Median Home Price $430K Phoenix Metro- Going Up

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Real Estate Agent with HomeSmart Real Estate BR632450000

"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)

Home prices rise

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."

Jeff Masich Realtor

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.

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Jeff Masich

Broker/REALTOR®

Scottsdale including Phoenix, Tucson and Prescott metros and throughout Arizona


Buy/Sell with Arizona Homes and Land Group. Ask me, Group Leader about Metro Homes or Ranches and Large Acreage properties throughout the state.

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Comments (2)

Ray Henson
eXp Realty of California, Inc. (lic. #01878277) - Elk Grove, CA
Realtor

It has been a great three years for homeowners in the Phoenix area.  We have experienced similar growth with our Goodyear home and our Elk Grove, Ca home.  Who would have thought this would happen 10 or so years ago when we were experiencing all the short sales and foreclosures?

Jan 27, 2022 09:24 AM
Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI
HomeSmart Real Estate - Scottsdale, AZ
Arizona Homes and Land Group/ Buy or Sell

Roger that Raymond Henson, eXp Realty and it is not slowing down and offer we had this week for a buyer at above the list price had 31 other offers. Not so good to be a buyer.

Jan 27, 2022 09:30 AM
Ray Henson

I watched an real estate deal yesterday.  They said the population of Gilbert, AZ rose 116%  last year.  Is that really possible?  It that happening to some extent to all of the areas around Phoenix?  Thank you!

Jan 27, 2022 09:42 AM