Phoenix, AZ Homes for Sale & Real Estate

Phoenix, AZ Housing Market

The Phoenix housing market is moderately competitive, with homes typically receiving two offers and selling in about 53 days. Last month, the median home price was $450K, reflecting a 2.6% decline compared to the previous year. The median price per square foot also decreased by 2.1%, settling at $280.

Phoenix's extreme desert climate—with summer temperatures regularly exceeding 110°F—makes energy-efficient design essential. Buyers should prioritize homes with upgraded insulation, dual-pane windows, smart thermostats, and energy-efficient HVAC systems to reduce cooling costs. Solar panel installations are increasingly common and can significantly offset electricity expenses. Shade structures, north/south home orientation, and landscaping with drought-tolerant plants (xeriscaping) also enhance livability and lower long-term maintenance costs.

Many Phoenix properties are located in master-planned communities with homeowners associations (HOAs). These HOAs may have strict guidelines regarding exterior paint colors, landscaping, parking, short-term rentals, and more. Buyers should thoroughly review HOA covenants, fees, and enforcement practices, as they vary widely across neighborhoods. Understanding whether the HOA enhances or restricts your lifestyle goals is key before committing to a purchase in these communities.

Air quality can be a concern in parts of Phoenix, especially in areas near high-traffic highways or industrial corridors. Some neighborhoods experience elevated dust levels due to urban sprawl and ongoing construction. Buyers with respiratory concerns, young children, or long-term health considerations should evaluate environmental factors, including proximity to major freeways like I-10 or Loop 202, and consider areas with more green space and cleaner air, such as Ahwatukee or North Phoenix.

Despite Phoenix’s arid climate, heavy monsoon rains can trigger flash flooding in low-lying neighborhoods and poorly graded lots. Buyers should review flood zone maps and verify that the property has proper drainage infrastructure. Additionally, certain areas have expansive clay soils that can shift and affect foundations over time. A geotechnical inspection or a detailed review of soil reports is recommended, especially for custom or older homes in areas like Laveen or South Mountain.

The Phoenix market exhibits distinct seasonal patterns. Demand tends to spike in the cooler months—particularly from November through March—when out-of-state buyers (especially from California, the Midwest, and Canada) enter the market. Conversely, inventory often increases in summer, when fewer buyers are active due to the extreme heat. Buyers may find more negotiating power during off-peak periods, while sellers may achieve stronger results during high-season windows.

Phoenix continues to expand rapidly, with major residential and commercial developments in areas like the West Valley (e.g., Buckeye, Goodyear) and Southeast Valley (e.g., Queen Creek, San Tan Valley). Buyers interested in long-term appreciation should evaluate future infrastructure projects, new employment hubs, and transportation expansions. Areas near the Loop 303 or Phoenix-Mesa Gateway Airport are seeing increased investment, which may translate into rising home values over time.

Phoenix Guide

Ready to uncover all that Phoenix has to offer? Dive into our comprehensive Phoenix neighborhood guide to explore the distinct vibes, amenities, and housing options each area presents. Whether you're considering moving to Phoenix or just curious about its diverse communities, our guide provides the insights you need to discover the neighborhood that best suits your lifestyle and preferences. Start exploring today to find your ideal spot in this vibrant city!