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Phoenix is the capitol and largest city in the state of Arizona with a population of 1,561,000. The whole metro area, known as “The Valley of the Sun”, is home to 4.3 million. Incorporated in 1881, Phoenix has grown considerably and now occupies an area of 517.9 square miles with a population density of 3,317 people per square mile.
Phoenix is a great place to buy a home and settle down. This growing city has much to offer. Besides weather that is great year round, you’ll find nature nearer than you think as well as an enriching cultural scene with historic and art museums and an exciting nightlife.
Most homes in Phoenix are single family dwellings though you can find condos as well as townhomes. There are a large number of historic districts in Phoenix where you can find homes in such styles as Tudor, English Cottage and Spanish Revival. There are many contemporary styles as well.
The real estate market in Phoenix is neutral at the moment. The median value of homes is $190,000. Prices have gone up 9.6% over the past year and are expected to continue to rise another 2.8% over the next year. The median list price is $225,00 while the median sold price is $200,000. Currently the real estate market in Phoenix is healthy.
Buying a home in Phoenix right now affords you the opportunity to increase your investment as well as enjoy life to the fullest in this exciting and ever growing city.