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The median home price in metro Phoenix has fallen $56K

Home sales in the U.S. and the Phoenix area fell in April, according to recent data provided by the National Association of Realtors.

Celebrity real estate agent Tony Giordano said the median price in the region fell nearly 8% since April 2022 due to higher interest rates — but there are some caveats.

“Phoenix or a strong neighborhood that’s highly in demand, those could be seeing an uptick still. But overall, the market is trending down in average sales price. And that’s nationally, too,” said Giordano.

According to data from the Arizona Regional Multiple Listing Service, the median sales price in the Phoenix Metro Region was $419,000 in March. That’s down from May of last year when the median was $475,000.

Tom Maxedon was the host of KJZZ’s Weekend Edition from 2017 to 2024.