Greater Phoenix
Real Estate
Brian Adamski, Realtor
17+ Years of Experience
Honesty. Trustworthy. Integrity.
Greater Phoenix Market Overview
Highlights
As of March 17, 2025, the single-family home market in Greater Phoenix showcases distinct trends impacting both buyers and sellers.
- Over the past month, active listings have risen to 22,942, displaying a significant increase from just 17,184 three months ago.
- The average days on market (DOM) for active listings has decreased to 78 days, compared to 102 days three months ago, indicating a quicker sales pace.
- However, the months of inventory currently sits at 5.6 months, suggesting a balanced market where neither party holds a clear advantage.
Market Snapshot as of 3.17.2025 | Inventory and Pricing |
---|---|
Active Listings: | 16,701 |
Avg Price: | $929,955 |
Avg Days on Market: | 78 |
Avg Price per Sqft: | $322 |
Months of Inventory: | 5.6 |
Sold Listings (last mo): | 4,870 |
Avg Price: | $704,221 |
Avg Days on Market: | 62 |
Avg Price per Sqft: | $297 |
Sold Listings (last 3 mos): | 12,336 |
Avg Price: | $684,060 |
Avg Days on Market: | 63 |
Avg Price per Sqft: | $293 |
Highlights
As of March 17, 2025, the condo/townhome market in Greater Phoenix reflects evolving trends that merit attention from buyers and sellers alike.
- Currently, there are 4,958 active listings, up from 3,579 three months ago, indicating a growing supply of available properties.
- The average days on market (DOM) for active listings has slightly increased to 84 days, reinforcing a gradual slowing in sales velocity.
- The current average sold price stands at $460,047, which is an increase compared to $425,278 three months ago, showing continued buyer interest despite prolonged market times.
- Additionally, the months of inventory have risen to 6.6, suggesting a shift towards a more balanced market where options are expanding for prospective homebuyers.
Market Snapshot as of 3.17.2025 | Inventory and Pricing |
---|---|
Active Listings: | 3,855 |
Avg Price: | $506,465 |
Avg Days on Market: | 84 |
Avg Price per Sqft: | $340 |
Months of Inventory: | 6.6 |
Sold Listings (last mo): | 834 |
Avg Price: | $460,047 |
Avg Days on Market: | 69 |
Avg Price per Sqft: | $316 |
Sold Listings (last 3 mos): | 2,239 |
Avg Price: | $486,713 |
Avg Days on Market: | 66 |
Avg Price per Sqft: | $324 |
Highlights
As of March 17, 2025, the land market in Greater Phoenix is exhibiting some notable trends that potential buyers and sellers should observe.
- Over the past month, active listings have climbed significantly, reaching a total of 3,905, which is up from 3,554 just three months ago.
- The average price per square foot for active listings has remained relatively stable at around $8.
- In the past month, the average sales price for sold listings stands at $318,610, which corresponds to a slight fluctuation compared to prior periods.
Market Snapshot as of 3.17.2025 | Inventory and Pricing |
---|---|
Active Listings: | 3,571 |
Avg Price: | $622,872 |
Avg Days on Market: | 286 |
Avg Price per Sqft: | $8 |
Months of Inventory: | 16.3 |
Sold Listings (last mo): | 255 |
Avg Price: | $318,610 |
Avg Days on Market: | 183 |
Avg Price per Sqft: | $8 |
Sold Listings (last 3 mos): | 719 |
Avg Price: | $327,903 |
Avg Days on Market: | 176 |
Avg Price per Sqft: | $8 |
Highlights
As of March 17, 2025, the multifamily market in Greater Phoenix shows noticeable shifts in key metrics that impact both buyers and sellers.
- Over the past month, the number of active listings has expanded to 336, a significant rise from just 243 three months ago.
- The average days on market (DOM) for these listings has decreased slightly, now resting at 118 days.
- Sold prices recently averaged $652,454, showing a modest increase compared to the average sold price of $636,333 three months ago.
- Months of inventory currently stands at 9.8, demonstrating a rise in options available for prospective buyers.
Market Snapshot as of 3.17.2025 | Inventory and Pricing |
---|---|
Active Listings: | 283 |
Avg Price: | $1,349,103 |
Avg Days on Market: | 118 |
Avg Price per Sqft: | $322 |
Months of Inventory: | 9.8 |
Sold Listings (last mo): | 46 |
Avg Price: | $652,454 |
Avg Days on Market: | 67 |
Avg Price per Sqft: | $252 |
Sold Listings (last 3 mos): | 103 |
Avg Price: | $701,229 |
Avg Days on Market: | 72 |
Avg Price per Sqft: | $291 |
Info About Greater Phoenix
The Greater Phoenix area is 10th largest metro area in the United States (4,652,000 people).
Two major airports serve Greater Phoenix. Phoenix Sky Harbor International Airport is the main one and is considered the 10th busiest in the United States. In 2004, Phoenix-Mesa Gateway Airport started commercial passenger flights.
Phoenix is in the northeastern part of the Sonoran Desert at about a mean elevation of 1,117 feet (340 m) and has a subtropical desert climate.
