What is the cost of living in Phoenix?

The median listing price for a home in Phoenix-Mesa-Chandler, AZ is $475,000 right now. This price has seen a small dip recently, both month-over-month and year-over-year. The average listing price is higher at $749,981. This means half the homes listed are below $475,000 and half are above. Overall, home prices are slightly lower than they were a year ago, with the median listing price down 4.8% over the past year. Looking at it another way, the median price per square foot is $264, which is 1.4% less than a year ago. Homes are staying on the market for an average of 67 days before going under contract, which is a bit quicker than the same time last year. About 27.6% of homes have had their prices lowered. This number is slightly down from last year. This tells us that sellers are adjusting prices, but perhaps not quite as aggressively as before. There are currently 17,707 active listings, which is 5.2% more than last year. New listings have also held steady, with 6,104 homes added in the most recent month. This means there are more choices for buyers compared to a year ago. For those looking to buy, the current market shows slightly lower prices and more homes to choose from than a year ago, which could be helpful for finding the right place.