Search homes for sale in Phoenix, known for its year-round sun, desert beauty, and world-class resorts and golf
The Phoenix housing market is moderately competitive. On average, homes in Phoenix receive two offers and sell within approximately 49 days. Last month, the median home sale price in Phoenix was $452,000, reflecting a 2.7% increase compared to the previous year. The median sale price per square foot remains steady at $282, showing no change from the previous year.
Median Sale Price
Median Sale Price per Sq. Ft.
Total Homes Sold
Median Days on Market
In October 2024, Phoenix home prices experienced a 2.7% year-over-year increase, with the median sale price reaching $452,000. This steady price growth reflects consistent demand in the market. Homes in Phoenix are taking longer to sell, averaging 49 days on the market compared to just 37 days during the same period last year, indicating a possible cooling in buyer urgency or shifts in inventory availability. Despite this extended selling time, market activity remains strong, with 1,310 homes sold in October, up from 1,238 the previous year. The combination of rising prices and increased sales volume underscores Phoenix's enduring appeal, even as buyers take more time to finalize transactions.
Phoenix is moderately competitive, with homes typically selling in about 50.5 days. While multiple offers occur, they are not common for most properties. On average, homes sell for approximately 2% below the list price and go under contract in around 51 days. However, highly sought-after "hot homes" often attract more interest, selling close to the list price and going pending much faster—within approximately 26 days. This dynamic highlights the importance of pricing and property desirability in driving quicker transactions.
Recent migration trends indicate that Phoenix, Arizona, continues to attract homebuyers from various parts of the United States. Data from August to October 2024 shows that 2% of homebuyers nationwide considered relocating to Phoenix from other metropolitan areas. Notably, individuals from Seattle expressed the highest interest in moving to Phoenix, followed by those from Los Angeles and Dallas. This pattern suggests that Phoenix's appeal extends beyond its local region, drawing attention from both neighboring cities and more distant urban centers.
For detailed, up-to-date information on buying a house in Phoenix, AZ, including legal considerations and market trends, you can talk to us.
Home inspections are a crucial part of the home-buying process in Phoenix. Given the desert climate, it's essential to inspect for issues related to heat, such as roof wear and tear, HVAC system performance, and potential pest problems like termites. An inspector will also check the foundation for cracks, which can occur due to soil expansion and contraction. Budget around $300–$500 for a thorough inspection and consider additional specialized inspections for pools, septic systems, or solar panels if applicable.
In Phoenix, pools are a common feature due to the hot climate. When buying a home with a pool, consider the maintenance costs (typically $80–$150 per month), pool safety requirements (especially if you have kids), and the condition of the pool equipment. A pool inspection, often costing $100–$200, is recommended to evaluate the pool’s structural integrity, plumbing, and filtration systems. Also, be aware of local regulations requiring secure fencing or covers.
Choosing the right neighborhood in Phoenix depends on your lifestyle needs. Consider factors such as commute times, school district quality, and proximity to amenities like shopping, parks, and healthcare. Online tools, local real estate agents, and visiting neighborhoods at different times of the day can provide insight. Popular neighborhoods for families include Arcadia and Ahwatukee, while young professionals often prefer downtown or midtown Phoenix for their vibrant culture and nightlife.
Preparing your home for sale in Phoenix involves several steps. First, focus on curb appeal: ensure landscaping is tidy, remove weeds, and consider adding desert-friendly plants. Inside, address any deferred maintenance, such as repairing HVAC systems or sealing cracks in windows to combat the heat. Since Phoenix homes are exposed to intense sunlight, fresh paint and updated window treatments can make a significant difference. Staging your home with light, neutral colors can also make it more appealing to buyers.
Arizona law requires sellers to disclose material facts about the property. This includes issues such as roof leaks, plumbing problems, termite damage, or HVAC system deficiencies. Due to the desert environment, you should also disclose any past or ongoing pest infestations, water damage from monsoon rains, or soil-related foundation issues. Use Arizona's Seller Property Disclosure Statement (SPDS) form to ensure all disclosures are made accurately.
Pricing your home competitively involves analyzing comparable sales (comps) in your area. Look at homes with similar size, age, and features within a one-mile radius that sold in the past 3–6 months. Keep in mind Phoenix's unique factors, such as whether the home has energy-efficient upgrades, solar panels, or a pool, as these can affect value. Working with a local real estate agent who understands the Phoenix market can help you set a realistic asking price that attracts buyers.
Thinking about buying a property in Phoenix, AZ, or have any questions about the area? Contact us today! We're here to help you navigate the Phoenix real estate market with expert advice and personalized service. Whether you’re looking for a family home, a chic urban condo, or a peaceful desert retreat, we can guide you to the perfect property that meets all your needs. Let’s make your dream home a reality!
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!
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