{"id":45923,"date":"2024-07-19T11:29:23","date_gmt":"2024-07-19T18:29:23","guid":{"rendered":"https:\/\/www.homelight.com\/blog\/?p=45923"},"modified":"2026-04-05T23:52:30","modified_gmt":"2026-04-06T06:52:30","slug":"home-values-in-arizona","status":"publish","type":"post","link":"https:\/\/www.homelight.com\/blog\/home-values-in-arizona\/","title":{"rendered":"Home Values in Arizona: Latest Trends and Insights"},"content":{"rendered":"

Wondering how much your home is worth in Arizona’s current market? Whether you’re planning to sell, hoping to remove PMI<\/a>, or just curious about home values in the Grand Canyon State, having this knowledge can help you make well-informed decisions.<\/p>\n

In this article, we’ll explore home price trends in Arizona, provide insights on accurately estimating your home’s value<\/a>, and share practical tips to boost it. We’ll also equip you with tools to maximize your home’s selling price when the time is right.<\/p>\n\n\n\n\n\n

\n
\n
\n \"homelight\n <\/div>\n \n

Already Own a Home? What's It Worth Now?<\/h3>\n

Home values have rapidly increased in recent years. How much is your current home worth now? Get a ballpark estimate from HomeLight’s free Home Value Estimator.<\/p>\n \n

\n Get Estimate<\/a>\n <\/div>\n <\/div>\n<\/div>\n\n\n

Editor\u2019s note: This post is for educational purposes and is not intended to be construed as financial advice. HomeLight always encourages you to consult your own advisor.<\/em><\/p>\n

<\/div>\n

Current home values in Arizona<\/h2>\n

According to data from the Arizona Association of Realtors, the median sales price in June 2024 was $442,000<\/a> throughout the state of Arizona, up 2.7% year over year. The typical home sold for slightly less than the previous month when the median home price was $445,000.<\/p>\n

\u201c[Prices] in the Phoenix metro area have risen 7%, and the average home price is $470,500, so that\u2019s great news for the Arizona real estate market,\u201d said Shelley Ostrowski, President of the Arizona Association of Realtors, in a May interview with CW7 Arizona<\/a>.<\/p>\n

Although the Arizona Association of Realtors’ housing data only extends back to 2022, it reveals a substantial 23% increase in home prices statewide between June 2022 and June 2024.<\/p>\n

\u201cWhat we\u2019re seeing is a lack of inventory, and we\u2019re hoping that over the next quarter, we\u2019re going to see a rise in inventory, and that\u2019s going to help the flow and help increase home sales,\u201d added Ostrowski.<\/p>\n

In June, Arizona’s housing inventory surged 31.1%<\/a> compared to the same period last year, reaching a 4.47-month supply. Although this is a marked improvement, the market remains far below the 6-month supply typically needed for balanced conditions.<\/p>\n

The table below highlights the notable rise in Arizona home prices over the past two years:<\/p>\n\n\n\n\n\n\n
Year<\/td>\nMedian home price<\/td>\nPercent change year-over-year<\/td>\n<\/tr>\n
2024 (June<\/a>)<\/td>\n$442,000<\/td>\n+2.7%<\/td>\n<\/tr>\n
2023 (June)<\/a><\/td>\n$365,096<\/td>\n+4.8%<\/td>\n<\/tr>\n
2022 (June)<\/a><\/td>\n$351,946<\/td>\n+14.5%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Source: Arizona REALTORS\u00ae\u00a0<\/a><\/em><\/p>\n

This trend isn\u2019t unique to Arizona; it\u2019s evident across the country. According to the Case-Shiller National Home Price Index, U.S. home prices have surged 47%<\/a> since the start of 2020.<\/p>\n

As a result, homeowners nationwide have accumulated significant equity<\/a> in their properties, which can be used for various purposes, such as purchasing new homes, funding renovations, paying off debts, or saving for retirement. ICE\u2019s Mortgage Monitor report indicates that as of early 2024, the average mortgage-holding homeowner has $299,000 in equity<\/a>.<\/p>\n

