Along with its neighboring cities and suburbs, Phoenix became one of the most popular cities in the relocation craze of the last decade. It remains well-liked among young professionals, families, and retirees – perhaps for different, but equally appealing, reasons. So, what did the Phoenix housing market look like this summer?

A recent statistic revealed that contrary to last year, when many asking prices were still in the high $200,000’s, buyers are now more likely to pick up a home in the low-to-mid $100,000’s. In fact, same report revealed that the average asking price on single family homes in Phoenix was $132,379 in June. But a little haggling never hurt anyone, and buyers in Phoenix figured this out; once the deals were done, the average sale price actually shrunk to $129,459. This comes out to about $76 per square foot – a highly competitive rate when compared with other major markets. All in all, the single family home transactions amounted to 2,182; down by 4.84% since May, but still a strong figure.

Trends in the Phoenix housing market still favor new home communities; however, condominiums remain popular with students and professionals. Another interesting development is the popularity resurgence of the mid-century modern home in Phoenix (built in the 50’s/60’s, marked by distinct architectural details) – and not just with the art crowd! If any of these options sound exciting to you, now’s a great time to take a look at Phoenix real estate.