Historically 25% to 30% of all homes sold Maricopa County during any given year were newly built. As the chart below shows, this trend abruptly changed in 2007, with only 14.6% of all homes sold in Maricopa County in January 2021 being new builds – approximately half of prior decades. But the gap between the median priced new home and the median priced resale is in decline. According to Maricopa County public records, in January of this year the median sales price for a new build was $382,170 compared to $342,000 for the median priced resale, or a gap of just over $42,000. A year ago, this gap was nearly double at $81,000. The new construction median sales price was only 11.7% higher than the median resale this January 2021 compared to 28.3% last January. Read more about that narrowing gap here

Source: ARMLS