For comparison, the table below shows median home prices in several of Arizona\u2019s largest cities:<\/span><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
City<\/td>\nMedian home price<\/td>\nPopulation<\/td>\n<\/tr>\n
Chandler<\/td>\n$525,650<\/td>\n281,107<\/td>\n<\/tr>\n
Flagstaff<\/td>\n$629,200<\/td>\n76,416<\/td>\n<\/tr>\n
Gilbert<\/td>\n$581,700<\/td>\n277,490<\/td>\n<\/tr>\n
Glendale<\/td>\n$404,300<\/td>\n255,490<\/td>\n<\/tr>\n
Mesa<\/td>\n$426,700<\/td>\n107,211<\/td>\n<\/tr>\n
Peoria<\/td>\n$492,100<\/td>\n201,001<\/td>\n<\/tr>\n
Phoenix<\/td>\n$427,500<\/td>\n1,662,607<\/td>\n<\/tr>\n
Scottsdale<\/td>\n$823,300<\/td>\n245,231<\/td>\n<\/tr>\n
Tempe<\/td>\n$467,700<\/td>\n191,336<\/td>\n<\/tr>\n
Tucson<\/td>\n$333,300<\/td>\n548,772<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Home value averages of multiple public transaction sites\u00a0<\/span><\/i><\/p>\n

