Are Home Prices Going Up in Arizona?

Are home prices going up in Arizona ?You’ve probably heard that the real estate market is hot. But if you’re selling a house in Arizona, you’re probably most curious about what’s going on in the Grand Canyon state.

What’s the real estate market like right now in Arizona? Are home prices going up in Arizona? What’s the best way to sell? At Cash For Homes Arizona, we’re all about helping empower sellers. Here’s what you need to know about home prices in Arizona right now: 

Are home prices going up in Arizona ?

The short answer? Yes. Home prices are going up in Arizona. Keep reading to learn the specifics and what it means for you as a home seller…

The state of home sales in Arizona

The real estate market is hot across the nation. However, it’s particularly hot in Arizona. In fact, according to a recent forecast on Realtor.com, it’s predicted that 2021 sales will show an 11.4% jump in the market over 2020. 

Average Price per Sale 2021

Getting down to dollars and cents, how much are houses fetching in Arizona these days?

In Phoenix, the median price is currently $345,000 — that’s about $15,000 higher than the median for the country.  

Of course, that’s an average — prices may be higher or lower depending on the property and location. 

Home prices ARE going up in Arizona?

Home prices are dictated by supply and demand. In the simplest terms, a lot of people want to live in Arizona right now, and there are fewer properties available than there are potential buyers. That has a way of driving up prices.

It’s not just house prices — rent prices are on the rise, too, having jumped about 8% in 2021. 

Why it’s now a seller’s market

What’s creating the frenzied demand for Arizona housing in 2021? A variety of things.

First, you’ve got the obvious things: great weather, culture, universities, and a reasonable cost of living. 

Second, with more and more people working from home, there’s greater flexibility for people to live where they want rather than within a specific driving distance of an office.  

Additionally, Arizona has some great infrastructure going on. Prices are rising, which is bringing more building and development to the state. Overall, the economy and financial health of the nation seems to be improving.  

When you put all of these things together, you’ve got a recipe for demand. That means that for sellers, it could be a very advantageous time to put your house on the market.

How to sell your home in Arizona

If you’ve decided now’s the time to sell, how do you get started? 

Some sellers may choose to pursue the traditional home-selling process, which involves a seller’s agent, staging your home, dealing with repairs and inspections, and dealing with price negotiations. 

Other sellers may want to speed up the process and avoid dealing with costly repairs. For them, a cash sale could be the solution. 

Let us help you!

Does the traditional process of selling a home seem like a huge hassle?  

A cash sale could be the right fit for you.  It can speed up the process and reduce the amount of work you need to put into the momentous task of selling a home. 

Cash sales are not contingent on mortgage financing. At Cash For Homes Arizona, we make offers on homes “as-is” — no repairs or staging required.

Interested? Check out this post to learn more about how it works.

Conclusion

Interested in taking advantage of rising home prices in Arizona by putting your property on the market? There’s never been a better time.

However, if the process of working with a realtor and dealing with repairs sounds expensive and tedious, you may want to consider selling your home for cash. Cash For Homes Arizona’s goal is to make fair offers on houses for cash deals. 

Are you interested in selling your home in Arizona while demand is high?

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