While the environment has turned quickly away from a seller’s market to an impending buyer’s market, it’s not that bad for Phoenix area home sellers. Most are still walking away with a profit, even when based on a short ownership timeline. Appreciation rates for homeowners who have owned their home for at least 2 years based on sales price per square foot through the MLS is plus 33.6%. Longer ownership results in more impressive appreciation rate gains: 3 years: +59.9%, 4 years: +68.1%, and 5 years: +84.8%. So most Valley of the Sun sellers will realize a tidy profit after they sell their home despite the declining market.