High Demand
For the last decade or so, Greater Phoenix real estate has been in the top 3 metro areas for people wanting to buy for both their primary home, secondary homes, and investment purposes. Since, COVID, the demand for Phoenix, AZ real estate has increased even more.
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Weather
Phoenix is frequently referred to as the Valley of the Sun and for good reason, as you can expect to see the sun, on average, 85% throughout the year. 8-9 months out of the year the weather in Phoenix is glorious and is one big reason people move here. Winter months are warm, with daily high temperatures ranging from the mid-50s to high 70s and low temperatures mostly in the low 40s, occasionally dipping below 40. On average, Phoenix has only five days per year where the temperature drops to or below freezing. The summer high average temperatures are typically over 100 °F (38 °C).
Economy
Eight Fortune 500 firms are currently headquartered here: Freeport-McMoRan, Avnet, Carvana, Republic Services, Insight Enterprises, Opendoor Technologies, Taylor Morrison Homes, and ON Semiconductor.
Phoenix has plenty of high-tech and telecommunications companies like Intel, GoDaddy, LifeLock, Gainsight, Microchip, Keap, Honeywell’s Aerospace division, and countless more.
Phoenix also benefits from tourism and recreation because of its weather and proximity to places like the Grand Canyon. Several golf events occur throughout the Phoenix Metro area, including the PGA’s Waste Management Phoenix Open.
Culture
Some of the best museums, theatres, and art galleries in the Southwest are located here.
Things To Do
Enjoy the outdoors year round! There is great hiking, mountain biking, and horseback riding on the many different mountain ranges throughout Greater Phoenix.
Phoenix is one the world’s golf capital and has many interesting, challenging, and unique courses.
Need to cool off? Phoenix has plenty of water parks or go tubing on the Salt River.
Phoenix also has plenty of public parks to relax with the family, have a picnic, swim in the pool, tennis, pickleball, or volleyball.
Within a 2-6 hour car drive lies the Grand Canyon, Sedona, Tucson, San Diego, Las Vegas, Palm Springs, Los Angeles, or even Mexico.
Topography
Generally speaking, the Greater Phoenix is flat, but mountain ranges are in and around the valley. If you’re looking for mountain views and foothills to break up the flatness, I would look at areas such as Ahwatukee (south), Biltmore Area (central), Arcadia Area (central), North Scottsdale (north), and Gold Canyon (east).
Want Help to Buy or Sell from an Expert?
If you’re looking for an experienced Greater Phoenix real estate agent, then you found one here! Brian is ranked in the top 3% in AZ. Whether you are looing for a single family home, a condo, or land, he is your guy!
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Greater Phoenix Market Report
Current as of 3.17.2025 | Listings | Avg Price | Price per Sqft | Days on Market | Low Price | High Price | order_column |
---|---|---|---|---|---|---|---|
Active | 16,701 | 929,955 | 322 | 78 | 1 | 30,000,000 | 1 |
Under Contract | 7,201 | 721,181 | 298 | 69 | 125,000 | 42,500,000 | 2 |
Coming Soon | 768 | 954,826 | 339 | 0 | 120,000 | 50,000,000 | 3 |
Sold as of 3.17.2025 | Listings | Avg Price | YoY | Price per Sqft | Days on Market | Sold Price to List Price | Sold Price to Orig List Price | Low Price | High Price |
---|---|---|---|---|---|---|---|---|---|
Last 3 mos | 12,336 | 684,060 | 0.0 | 293 | 63 | 98 | 96 | 35,000 | 21,000,000 |
Last 6 mos | 25,343 | 662,584 | 0.0 | 287 | 59 | 98 | 96 | 35,000 | 21,000,000 |
Last 12 mos | 54,615 | 655,687 | 0.0 | 285 | 55 | 98 | 96 | 20,000 | 32,388,888 |
2025 | 10,247 | 699,976 | 8.8 | 296 | 63 | 98 | 96 | 35,000 | 21,000,000 |
2024 | 54,460 | 643,160 | 5.1 | 283 | 54 | 98 | 96 | 20,000 | 32,388,888 |
2023 | 54,406 | 611,924 | -1.4 | 272 | 56 | 98 | 96 | 25,000 | 23,500,000 |
2022 | 64,690 | 620,397 | 13.7 | 290 | 30 | 100 | 98 | 24,900 | 28,100,000 |
2021 | 83,942 | 545,662 | 28.1 | 247 | 21 | 102 | 101 | 15,000 | 21,500,000 |
An In-Depth Look at Greater Phoenix Houses
In-depth analysis of the Greater Phoenix single-family home market reveals a dynamic landscape marked by notable shifts in key metrics. Currently, the number of active listings has escalated to 22,942 over the past month, which represents a significant rise from 17,184 listings three months ago. This increase in inventory may appear to provide more options for potential buyers. However, with the average price per square foot climbing to $322 from $311 three months prior, sellers may find themselves in a more competitive environment.
The average days on market (DOM) has notably declined to 78 days, reflecting a resilience in buyer demand. Just three months ago, properties were on the market for an average of 102 days. This decrease in DOM indicates that homes are selling faster, a sign that buyers may be becoming more decisive, perhaps due to favorable interest rates or improved economic indicators.
