Greater Phoenix Real Estate

Greater Phoenix All Property Types Market Highlights

As of Jul 10, 2025, the residential real estate market in Metro Phoenix is experiencing notable shifts in supply and pricing dynamics.

• The overall inventory of active listings is currently at 29,956, reflecting a significant increase from 25,616 three months ago.
• The average price per square foot for active listings is now at $348, suggesting rising home prices as demand persists.
• Meanwhile, the average sold price has reached $581,246, showing a remarkable resilience amid these changing market conditions.

An In-Depth Look at the Greater Phoenix All Property Types Market

In a deeper analysis of the Metro Phoenix residential real estate market, we see that current trends present both opportunities and challenges for buyers and sellers alike.

• Active Listings: The total number of active listings has climbed significantly to 29,956, up from 25,616 just three months ago, highlighting an increase in available homes for buyers. This rise in inventory, combined with the current months of inventory standing at 4.2 months, indicates a more balanced market that doesn't heavily favor either buyers or sellers. This level of inventory typically allows buyers to have more options and negotiate better prices.
• Days on Market (DOM): On average, homes are taking more time to sell, with the DOM rising to 114 days, compared to 103 days three months prior. This could suggest that buyers are being more selective or that market conditions are becoming slightly less urgent.
• Pricing Trends: Interestingly, while the average price per square foot for active listings is $348, the average sold price stands at $581,246. This gap points towards a potential adjustment where sellers may need to reconsider their pricing strategies. The average sold price reflects consistent buyer interest, in stark contrast to concerns over higher mortgage rates impacting overall housing affordability.
• Historical Context: When we look back a year, the market has changed substantially, with the average sold price climbing from $553,306 to $581,246, showcasing a resilience amidst fluctuating economic conditions. In the past 12 months, active listings have increased from 12,095, highlighting a significant shift in available inventory.
• Market Position: Currently, with 4.2 months of inventory, we are in a more neutral territory, transitioning between a seller’s market and a buyer's market. This shift is critical for prospective buyers to understand, as it may allow for more negotiating leverage as they navigate their search for the ideal home.
• Conclusion: With more homes available and increasing DOMs, buyers currently possess greater power to negotiate. Sellers may need to adapt their strategies, potentially reconsidering their listing prices to remain competitive in this evolving market landscape.

This period appears to represent an opportunity for those looking to enter the housing market, as trends of increased inventory and slightly longer sell times could lead to more favorable purchasing conditions.