What price ranges can you expect in the Phoenix housing market?
Houses for sale in Phoenix can vary greatly in price due to market trends and the neighborhood they are located within. Therefore, it is up to the homebuyer or real estate agent to know the budget, research various areas and strategically scope out available inventory.
According to Realty Times, the average median price for the least expensive homes on the market for the first week of April is $45,000. These properties typically spend 114 days on the market. The mid-range portion of the inventory is priced at $157,000 on average with 143 days spent on the market. At the top percentile are the homes priced at $359,000 on average with 152 days typically spent on the market.
The Camelback East neighborhood features some of Phoenix’s pricier homes. Referred to as East Phoenix by locals, a homebuyer will most likely have to spend approximately $500,000 to purchase a property. Consider living in this community if you have excellent credit, a down payment of 15 percent or more and a reliable income that can afford to buy and maintain a home of this value.