Arizona real estate trends (May 2022)
How is the real estate market in Arizona?
🏠 Average home value: $436,441
📈 2.32% home value increase month over month
💰 Median sale price: $444,400
⏳ 35 days on the market
🔑 Homes on the market: 6,774
📆 0.4 months of housing inventory
🏦 30-year mortgage rate: 5.48%
💵 Average income: 58945
State of the market: A
Arizona’s real estate market continues its hot streak, with homes selling quickly at prices exceeding their value. With the fast turnaround and limited inventory, this trend may not be dying down soon.
*Data last updated May 2022
Arizona is a major destination for retirees — and anyone who loves spending time in the great outdoors.
From Flagstaff’s pine forests to Sedona’s red mesas, Arizona offers a wide variety of dramatic landscapes. The Grand Canyon State boasts an impressive 34 state parks and 3 National Parks: Saguaro, Petrified Forest, and Grand Canyon.
Though some parts of the state have snowy winters, Arizona’s relatively moderate climate provides opportunities for outdoor activities year-round.
If you're thinking of buying or selling in Arizona, these Arizona housing predictions and stats can help you make an informed decision.
Want to save money when you buy or sell your home? With Clever, you'll only pay 1% or $3K in listing fees. Eligible buyers get 0.5% cash back after closing. Find out how much you can save with Clever today!
Selling a home in Arizona
Arizona real estate market forecast for sellers
⏰ Homes are selling 2 days faster than the annual average
💰 Homes are selling for $27,266 more than the annual average
💸 Average listing commission: 2.60%
💸 Average buyer's commission: 2.70%
How to sell a home in Arizona
- The Best Low Commission Real Estate Brokers
- Top Real Estate Agents in Arizona (June 2021 Rankings)
- 8 Steps to Selling a House in Arizona
- How to Sell a House By Owner in Arizona (2021 Update)
- 7 Best Arizona Flat-Fee MLS Companies in 2021
- We Buy Houses for Cash Companies in Arizona (2021 Rankings)
Cost to sell a home in Arizona
- What's The Average Arizona Real Estate Commission In 2021?
- The Ultimate Guide to Arizona Real Estate Taxes
Buying a home in Arizona
How much home you can buy with $300,000 in...
🏠 Phoenix: 1,083 sq ft
🏡 Prescott: 965 sq ft
🏡 Tucson: 1,376 sq ft
🏠 Flagstaff: 847 sq ft
- How to Save with a Home Buyer Rebate
- 8 Definitive Steps to Buying a House in Arizona
- The 5 Most Affordable Places to Live In Arizona
- The Best Time to Buy a House in Arizona
- The Ultimate Guide for Moving to Arizona
Investing in Arizona real estate
- Top 5 Best Real Estate Investment Markets in Arizona
- The Ultimate Guide to Flipping Houses in Arizona
- A Beginner's Guide to Buying an Apartment Building
Best of Arizona
Each month, we compare cities in Arizona based on different criteria. This month, we're looking at affordability and ranking the best cities in the state.
Most Affordable Cities in Arizona
1. Sierra Vista-Douglas
Worst of Arizona
Each month, we compare cities in Arizona based on a different criteria. This month we're looking at affordability data. These are the cities that ranked the worst in the state.
Least Affordable Cities in Arizona
1. Prescott Valley-Prescott
3. Show Low
4. Lake Havasu City-Kingman
- Arizona Department of Real Estate
- Arizona's real estate license verification
- Arizona's real estate agent code of conduct
- Arizona's disclosure forms
- Transfer taxes in Arizona
- Home buying assistance programs in Arizona
Frequently asked questions about Arizona real estate
It is a seller’s market in Arizona right now and homes are being priced higher in this high-demand market. However, the state of the market is different in each city and town, so consulting with a local real estate agent is a must when trying to figure out your local market trends.
Yes, investing in Arizona is a good idea, especially in areas like Phoenix and Tucson, where the demand for housing is always high. However, to ensure that your real estate purchase is worth the money, first learn which neighborhoods to buy from and how to manage an investment property. Read through our guide on investing in real estate to find out more.
Now might not be the best time to buy a home in Arizona, as listing prices are much higher than average. However, mortgage rates here are lower than in other states, meaning that you could save money in the long run with a locked-in low rate. To understand all your options, you should work with one of the top real estate agents in the state.
Clever's analysis of state market trends is based on local data from Zillow, realtor.com, Redfin, Bankrate, the U.S. Census, and Clever surveys. Our team of over 20 real estate analysts from across the country research local markets and data to compile our "Best" and "Worst" rankings.