Phoenix Market Update: New vs. Resale Home Trends

Phoenix Market Update: Trends in New and Resale Homes

The Phoenix real estate market continues to thrive, offering exciting opportunities for buyers interested in both new construction homes and resale properties. Whether you’re drawn to the modern features of new builds in Gilbert or the character of resale homes in North Central Phoenix, understanding current trends can help you make the right investment decision.

Here are five key trends shaping the Phoenix market in 2024:

1. The Rise of Energy-Efficient New Builds

Sustainability is a top priority for homebuyers in Scottsdale, Chandler, and beyond. Builders are incorporating solar panels, tankless water heaters, and energy-efficient windows into new construction homes. Communities like Vistancia in Peoria and Sterling Grove in Surprise are leading the way with eco-friendly designs that cater to environmentally conscious buyers.

2. Customization Options in New Construction

Buyers of new builds in Phoenix are taking advantage of customization options, from smart home integrations to personalized floor plans. In areas like Tempe and Paradise Valley, new construction homes offer flexible layouts with features such as multi-generational suites and home offices, making them highly desirable in today’s market.

3. Resale Homes with Character

While new construction homes in Phoenix attract buyers with modern amenities, resale properties remain popular for their unique charm and established neighborhoods. Homes in Arcadia or North Central Phoenix often feature mature landscaping, larger lots, and architectural details that new builds can’t replicate.

4. Competitive Market Conditions

The Phoenix housing market remains competitive, with a low inventory of both new and resale homes. Demand is particularly strong in family-friendly areas like Gilbert and Chandler, where top-rated schools and amenities drive interest. Buyers should act quickly and be prepared to make strong offers in these high-demand neighborhoods.

5. Luxury Market Growth

The luxury market in Scottsdale and Paradise Valley continues to expand, with buyers seeking high-end homes featuring resort-style amenities. Properties with private pools, outdoor kitchens, and panoramic desert views are especially sought after, making Scottsdale luxury homes a key driver of the market’s growth.

Whether you’re searching for a modern new construction home in Peoria or a resale property in Arcadia, understanding these trends is essential for navigating the competitive Phoenix real estate market. Contact Craig Bennett at Sotheby’s International Realty to explore your options and make the most of today’s market opportunities.