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If you're thinking of moving to the Phoenix area, you may wonder if there's a best time to make an offer on a house. The short answer is: it depends on your priorities.
In recent years, listing prices for homes in Arizona were lowest in May. On average, homes were $38,319 less expensive. While in November — the month with the highest prices — the listing prices were $41,822 more than the annual average.
Mortgage rates, on the other hand, were lowest in December. But with interest rates on the rise, it pays to explore your options with a trusted mortgage provider to make sure you get the best rate possible.
Read on to find out which time of year will give you the most options and the biggest savings when buying a house in Phoenix.
If you're interested in buying a home, the first step is to find a qualified realtor who knows the local market. The right agent can help you navigate the ups and downs of the Phoenix real estate market so you don't miss out on exciting opportunities.
The easiest way to find a great local realtor is to use a free service like Clever Real Estate. Clever matches you with top agents in your area from trusted brokerages like RE/MAX and Keller Williams.
Interview as many agents as you'd like until you find the perfect fit, or walk away at any time with no obligation. Add your zip code below to request hand-picked agent matches today!
If you're ready to buy a home, Clever can connect you with an agent who knows the market!
✅ Get expert help to negotiate your purchase price
✅ Work with a full-service realtor from a top broker
✅ Clever is 100% free, with zero obligation
The best time to buy a house in Phoenix
October, November, and December are typically the best months to get a good deal on a home in Phoenix. Sellers are often more motivated to move before the holidays, and you may not have to compete with as many buyers that time of year.
But if you're hoping to find a move-in ready home in a hot market, you might be better off looking in February, March, and April. During these months, more homes are listed on the market, making it easier to find a home that checks all your boxes.
While these are general rules of thumb, it's important to remember that price trends can vary from year to year — and there may even be anomalies within certain neighborhoods. The best way to find a home in your target market is to connect with a local realtor. They'll help you navigate the ins and outs of your market and find the best time to buy a house in Phoenix.
The best places to buy a home in Phoenix
You might have decided to move to Phoenix, but have you decided on a specific neighborhood? If not, here are five of the best suburbs to consider.
Gilbert is known for its excellent public schools, as well as its cleanliness, safety, and friendly residents.
If you're a traveler, you might want to live in Chandler, which is close to the Sky Harbor Airport. This area also has excellent public schools, restaurants, and shopping.
Paradise Valley is a smaller suburb of Phoenix, with a population close to 14,000. Residents rate the area highly, and houses tend to sit on large lots.
This tiny suburb is a family-friendly area, with excellent public schools and a beautiful golf resort.
Scottsdale is only 15 minutes away from Phoenix and boasts excellent public schools.
Four ways to get a great deal on a home in Phoenix
1. Find a great Phoenix real estate agent
Unless you're a real estate expert, you'll want to connect with an agent when buying a home in Phoenix. A great local realtor can help you navigate the Phoenix real estate market and guide you to neighborhoods that fit your criteria.
2. Determine what you need and want in a house
Work with your buyer’s agent to determine what you're looking for in a house. Your agent will ask questions to help you narrow down where you want to live in Phoenix, and they'll help you find a home that meets your needs while staying within your budget.
3. Find a lender and secure financing:
Unless you plan to buy your home with cash, you'll need to apply for a mortgage. For most home buyers in Phoenix, interest rate is one of the biggest factors when choosing a lender. Doing some upfront research and comparing options to find the best rate could save you tens of thousands of dollars over the life of your loan.
For example, in Arizona a typical house is worth $297,000. Assuming a 20% down payment, if you took out a 30-year mortgage for 3.5%, your monthly payment would be $1,060. But if you shopped around and found a 3% mortgage, your monthly payment would drop to about $1,002.
4. Negotiate for the best possible price
Once you find a property you're seriously interested in, your agent will help you make an offer. They'll also negotiate with the seller after the home inspection to ensure you get the best deal possible.
If you're looking for a realtor, Clever can connect you with the top buyer's agents in your area for a free, no-obligation consultation.
Fill out our online form, and a Clever representative will reach out to get the process started and answer any questions.
Finding a great local realtor is the first step in making your home buying dreams a reality. Our free service matches you with top agents from trusted brands like Keller Williams and RE/MAX.
Enter your zip code to request hand-picked agent matches in minutes. Compare your options until you find the perfect fit, or walk away with no obligation. Try Clever's free service today!