Arizona Real Estate Market Statistics [Fresh Research]

The Arizona real estate market has seen significant growth in 2021, with median home prices increasing by 18.2% compared to 2020 and Phoenix seeing a 33.1% year-over-year price per square foot increase in January 2022. Scottsdale had an average home price of $772,000 last year while Tucson homes were on the market for just 24 days on average in December 2021. Tempe saw a 12.5% decrease in single-family home sales from 2020 to 2021 but permits increased by 18.9%. In Phoenix there was a 26.4% drop in active residential listings at the end of last year and Mesa’s median single family home price was $363,000 that same month; both cities also experienced increases when it came to rental prices throughout the course of 2021 as well as homeownership rates across all of Arizona which stood at 63.6%. Other areas such as Peoria ($246/sqft), Yuma (8

Arizona Real Estate Market Statistics Overview

In 2021, there was a 12.5% decrease in single-family home sales in Tempe, AZ, compared to 2020.

This statistic is a telling indication of the state of the Arizona real estate market. It shows that despite the overall trend of increasing home sales in the state, Tempe has seen a decrease in single-family home sales. This could be a sign of a cooling market in the area, or it could be a sign of a shift in the types of homes being purchased. Either way, this statistic is an important piece of information for anyone interested in the Arizona real estate market.

The median rental price in Arizona was approximately $1,653 per month in 2022.

This statistic is a key indicator of the Arizona real estate market, providing insight into the average cost of renting in the state. It is an important piece of information for anyone considering renting in Arizona, as it gives them an idea of what to expect in terms of monthly costs. Additionally, it can be used to compare rental prices in Arizona to other states, giving a better understanding of the overall market.

Single-family home permits in Arizona increased by 18.9% in 2021 compared to the previous year.

The 18.9% increase in single-family home permits in Arizona is a clear indication that the Arizona real estate market is on the rise. This statistic is a testament to the growing demand for housing in the state, and it speaks to the potential for further growth in the future. It is an important statistic to consider when discussing the current state of the Arizona real estate market.

In December 2021, the number of active residential listings in Phoenix, AZ, was down 26.4% compared to December 2020.

This statistic is a telling indication of the state of the Arizona real estate market. It shows that the number of active residential listings in Phoenix has decreased significantly in the past year, suggesting that the market is becoming more competitive and that buyers may have to act quickly to secure a property. This could be a sign of a strong market, as fewer listings could mean that prices are rising and that demand is high. It could also be a sign of a struggling market, as fewer listings could mean that fewer people are buying and that prices are dropping. Either way, this statistic is an important indicator of the current state of the Arizona real estate market.

The homeownership rate in Arizona was approximately 63.6% in 2020.

The homeownership rate in Arizona is a telling statistic when it comes to the state’s real estate market. It provides insight into the number of people who are able to purchase a home in the state, and how that number has changed over time. This statistic is especially important in the context of a blog post about Arizona real estate market statistics, as it can help to paint a picture of the current state of the market and how it has evolved over time.

In Peoria, AZ, the median listing price per square foot was $246 in January 2022.

The statistic of the median listing price per square foot in Peoria, AZ being $246 in January 2022 is a telling sign of the current state of the Arizona real estate market. It provides insight into the average cost of real estate in the area, which can be used to gauge the overall health of the market. This data can be used to inform potential buyers and sellers of the current market conditions, helping them make more informed decisions.

Yuma, AZ, saw an 8.5% increase in median home prices during the first quarter of 2021.

The 8.5% increase in median home prices in Yuma, AZ during the first quarter of 2021 is indicative of the overall trend in the Arizona real estate market. This surge in prices is a sign of the market’s strength and stability, and is a positive indicator of the potential for further growth in the area. It is a clear indication that the Arizona real estate market is on the rise, and that now is a great time to invest in the area.

In 2021, around 67% of Glendale, AZ, residents lived in single-family homes.

This statistic is indicative of the fact that the majority of Glendale, AZ residents are living in single-family homes, which is a strong indication of the stability of the Arizona real estate market. This statistic is important because it shows that the market is strong and that people are investing in single-family homes, which is a sign of a healthy real estate market.

Flagstaff, AZ, had a median home value of $521,321 in 2022.

The median home value of $521,321 in Flagstaff, AZ in 2022 is indicative of the booming Arizona real estate market. This figure speaks to the desirability of the area and the increasing demand for housing in the region. It is a testament to the strength of the Arizona real estate market and the potential for growth in the future.

About 76% of homes in Surprise, AZ, were considered affordable for the median income earner in 2021.

This statistic is a testament to the fact that the Arizona real estate market is a great option for those looking to purchase a home. It shows that the majority of homes in Surprise, AZ, are within reach of the median income earner, making it an attractive option for those looking to buy a home in the area. This statistic is a great indicator of the affordability of the Arizona real estate market and is an important factor to consider when looking at the overall market.

Conclusion

The Arizona real estate market has seen significant growth in 2021, with median home prices increasing by 18.2% and single-family home permits rising by 18.9%. Phoenix saw a 33.1% year-over-year increase in price per square foot while Scottsdale had an average home price of $772,000 for the same period. Tucson homes sold quickly with an average days on market of 24 days in December 2021 and Tempe experienced a 12.5% decrease in single family sales compared to 2020 figures. The rental market was also strong across the state, with the median rent being approximately $1,653 per month throughout 2022 and Gilbert seeing a 6.2% year over year increase during that time frame as well . Homeownership rates were high at 63%, while 76 % of Surprise homes were considered affordable for those earning the median income level last year . New construction homes have been popular too , especially Goodyear where they had a median sale price of $425 990 this January . Finally , Casa Grande witnessed its own surge with 9 1 % more expensive houses than before

Overall , it is clear that Arizona’s real estate industry has enjoyed considerable success over recent years due to various factors such as low mortgage interest rates and increased demand from buyers looking to move out west or invest their money into property there . With these trends expected to continue into 2022 , now may be one of best times ever for potential homeowners or investors interested in taking advantage of all that Arizona’s housing sector has offer them.

References

0. – https://www.armls.com

1. – https://www.census.gov

2. – https://www.neighborhoodscout.com

3. – https://www.housingpredictor.com

4. – https://www.rentdata.org

5. – https://www.coloradoan.com

6. – https://www.constructiondive.com

7. – https://www.azcentral.com

8. – https://www.zillow.com

9. – https://www.tucson.com