Are you thinking about buying a home in sunny Arizona, but you don't know where to start? It's understandable since moving to a new state, or different area can require additional research and insider knowledge. Lucky for you, we have both of those things, so keep reading to discover how much it costs to buy a home in Arizona and what you need to know about homes in this state.
What is the average home price in Arizona?
While housing prices vary by location, the median price for Arizona homes in 2021 is about $350,000. That is about 12.7% higher than last year, with an average median price of about $309,000. This increase will most likely slow down, but we won't see a significant dip in prices, so you can expect a steady rise in prices throughout the year (even if it's at a slower pace).
Where is the cheapest place to buy a house in Arizona?
As you know, the housing market changes, and currently, housing prices are rising fairly steadily. So you might be wondering, will housing prices go down in 2021, and are there still affordable areas you can move to? Well, even with a rise in prices, here is a list of the TOP most affordable places to live in Arizona:
- Queen Creek
- Casa Grande
- Sierra Vista
This is not an extensive list, but the most current for housing trends. We also want to give Litchfield Park and Prescott honorable mentions for offering affordable home prices.
Where Should I not Live in Arizona?
While this is a purely personal choice, you should avoid living in Kingman, Avra Valley, Holbrook, Snowflake, and Coolidge if you want to base your decision on crime statistics. You also need to consider if you're going to enjoy living in a city like Phoenix, or would you be happier in a more Forrest-like environment like Flagstaff?
When picking a place to live, you should consider a few things like:
Cost of Living
Just keep in mind that if it's in your budget, we always recommend staying in the area you want to buy in for a few days so you can get to know the area and community. Just because something looks good on paper doesn't mean that it will be the right fit for you and your family. We also have an in-depth guide of the best places to live in Arizona that you can check out over here.
Are Housing Prices Going Down in Arizona?
It's not likely that housing prices will lower in 2021. With a steady influx of new Arizona residents and a decline of available homes, the current market prices will most likely not decline. While there has been fear of a housing bubble, experts don't see that happening anytime soon.
Currently, it looks like the increase in prices will slow down, but it won't stop. With a rise in forbearance options, equity cushions, and more up-front mortgage lending- we will most likely avoid a market crash. With that being said, however, we should note that the current market is not sustainable for the long term.
How to Sell my Home in Arizona
If you need to sell your Arizona home to move to a new location, The Trusted Home Buyer can help. We offer unique solutions for home buying and always provide a fair cash price for your home. We know that moving can have some complications, so we offer flexible closing dates and never charge you any fees.