Airdeed Homes study shows that median home prices are increasing in wealthy Arizona cities while other cities experience declines.

PHOENIX, ARIZONA, UNITED STATES, October 23, 2023 /EINPresswire.com/ -- Airdeed Homes, a leading real estate search website, has conducted a comprehensive study that analyzes home prices in 20 major cities of Arizona. The study was designed to give Arizona homebuyers insight into real estate trends for Arizona homes for sale. It compared the median and average listing price and the number of active listings to previous months. The data was collected in October 2023 to ensure accuracy and reliability.

The results showed that median home prices in the wealthier cities increased. Nine out of ten cities with the highest median home prices increased from previous months. Queen Creek was the lone city that did not see an increase in home prices. Phoenix houses for sale experienced a 5% increase in median home prices.

The remaining ten cities analyzed in the study shows that 7 out 10 cities saw their median house prices decrease. This list includes major cities such as Tempe, Tucson, Mesa and more.

Top 5 Cities Based On Median Home Price

1. Sedona - Median listing price: $1,198,800.00
2. Scottsdale - Median listing price: $1,149,000.00
3. Flagstaff- Median listing price: $849,950.00
4. Queen Creek - Median listing price: $629,990.00
5. Gilbert - Median listing price: $629,000.00

These cities are all major tourist destinations. This trend has been seen in recent years as investors in short-term rentals have increased demand for housing. This trend has particularly affected Arizona Real Estate because of hotspots like Sedona and Flagstaff and the Luxury Phoneix Area.

Bottom 5 Cities Based On Median Home Price

1. Bullhead City - Median listing price: $439,450.00
2. Maricopa - Median listing price: $431,445.00
3. Tucson - Median listing price: $389,900.00
4. Buckeye - Median listing price: $369,490.00
5. San Tan Valley - Median listing price: $299,900.00

Tucson is the most notable of the five cities in the bottom 5. In this study, Tucson homes for sale experienced a drop of about 15,000 in the price of homes. Tucson is the second largest city in the state. Keep an eye on the future fluctuations of the Tucson real estate markets. This may indicate a more significant downturn.

About Airdeed Homes

Airdeed is a cutting-edge real estate search engine that has revolutionized how buyers search for local real estate. Their ultimate goal is to equip home buyers and sellers with the information they need to make informed decisions about their housing needs. Airdeed wants to empower its users with comprehensive local business data on nearby real estate properties for sale.

Cory Weikel
Airdeed Homes
media@airdeed.com
Visit us on social media:
Facebook
Twitter
Other

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.