The Arizona Real Estate Market: 2024 Trends

I want to... 🏠 Sell my home | 🗝️ Buy a home | 🗺️ Find a new place to live in Arizona

💡 Key Arizona housing market facts

Data PointValueRankCompared to National Avg
Typical Home Value $431,492[1]#15 of 50 states17.1% higher
Median Listing Price $496,225[2]#17 of 50 states11.9% higher
Median Sale Price $456,900[3]#18 of 50 states8.1% higher
30 Year Mortgage Rate 7.03%[4]#34 of 50 states0.8% higher
Median Days on Market 58[5]#32 of 50 states7.7% longer
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🗺️ Buying a house in the Arizona real estate market

Arizona has an affordability score of 7.4, meaning it takes 7.4 years of the median household income ($61,529) to afford Arizona's median home sale price ($456,900). Because of this, we rank Arizona as the 14th least affordable state for buyers based strictly on prices compared to income.

Data PointValueRankCompared to National Avg
Median Sale Price $456,900[6]#18 of 50 states8.1% higher
30 Year Mortgage Rate 7.03%[7]#34 of 50 states0.8% higher
Median Household Income $61,529[8]#28 of 50 states4.6% lower
Affordability Ratio 7.4#37 of 50 states15.2% higher
Buyers Agent Commission 2.62%[9]#39 of 50 states3.2% higher
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Resources for Arizona home buyers

🗺️ Selling a house in the Arizona real estate market

According to our detailed survey of Arizona real estate agents, listing agents (those representing the seller) charge an average commission in Arizona of 2.78%, which is the 19th highest in the United States. Buyers' agents charge an average commission of 2.62%, which is the 12th highest in the United States.

Data PointValueRankCompared to National Avg
Median Listing Price $496,225[10]#17 of 50 states11.9% higher
Median Sale Price $456,900[11]#18 of 50 states8.1% higher
Median Days on Market 58[12]#32 of 50 states7.7% longer
Buyer's Agent Commission 2.62%[13]#39 of 50 states3.2% higher
Listing Agent Commission 2.78%[14]#32 of 50 states2.1% higher
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Resources for Arizona home sellers

Moving to Arizona

According to our recent moving trends survey[15], Arizona is the 9th most desirable state to move to, with 14% of Americans indicating that they would choose to move there if money were no object. Likewise, 9% of survey respondents indicated that they would move to Phoenix among a choice of America's largest cities.

Here's how Arizona cities rank in a number of our research studies.

StudyBest Arizona cityRank
Best Pizza Cities[16]Phoenix12th best
Best Coffee Cities[17]Phoenix39th best
Best LGBTQ Cities[18]Phoenix36th best
Best Bike Cities[19]Phoenix46th best
Best Commuter Cities[20]Phoenix40th best
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Article Sources

[1] Zillow – "Zillow Home Value Index". Updated August 31, 2024.
[2] Realtor.com – "Realtor.com Data Library". Updated September 2024.
[3] Redfin – "Redfin Data Center". Updated August 2024.
[4] Bankrate – "Bankrate". Updated October 2024.
[5] Realtor.com – "Realtor.com Data Library". Updated September 2024.
[6] Redfin – "Redfin Data Center". Updated August 2024.
[7] Bankrate – "Bankrate". Updated October 2024.
[8] US Census – "US Census, 2020 American Community Survey". Updated 2020.
[9] Clever Real Estate – "Clever Real Estate survey of American real estate agents". Updated October 2024.
[10] Realtor.com – "Realtor.com Data Library". Updated September 2024.
[11] Redfin – "Redfin Data Center". Updated August 2024.
[12] Realtor.com – "Realtor.com Data Library". Updated September 2024.
[13] Clever Real Estate – "Clever Real Estate survey of American real estate agents". Updated October 2024.
[14] Clever Real Estate – "Clever Real Estate survey of American real estate agents". Updated October 2024.
[15] Home Bay – "Half of Americans Are Surprised by How Much It Costs to Move". Updated February 26, 2024.
[16] Clever Real Estate – "The 15+ Best Pizza Cities in America". Updated February 12, 2024.
[17] Clever Real Estate – "The Best (and Worst) Coffee Cities in America". Updated January 12, 2024.
[18] Clever Real Estate – "The Most (and Least) LGBTQ-Friendly Cities in America". Updated October 23, 2023.
[19] Clever Real Estate – "The Most Bike-Friendly Cities in the U.S.". Updated July 17, 2023.
[20] Clever Real Estate – "The Best (and Worst) Cities for Commuters". Updated September 21, 2023.

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