Phoenix – Arizona

Phoenix – Arizona

Phoenix, the most populous state capital in the country, has been attracting both domestic and international homebuyers due to its strong economy, job opportunities, and favorable climate. The city’s population has been steadily growing, leading to increased demand for housing. This, coupled with relatively affordable home prices compared to other major cities in the United States, creates a very competitive buying environment. Sellers receive multiple offers and properties sell quickly. The market has been characterized by a balanced and slow rise in home prices in the midst of low inventories.

MARKET DATA
(Sales Closed from July 1, 2023 to December 31, 2023)
SINGLE-FAMILY HOMES ONLY
MEDIAN PRICE:
$475,000
AVG PRICE:
$615,541
HOMES CLOSED:
4460
AVG  SQ. FT:
1980

Based on information from Arizona Regional MLS for the period

TRENDS

Source: Arizona Multiple Listing System

*It’s important to note that the real estate market can be influenced by many factors, such as economic conditions, interest rates, and local markets. it’s always advisable to contact us for the most up-to-date and specific information.

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