gilbert is slowly declining.

The average difference between listing price and sales price in Seville was $14,417 over this fourteen month course with a maximum difference of $21,561 in June of 2007 and the lowest difference of $3,899 in April of 2007.

Over the course of the fourteen months it’s fairly obvious that the average sales price through the first three quarters of 2007 was around $425,000.  However, in the last quarter of 2007 and first two months of 2008, the average sales price begins to decline to near $325,000.  Although just a one month year-over-year example, February 2007 to February 2008 saw a $131,469 decline in average prices in Seville.  January’s year-over-year  decline was only $17,784.

It’s interesting that these trends in Seville mimic much of what the rest of the country is dealing with.  A recent study pointed out that prices in the Phoenix metroplex fell 18.2% for 2007.  For the month of January 2008, prices fell 4.1% compared to January 2007.  In Seville, prices fell 5.54% from January 2007 to January 2008.