Let’s say you are moving from outside of Arizona and you want to know more about the Phoenix real estate market. CENTURY 21 Northwest Realty has quite a bit of expertise when it comes to that specific topic. We thought we would be courteous and give you an outlook on what our market looks like.
Before we get started with what you should know, we would like to debunk a myth about Phoenix that usually affects a person’s desire to move here. Although we do get record high heats that are in the 120’s in the Summer, it is not ALWAYS that hot. In fact, it’s December and the low for today was 41 degrees. Sure three or four months out of the year are pretty hot, but those 8 or 9 others are worth the sweat. But anyway, before we get too carried away, here are 5 things you should know about the Phoenix real estate market before making a move (pun intended).
Number 5: Average Price Per Square Foot
The Average price per square foot of a home in Phoenix was $129. This is an increase of 8.4% compared last year. This average is only about $7 more than the average in Arizona as a whole.
Number 4: Average Sales Price
The average sales price for a home in Phoenix between August 15th and November 15th, 2015 was $183,000 based on 4,308 home sales. When compared to the same timeframe one year ago, the average home sales price increased by $8,000 or 4.6% and the number of home sales decreased by 0.9%.
Number 3: Number of Homes
According to Trulia, there are currently 5,941 resale and new homes in Phoenix, including 129 open houses, as well as 1,292 homes in the pre-foreclosure, bank-owned, or auction stages of the foreclosure process.
Number 2: Average Listing Price
The average listing price for Phoenix homes was $300,931 for the week of November 25th. This represents a decrease of $135 compared to the prior week. When compared to the whole of Arizona, Phoenix is about $5,000 more on average.
Number 1: Popular Neighborhoods
Some of the popular neighborhoods in Phoenix include Paradise Valley, Camelback East, Deer Valley, Alhambra, North Mountain, and South Mountain. All of these neighborhoods would be a great place to get a new start in the Phoenix area.
Contact The Phoenix Real Estate Experts
When buying a home in Phoenix, the CENTURY 21 team recommends looking through a variety of housing options for any budget in the area. Be sure to explore these locations when you consider buying a home in Phoenix. CENTURY 21 Northwest agents are standing by to answer any questions! Give us a call 623.299.2148 or visit our Contact page today and let’s get started finding your home!