Favorite Places to Live in Phoenix

The housing market has reflected the volatility the COVID-19 pandemic has placed on the economy. In this aggressive sellers market, what can buyers expect to spend in some of the top Phoenix neighborhoods? Are homes selling for the asking price? Are home sales on the rise in Phoenix? If you’re trying to decide if living in Phoenix is right for you, check out the home sale statistics in five of the most popular parts of Phoenix.

 

 

Located in the northwest valley, just west of Glendale, Peoria is one of the fastest-growing suburbs in the Phoenix Metro Area. Here you will find a plethora of new development and new construction housing. This is the perfect place for those looking for everything new and shiny but at a relatively attractive price for a prospective home buyer. Homes for sale in Peoria have an average listing price of $240/sqft. The average sales price continues to climb and is a little over $510k.

 

 

Learn More: Everything you need to know about Peoria, Arizona

 

Chandler:

Chandler has been an extremely desirable, family-friendly area for years. Perhaps this is due to the top-rated schools in Chandler. But it isn’t just great schools and family-friendly parks, Chandler is known for offering its residents a high quality of life and a beautiful place to live and work. Chandler currently has active listings with an average list price of around $258/sqft. The average sales price is $568k, making it just a bit more expensive than the aforementioned Peoria.

 

Right in the center of the valley, Tempe is one of the most well-located Phoenix suburbs. As the home of Arizona State University, many consider Tempe to be for the young and hip…but don’t rule it out if you are over the age of 25! Yes, Tempe does have plenty of college residents. It’s a pretty large area, however, and as you travel south you can find very unique and family-friendly neighborhoods. There are currently active listings in Tempe with a $283/sqft average list price. Sales prices are trending downward in Tempe, with an average of $499K. This area may have hit its peak earlier in the year, but you can still expect to pay just around or even over $500K for a home in Tempe.

 

 

Learn More: What’s it like living in Tempe, Arizona

 

Scottsdale is located just to the north of Tempe, meaning it shares the accessibility and convenience of being right in the middle of Phoenix. Scottsdale is one of the most desirable parts of town because it offers pretty much everything to both visitors and residents. Shopping, nightlife, dining, outdoor activities, you can find it all in Scottsdale. With so many perks, living in Scottsdale comes at a price. There are currently active homes for sale in Scottsdale, with an average list price of $511/sqft. The average sales price is now just above $1.14M, making buying a home in Scottsdale anything but cheap.

 

Learn More: Where to Live in Scottsdale, AZ

 

Scottsdale may have quite a deal of luxury housing, but nothing like what you will find in Paradise Valley. Paradise Valley is known for its large estates on acre+-sized lots. Much of the amenities and activities of Scottsdale can be enjoyed by Paradise Valley residents as well given the close proximity of these two neighborhoods. There are active homes for sale in Paradise Valley, with a $767/sqft average listing price. If you want to call Paradise Valley home, you better have deep pockets or a really good loan, because the average sales price in Paradise Valley is $3M+

 

Gilbert has long been one of the best places to raise a family in Arizona. Top-ranked schools, nice neighborhoods, and great outdoor activities make Gilbert extremely desirable. But perhaps its best feature is the affordability of Gilbert. While it has historically been one of the best places in Phoenix to get the most bang for your buck, the competition in the housing market is changing that. Gilbert currently has an average listing price of $258/sqft. The average sales price for a home in Gilbert is $590K, so even though this area is more affordable than some of the affluent neighborhoods on our list, it still might be cost-prohibitive to many.

 

 

If you’re thinking of moving to Phoenix and you want to buy, right now is just a hard time to do that. There really isn’t any way around it. We are experiencing a seller’s market across the entire country, and areas like Phoenix that are known to attract those fleeing more expensive cities are only going to see a higher and higher demand for housing. Some parts of town have plateaued in average sales price, and some are even on the downward trend. But for the most part, buying is going to be hard for a while. Homes are selling for hundreds of thousands over the asking price (which is apparent from the statistics above.) Even if you’re prepared to offer over the asking price, you could be easily outbid without even knowing it or ever getting a chance to offer more.

 

The best thing you can do if you want to buy in Phoenix right now is to remain positive and know that eventually, you will be successful. Know what you want in a home, and what you really need in a home. Be aware of your budget and your absolute ceiling. Most of all be open-minded to homes and parts of town you might not have considered. You will probably lose a few offers first, and you might not be able to find exactly what you want in the part of town you’re interested in. Stay positive! Somewhere out there is your perfect home in Phoenix.