"We Have Lift Off"! That is what it seems like as median Phoenix metro home prices at record highs are going up also and are expected to reach $430,000 by the end of January 2022. (Photo Rocket: Tarcision from Pixabay)
Median House Prices Last 3 Years in Phoenix Arizona Metro
$427,000 December 2021
$333,000 December 2020
$290,000 December 2019
Per Catherine Reagor of the Arizona Republic, January 25, 2022, The Valley’s housing market isn’t expected to be as frenzied as it was in 2021, but prices are on track to keep steadily climbing until probably May, according to real estate analysts.
The median home price in the Phoenix area hit a record $427,000 in December 2021, up 28% for the year, according to the Arizona Regional Multiple Listing Service. That number is expected to climb to $430,000 in January, based on pending sales."
Further Reagor wrote, “Normally, at this time of year we have around 16,000 houses listed for sale in metro Phoenix,”per Tina Tamboer, senior housing analyst with the Cromford Report. Now we have half that amount listed for sale."
Mortgage rates are also on the rise, but still closer to record lows so this may be a time for buyers to buy in 2022 before both home prices and mortgage rates rise any more.
Meet Jeff Masich REALTOR® for the Phoenix Metro and Scottsdale Arizona
Meet Jeff Masich, REALTOR® and ask about homes for sale in the Phoenix Arizona metro area or Scottsdale.
If you are looking to move to Phoenix including Scottsdale or to buy a home in Arizona or sell a home in Arizona, contact Jeffrey Masich, Associate Broker and Realtor. I would be pleased to help you and look out for your best interests while finding you the right home at the right price!