Population estimates by <\/span><\/i>World Population Review<\/span><\/i><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Explore home values in Arizona, get accurate estimates, and find top agents to maximize your property\u2019s sale price.<\/p>\n","protected":false},"author":360,"featured_media":45933,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"cybocfi_hide_featured_image":"","footnotes":""},"categories":[320,1249,330],"tags":[1250],"class_list":["post-45923","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-add-value","category-arizona-real-estate","category-house-value","tag-selling-a-house-in-arizona"],"acf":[],"yoast_head":"\nHome Values in Arizona: Latest Trends and Insights<\/title>\n<meta name=\"description\" content=\"Explore home values in Arizona, get accurate estimates, and find top agents to maximize your property\u2019s sale price.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.homelight.com\/blog\/home-values-in-arizona\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Home Values in Arizona: Latest Trends and Insights\" \/>\n<meta property=\"og:description\" content=\"Explore home values in Arizona, get accurate estimates, and find top agents to maximize your property\u2019s sale price.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.homelight.com\/blog\/home-values-in-arizona\/\" \/>\n<meta property=\"og:site_name\" content=\"HomeLight Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/gohomelight\/\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-19T18:29:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-04-06T06:52:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2024\/07\/home-values-in-Arizona-1.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"563\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Kelsey Morrison\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@gohomelight\" \/>\n<meta name=\"twitter:site\" content=\"@gohomelight\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Kelsey Morrison\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"9 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Home Values in Arizona: Latest Trends and Insights","description":"Explore home values in Arizona, get accurate estimates, and find top agents to maximize your property\u2019s sale price.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.homelight.com\/blog\/home-values-in-arizona\/","og_locale":"en_US","og_type":"article","og_title":"Home Values in Arizona: Latest Trends and Insights","og_description":"Explore home values in Arizona, get accurate estimates, and find top agents to maximize your property\u2019s sale price.","og_url":"https:\/\/www.homelight.com\/blog\/home-values-in-arizona\/","og_site_name":"HomeLight Blog","article_publisher":"https:\/\/www.facebook.com\/gohomelight\/","article_published_time":"2024-07-19T18:29:23+00:00","article_modified_time":"2026-04-06T06:52:30+00:00","og_image":[{"width":1000,"height":563,"url":"https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2024\/07\/home-values-in-Arizona-1.png","type":"image\/png"}],"author":"Kelsey Morrison","twitter_card":"summary_large_image","twitter_creator":"@gohomelight","twitter_site":"@gohomelight","twitter_misc":{"Written by":"Kelsey Morrison","Est. reading time":"9 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":["Article","BlogPosting"],"@id":"https:\/\/www.homelight.com\/blog\/home-values-in-arizona\/#article","isPartOf":{"@id":"https:\/\/www.homelight.com\/blog\/home-values-in-arizona\/"},"author":{"name":"Kelsey Morrison","@id":"https:\/\/www.homelight.com\/blog\/#\/schema\/person\/e817a66a34e68b76ff25567c7d85f8c7"},"headline":"Home Values in Arizona: Latest Trends and Insights","datePublished":"2024-07-19T18:29:23+00:00","dateModified":"2026-04-06T06:52:30+00:00","mainEntityOfPage":{"@id":"https:\/\/www.homelight.com\/blog\/home-values-in-arizona\/"},"wordCount":483,"publisher":{"@id":"https:\/\/www.homelight.com\/blog\/#organization"},"image":{"@id":"https:\/\/www.homelight.com\/blog\/home-values-in-arizona\/#primaryimage"},"thumbnailUrl":"https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2024\/07\/home-values-in-Arizona-1.png","keywords":["selling a house in arizona"],"articleSection":["Add Value","Arizona's Seller Resource Center","What's My Home Worth?"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.homelight.com\/blog\/home-values-in-arizona\/","url":"https:\/\/www.homelight.com\/blog\/home-values-in-arizona\/","name":"Home Values in Arizona: Latest Trends and Insights","isPartOf":{"@id":"https:\/\/www.homelight.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.homelight.com\/blog\/home-values-in-arizona\/#primaryimage"},"image":{"@id":"https:\/\/www.homelight.com\/blog\/home-values-in-arizona\/#primaryimage"},"thumbnailUrl":"https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2024\/07\/home-values-in-Arizona-1.png","datePublished":"2024-07-19T18:29:23+00:00","dateModified":"2026-04-06T06:52:30+00:00","description":"Explore home values in Arizona, get accurate estimates, and find top agents to maximize your property\u2019s sale price.","breadcrumb":{"@id":"https:\/\/www.homelight.com\/blog\/home-values-in-arizona\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.homelight.com\/blog\/home-values-in-arizona\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.homelight.com\/blog\/home-values-in-arizona\/#primaryimage","url":"https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2024\/07\/home-values-in-Arizona-1.png","contentUrl":"https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2024\/07\/home-values-in-Arizona-1.png","width":1000,"height":563,"caption":"Source: (Brian Wangenheim\/ Unsplash)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.homelight.com\/blog\/home-values-in-arizona\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.homelight.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Home Values in Arizona: Latest Trends and Insights"}]},{"@type":"WebSite","@id":"https:\/\/www.homelight.com\/blog\/#website","url":"https:\/\/www.homelight.com\/blog\/","name":"HomeLight Blog","description":"Real Estate Advice from America's Top Agents","publisher":{"@id":"https:\/\/www.homelight.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.homelight.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.homelight.com\/blog\/#organization","name":"HomeLight","url":"https:\/\/www.homelight.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.homelight.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2017\/11\/logo-hr-color.png","contentUrl":"https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2017\/11\/logo-hr-color.png","width":1348,"height":262,"caption":"HomeLight"},"image":{"@id":"https:\/\/www.homelight.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/gohomelight\/","https:\/\/x.com\/gohomelight","https:\/\/www.linkedin.com\/company\/homelight\/","https:\/\/www.youtube.com\/channel\/UCimugR9XF17-OZ7B9fNnxWw","https:\/\/en.wikipedia.org\/wiki\/HomeLight"],"description":"Everything you need to know to sell your house faster and for more money. Articles, guides, and advice from top agents all over the U.S.","email":"support@homelight.com","telephone":"(888) 688-0350","legalName":"HomeLight","foundingDate":"2012-01-01","numberOfEmployees":{"@type":"QuantitativeValue","minValue":"201","maxValue":"500"}},{"@type":"Person","@id":"https:\/\/www.homelight.com\/blog\/#\/schema\/person\/e817a66a34e68b76ff25567c7d85f8c7","name":"Kelsey Morrison","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.homelight.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/693f5c1346908c1078d62904cd0e3c3b1e33d408ca39bff6a2579a339980141f?s=96&d=blank&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/693f5c1346908c1078d62904cd0e3c3b1e33d408ca39bff6a2579a339980141f?s=96&d=blank&r=g","caption":"Kelsey Morrison"},"description":"Kelsey Morrison worked as an editor for HomeLight's Resource Centers. She has seven years of editorial experience in the real estate and lifestyle spaces. She previously worked as a commerce editor for World of Good Brands (eHow.com and Cuteness.com) and as an associate editor for Livabl.com. Kelsey holds a bachelor\u2019s degree in Journalism from Concordia University in Montreal, Quebec, and lives in a small mountain town in Southern California.","url":"https:\/\/www.homelight.com\/blog\/author\/kelseymorrison\/"}]}},"_links":{"self":[{"href":"https:\/\/www.homelight.com\/blog\/wp-json\/wp\/v2\/posts\/45923","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.homelight.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.homelight.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.homelight.com\/blog\/wp-json\/wp\/v2\/users\/360"}],"replies":[{"embeddable":true,"href":"https:\/\/www.homelight.com\/blog\/wp-json\/wp\/v2\/comments?post=45923"}],"version-history":[{"count":0,"href":"https:\/\/www.homelight.com\/blog\/wp-json\/wp\/v2\/posts\/45923\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.homelight.com\/blog\/wp-json\/wp\/v2\/media\/45933"}],"wp:attachment":[{"href":"https:\/\/www.homelight.com\/blog\/wp-json\/wp\/v2\/media?parent=45923"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.homelight.com\/blog\/wp-json\/wp\/v2\/categories?post=45923"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.homelight.com\/blog\/wp-json\/wp\/v2\/tags?post=45923"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}