Market Update
October 21, 2015
Bill Gray
Educator, Arizona School of Real Estate & Business
At the present time, the Phoenix Metro area is the eighth most affordable housing market in the United States. First time buyers are now entering the housing market to take advantage of today’s prices. As of mid October, a median price home in the Phoenix Metro area is $208,000. The housing market below $250,000 is very strong; although sales volume has dropped as a result of a low supply of housing in that price range. Below is a list of median prices in neighboring states:
- San Jose, CA $980,000
- San Francisco, CA $841,600
- Anaheim, CA $685,000
- San Diego, CA $547,000
- Boulder, CO $442,000
- Los Angles, CA $435,000
- Austin, TX $338,000
- Salt Lake City, UT $234,000
- Phoenix, AZ $208,000