Published February 22, 2024

Phoenix Median Home Price Up 3.4%

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Written by John Sposato

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Phoenix Median Home Price Up 3.4%

by John A. Sposato

As you know, at the Arizona Home Group, we track the Phoenix real estate market diligently each month, 
bringing you information about housing inventory, transactions pending and also median sales price.

We saw a big jump in Median sales price month over month (MoM) from January to February… 

3.4% as a matter of fact. This is a big month over month number.



This actually translates into a 8.4% Increase since February 2023. (YoY)




Pent-Up Buyer Demand

Last month Sharon and I talked about the large pent-up buyer demand in the market, 
and we've already seen an increase in pending homes week over week this year. 

In addition, Inventory stayed relatively flat… 

As we have mentioned in past Market Reports, if Demand outpaces Supply, 
the Median Home Price will continue to rise in Phoenix.

If you'd like to have a detailed conversation about today's market and come up with 
a game plan for BUYING or SELLING sometime in 2024, we would be happy to chat.



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