If you need assistance, please call 480-733-8500

Phoenix

Why you'd want to live in Phoenix

Phoenix is the capital and most populous city of the U.S. state of Arizona. With 1,615,017 people (as of 2016), Phoenix is the fifth most populous city nationwide, the most populous state capital in the United States, and the only state capital with a population of more than one million residents. Phoenix is the anchor of the Phoenix metropolitan area, also known as the Valley of the Sun, which in turn is a part of the Salt River Valley. The metropolitan area is the 12th largest by population in the United States, with approximately 4.3 million people as of 2010. In addition, Phoenix is the seat of Maricopa County and, at 517.9 square miles, it is the largest city in the state, more than twice the size of Tucson and one of the largest cities in the United States. Settled in 1867 as an agricultural community near the confluence of the Salt and Gila Rivers, Phoenix incorporated as a city in 1881. Located in the northeastern reaches of the Sonoran Desert, Phoenix has a subtropical desert climate. Despite this, its canal system led to a thriving farming community, many of the original crops remaining important parts of the Phoenix economy for decades, such as alfalfa, cotton, citrus, and hay (which was important for the cattle industry). In fact, the "Five C's" (Cotton, Cattle, Citrus, Climate, and Copper), remained the driving forces of Phoenix's economy until after World War II, when high-tech industries began to move into the valley and air conditioning made residences much more comfortable in the very hot summers. The city averaged a four percent annual population growth rate over a 40-year period from the mid-1960s to the mid-2000s. This growth rate slowed during the Great Recession of 2007–09, and has rebounded slowly. Phoenix is the cultural center of the Valley of the Sun, as well as the entire state.

Phoenix Market Report

$677,071

AVERAGE PRICE OF 3,128 HOMES

$495,408

AVERAGE PRICE OF 14 DISTRESSED HOMES

$1,900,765

AVERAGE PRICE OF 410 MULTI-MILLION DOLLAR HOMES

$1,034,003

AVERAGE PRICE OF 414 NEWLY BUILT HOMES

$1,074,264

AVERAGE PRICE OF 855 HOMES WITH A POOL

$661,969

AVERAGE PRICE OF 260 REDUCED PRICE HOMES

Average Home

Average Price $677,071
Avg Bedrooms 3.19 beds
Avg Bathrooms 2.35 baths

Average Price by Bedrooms

1 bedroom $267,006
2 bedrooms $388,048
3 bedrooms $567,562
4 bedrooms $854,819
5 bedrooms $1,313,686
Phoenix Home Price Trends
  8/2023 7/2023 6/2023 5/2023 4/2023
Total Listings 3,003 2,986 3,146 3,388 3,548
Average Price $662,679 $679,298 $690,636 $683,027 $665,305
Avg Price Change -2.51% -1.67% +1.11% +2.66% +3.14%
Median Price $486,643 $497,434 $492,797 $481,999 $470,389
Med Price Change -2.22% +0.94% +2.24% +2.47% +3.89%
Avg Bedrooms 3.18 beds 3.19 beds 3.18 beds 3.19 beds 3.18 beds
Avg Bathrooms 2.35 baths 2.38 baths 2.4 baths 2.43 baths 2.37 baths
Home Price by High School
School Name Total Homes Average Price Avg Days on Site
Barry Goldwater High School 191 $604,174 50 days
Camelback High School 276 $940,931 69 days
Central High School 318 $709,849 110 days
North High School 155 $635,286 64 days
Pinnacle High School 185 $818,393 62 days
Home Price by House Size
Total Homes Average Price Avg Days on Site
All Homes 3,128 $677,071 64 days
Distressed Homes 14 $495,408 22 days
Multi-Million Dollar Homes 410 $1,900,765 92 days
Newly Built Homes 414 $1,034,003 135 days
Homes with a Pool 855 $1,074,264 60 days
Reduced Price Homes 260 $661,969 54 days
JK Realty
Rome Towers
1760 E Pecos Rd, Suite 501
Gilbert, AZ 85295
480-733-8500
Michele Walker
Sr. Loan Originator
NMLS# 821145 | AZ MLO #0929746
BK 0018295 | Corp NMLS #2973
This is not a commitment to lend or extend credit.
michele.walker@wvmb.com
Phone: 573-355-7431
Fax: 480-393-1871

© 2023 Arizona Regional Multiple Listing Service, All rights reserved. The data relating to real estate for sale on this website comes in part from the Arizona Regional Multiple Listing Service. Real estate listings held by brokerage firms other than JK Realty are marked with the Arizona Regional Multiple Listing Service logo and detailed information about them includes the name of the listing brokers. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Arizona Regional Multiple Listing Service shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. September 25, 2023
This site powered by CINC: www.cincpro.com