How much are house prices in Phoenix? Latest data and market trend analysis in 2024
Recently, the housing price trend in Phoenix (Arizona) has become one of the hot topics on the Internet. As one of the fastest-growing cities in the United States, Phoenix's real estate market is always in the spotlight. This article will combine the popular data and industry analysis of the past 10 days to present you with a structured housing price report.
1. Core data of current housing prices in Phoenix
| indicator | Numerical value (latest in 2024) | Year-on-year change |
|---|---|---|
| Median house price | $435,000 | +6.2% |
| average listing price | $469,500 | +5.8% |
| price per square foot | $275 | +7.1% |
| Inventory quantity (sets) | 12,800 | -3.4% |
2. Price comparison in popular areas
| area | Median house price | Popular index |
|---|---|---|
| Scottsdale | $785,000 | ★★★★★ |
| Tempe | $520,000 | ★★★★ |
| Chandler | $480,000 | ★★★★ |
| Glendale | $390,000 | ★★★ |
3. Market dynamics and hot search topics
1.The relocation wave of technology companies: Intel announced a new investment of US$20 billion in chip factories in Phoenix, driving the search volume of surrounding housing prices to increase by 23% in a single week.
2.interest rate impact: The 30-year mortgage interest rate dropped to 6.6% (Freddie Mac data), and first-time homebuyer inquiries increased by 15% month-on-month.
3.climate factors controversy: The extreme hot weather in summer has caused some buyers to turn to newly built communities with 100% air-conditioning coverage. The premium for such houses is as high as 8-12%.
4. Forecast for the next six months
| institution | Forecast increase | key basis |
|---|---|---|
| Zillow | 4.5%-5% | Population influx continues |
| Realtor.com | 3%-4% | Inventory recovery slow |
| Local Brokerage | 6%+ | Land supply is tight |
5. House purchase advice
1.School district housing strategy: House prices in top school districts (such as Paradise Valley Unified) are highly resilient, but they require a 15-20% premium.
2.New construction vs second-hand housing: The average price of new homes is 18% higher than that of second-hand homes, but energy efficiency ratings can save long-term expenses.
3.tax advantages: Arizona’s property tax rate is 0.72%, ranking 6th lowest in the United States and suitable for investment portfolio allocation.
The current real estate market in Phoenix is showing the characteristics of "both volume and price". It is recommended that buyers pay attention to the interest rate window period and be wary of the risk of price correction in some overheated areas. The data in this article are synthesized from Redfin, MLS and public financial reports, and the statistical period ends in June 2024.
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