How Much Have Phoenix Homes Appreciated in 2021?

The appreciation rate for Phoenix homes has risen considerably in 2021.

I have some great information from The Cromford Report to share with you today regarding appreciation rates in our Phoenix real estate market. Specifically, we’ll look at the average list price per square foot for all properties currently under contract.

 

As you can see at 0:36 in the video, back in January we were at $220 per square foot, but as of March 20, we’re at $242.20 per square foot. That’s a 9% increase. Obviously a lot of things can change in our market, but if we stayed on this upward trend in 2021, homes could appreciate as high as 45%.

Which factors can affect this trend? A lot of people may be waiting to get vaccinated to put their homes on the market. Also, interest rates could change. We’re watching this situation closely, but you can see a huge difference between now and years past. 

If you’re thinking about selling or are curious about your home’s value, don’t hesitate to reach out to me. I’d be happy to provide a market analysis of your local area and help you in any way I can. I look forward to hearing from you.