Sizzling or Slowing? Find the Hottest (and Coolest) Phoenix Real Estate Markets in 2024

Discover the Hottest and Coolest Places in Arizona's Real Estate MarketPhoto byKelly Cook

The Phoenix real estate market is a whirlwind of change! Some areas are scorching hot, while others are simmering down. If you're a savvy buyer or seller in the Greater Phoenix, Scottsdale, or nearby areas, knowing which suburbs are sizzling and which are slowing is your secret weapon.  Let's uncover the hottest and coolest real estate markets in Phoenix right now as we look ahead into 2024.

Buckeye – A Buyer's Bargain in the Making?

Buckeye, a sprawling suburb on Phoenix's western edge, is currently experiencing a cool market.  Prices are softening, homes are staying listed longer, and demand is weakening. Could this signal a buyer's opportunity, especially those willing to commute into the city in exchange for more affordable options?

Buckeye's expansive size and ongoing development make it a prime candidate for finding below-average home prices compared to more central suburbs. If you're not tied to a super-short commute and are prioritizing spacious homes or larger lots, Buckeye could be a hidden gem.

Queen Creek – Rural Charm, Softer Market 

In the East Valley, Queen Creek's market is also on the cooler side.  Despite its attractions like the peach orchard and olive oil mill, real estate indicators show declining prices and less buyer activity.  Could this be a chance to snag a charming property at a discount if you're patient and willing to time the market right?

Queen Creek offers a unique blend of rural charm and modern amenities. Think horse properties, scenic trails, yet easy access to shopping and dining. If you're seeking a lifestyle change and are comfortable potentially waiting out a slower market for the right home, Queen Creek could be your dream come true.

Goodyear – Growth, Affordability, and a Hot Market

Goodyear is one of the Phoenix area's hottest markets. Newer homes, proximity to amenities, and a touch of mountain scenery are attracting buyers.  With increasing demand and a limited supply of homes, the Goodyear market is trending firmly upwards.

Goodyear boasts a balance of affordability (especially compared to central Phoenix/Scottsdale) and a newer housing stock. This makes it a top choice for families and young professionals seeking a modern living experience.  Expect higher competition and potential bidding wars on properties, but the investment potential in this growing area is strong.

Whether you're buying or selling in the Phoenix area, understanding the trends in specific suburbs gives you crucial leverage.  Staying informed about the ever-changing dynamics in these hottest and coolest markets allows you to make the smartest real estate moves. That might mean snapping up a deal in a cooldown area or positioning your home perfectly to cash in on a hot seller's market.

We have so many people contacting us who are moving to the Scottsdale/Phoenix area, and we are so happy to make the transition easier for them. If you have any additional questions about all the things that come with living in Phoenix, Arizona, reach out to us at info@cookandassociatesaz.com or by phone at (480)660-5974!