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 $434,865[1]#15 of 50 states17.8% higher
Median Listing Price $520,000[2]#15 of 50 states13.3% higher
Median Sale Price $472,600[3]#18 of 50 states9.7% higher
30 Year Mortgage Rate 7.03%[4]#34 of 50 states0.8% higher
Median Days on Market 58[5]#47 of 50 states40.6% longer
Show more

Looking to buy or sell in Arizona?

Enter your zip code to match with top agents in your area!

🗺️ Buying a house in the Arizona real estate market

Arizona has an affordability score of 7.7, meaning it takes 7.7 years of the median household income ($61,529) to afford Arizona's median home sale price ($472,600). Because of this, we rank Arizona as the 13th least affordable state for buyers based strictly on prices compared to income.

Data PointValueRankCompared to National Avg
Median Sale Price $472,600[6]#18 of 50 states9.7% 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 7.7#38 of 50 states16.5% higher
Buyers Agent Commission 2.75%[9]#30 of 50 states2.8% higher
Show more

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 2.69%, which is the 8th lowest in the United States. Buyers' agents charge an average commission of 2.75%, which is the 21st highest in the United States.

Data PointValueRankCompared to National Avg
Median Listing Price $520,000[10]#15 of 50 states13.3% higher
Median Sale Price $472,600[11]#18 of 50 states9.7% higher
Median Days on Market 58[12]#47 of 50 states40.6% longer
Buyer's Agent Commission 2.75%[13]#30 of 50 states2.8% higher
Listing Agent Commission 2.69%[14]#8 of 50 states5.9% lower
Show more

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
Show more

Article Sources

[1] Zillow – "Zillow Home Value Index". Updated May 31, 2024.
[2] Realtor.com – "Realtor.com Data Library". Updated May 2024.
[3] Redfin – "Redfin Data Center". Updated May 2024.
[4] Bankrate – "Bankrate". Updated July 2024.
[5] Realtor.com – "Realtor.com Data Library". Updated May 2024.
[6] Redfin – "Redfin Data Center". Updated May 2024.
[7] Bankrate – "Bankrate". Updated July 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 July 2024.
[10] Realtor.com – "Realtor.com Data Library". Updated May 2024.
[11] Redfin – "Redfin Data Center". Updated May 2024.
[12] Realtor.com – "Realtor.com Data Library". Updated May 2024.
[13] Clever Real Estate – "Clever Real Estate survey of American real estate agents". Updated July 2024.
[14] Clever Real Estate – "Clever Real Estate survey of American real estate agents". Updated July 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.

Better real estate agents at a better rate

Enter your zip code to see if Clever has a partner agent in your area
If you don't love your Clever partner agent, you can request to meet with another, or shake hands and go a different direction. We offer this because we're confident you're going to love working with a Clever Partner Agent.