$470,000 = Phoenix Median Sold Price of Single-Family Houses in July
Phoenix Real Estate Market at a Glance
Some numbers are for ALL house types, others just for single-family detached (SFD).
Inflation-Adjusted Prices Still Higher Than in 2005
“… there were more than 60,000 short-term rentals in Arizona, accounting for about 2% of the housing stock statewide.
However, some areas are much higher, like Sedona, where it’s estimated that more than 30% of homes are used for rental income.”
Lost $200,000 to $300,000 in value since May 2022
Record Number of Multi-Family Housing Units Under Construction
“Currently there are 1,003 thousand multi-family units under construction. This breaks the record set in July 1973 of multi-family units being built for the baby-boom generation.” – CalculatedRisk
Most of the declines in house prices happen AFTER a recession ENDS!!
Click on the graphs to go to the full-size, interactive version.
Notice how very small changes in New Listings and Solds eventually cause HUGE changes in the number of houses For Sale and house Prices (see graph above).
This information can vary a lot in different parts of metro Phoenix. Your real estate agent can find the data for your specific city or zip code at The Cromford Report.