Rising Home Prices Challenge Affordable Sales in Metro Phoenix

As home prices continue to climb in Metro Phoenix, selling affordable homes is becoming increasingly tough. Over the last decade, the proportion of homes sold for under $200,000 has plummeted, dropping from half of all sales to just 21%. A recent report indicates that, nationwide, home prices have surged nearly 40% since 2019.

While regions like the South and Midwest are home to more affordable housing options, Arizona features four counties where the average home price remains below $200,000.

Current Home Prices in Arizona

Here are the median sales prices for existing homes in 2023, based on data from the National Association of Realtors:

• Apache County: $69,020
• Cochise County: $219,660
• Coconino County: $479,800
• Gila County: $229,570
• Graham County: $183,960
• Greenlee County: $96,880
• La Paz County: $121,230
• Maricopa County: $459,020
• Mohave County: $288,520
• Navajo County: $221,520
• Pima County: $326,870
• Pinal County: $357,320

Cheapest US Counties for Home Purchase

Texas appears in five of the ten cheapest counties for home buying in the United States, while Kansas claims three spots. Here are the median sales prices for these counties in 2023:

1. Todd County, South Dakota: $42,940
2. Cochran County, Texas: $50,140
3. McDowell County, West Virginia: $50,960
4. Kottle County, Texas: $53,690
5. Stonewall County, Texas: $53,690

Most Expensive US Counties for Home Purchase

California dominates the list, with six of the ten most expensive counties for home sales. Here are the median sales prices for these areas in 2023:

1. Santa Clara County, California: $1,583,130
2. San Mateo County, California: $1,573,470
3. Marin County, California: $1,454,450
4. San Francisco County, California: $1,332,660
5. Nantucket County, Massachusetts: $1,313,450