Despite the increasing activity in listings, the current months of inventory calculations show 5.6 months, indicating a balance between supply and demand. This figure is higher than the 4.1 months of inventory seen three months ago, reinforcing the notion that the market is stabilizing after previous fluctuations. Comparatively, 6 months ago, there were 14,896 active listings, showcasing a clear upward trend in available homes.
Additionally, sold prices for homes in the last 30 days averaged $704,221, reflecting an increase compared to $672,630 three months ago. Buyers, however, are facing the need for adjustments as the sold price is corresponding closely to the average original listing price, indicating that homes are selling at about 96% of their asking price, suggesting sellers need to be realistic in their pricing strategies.
This blend of increasing inventory and quicker sales points to a market that is finely tuned, where both buyers seeking options and sellers needing to price wisely must navigate carefully. The interplay of these metrics emphasizes the importance of strategic decision-making in both buying and selling within this evolving marketplace.
Current as of 3.17.2025 | Listings | Avg Price | Price per Sqft | Days on Market | Low Price | High Price | order_column |
---|---|---|---|---|---|---|---|
Active | 3,855 | 506,465 | 340 | 84 | 1 | 12,900,000 | 1 |
Under Contract | 1,293 | 668,732 | 375 | 76 | 69,000 | 8,350,000 | 2 |
Coming Soon | 127 | 549,675 | 369 | 0 | 175,000 | 4,480,000 | 3 |
Sold as of 3.17.2025 | Listings | Avg Price | YoY | Price per Sqft | Days on Market | Sold Price to List Price | Sold Price to Orig List Price | Low Price | High Price |
---|---|---|---|---|---|---|---|---|---|
Last 3 mos | 2,239 | 486,713 | 0.0 | 324 | 65 | 97 | 95 | 61,000 | 5,467,543 |
Last 6 mos | 4,377 | 445,635 | 0.0 | 328 | 61 | 97 | 95 | 55,000 | 5,467,543 |
Last 12 mos | 9,605 | 427,121 | 0.0 | 335 | 56 | 97 | 95 | 39,000 | 5,467,543 |
2025 | 1,907 | 492,688 | 18.6 | 327 | 67 | 98 | 95 | 61,000 | 5,467,543 |
2024 | 9,566 | 415,489 | 2.5 | 350 | 53 | 98 | 96 | 39,000 | 4,500,000 |
2023 | 10,291 | 405,205 | 1.3 | 297 | 49 | 98 | 96 | 35,000 | 5,500,000 |
2022 | 12,782 | 399,864 | 18.8 | 323 | 26 | 100 | 99 | 40,000 | 6,000,000 |
2021 | 17,568 | 336,627 | 23.1 | 252 | 23 | 101 | 100 | 37,000 | 4,200,000 |
An In-Depth Look at Greater Phoenix Condos
The condo/townhome sector in Greater Phoenix, as of March 17, 2025, manifests a complex interplay of supply and demand metrics that impact market dynamics.
Over the past month, the inventory level has surged to 4,958 active listings, representing a noteworthy increase from 3,579 three months ago. This growing competition among listings provides buyers with a wider selection and negotiable opportunities. In addition, the current months of inventory is recorded at 6.6, leading towards a traditionally balanced market where neither buyers nor sellers hold overwhelming leverage.
On the other hand, the average DOM for active listings has extended to 84 days, compared to 108 days three months ago, reflecting a slight decrease in sales pace over this period. While this might suggest that listings are taking longer to sell, it's worth noting that this is a more common trend in fluctuating markets, where the higher number of active listings dilutes the urgency from buyers.
The average sold price for properties has risen to $460,047, up from $425,278, illustrating a rise in prices driven by sustained demand amidst growing inventory. This increase in sold prices indicates that buyers are still willing to pay a premium for desirable properties, despite the increased number of options available. Importantly, the sold price to original list price ratio is at 94%, implying that while homes are often selling below asking price, closing deals remain relatively strong.
Further analysis of what this means for prospective buyers indicates potential opportunities to negotiate effectively, particularly as more homes are listed and DOM increases. Sellers, on the other hand, need to be aware of this trend and potentially adjust pricing strategies to stay competitive in the dynamic market landscape.
As a result, whether you're considering buying or selling, understanding these shifting dynamics will be crucial to navigating the current Greater Phoenix condo/townhome market effectively.
Current as of 3.17.2025 | Listings | Avg Price | Price per Acre | Price per Sqft | Days on Market | Low Price | High Price | order_column |
---|---|---|---|---|---|---|---|---|
Active | 3,571 | 622,872 | 356,283 | 8 | 286 | 1 | 82,373,800 | 1 |
Under Contract | 385 | 723,546 | 455,487 | 10 | 262 | 1 | 16,000,000 | 2 |
Coming Soon | 6 | 888,000 | 786,007 | 18 | 0 | 59,000 | 3,250,000 | 3 |
Sold as of 3.17.2025 | Listings | Average Price | YoY | Price per Sqft | Price per Acre | Days on Market | Sold Price to List Price | Sold Price to Orig List Price | Low Price | High Price |
---|---|---|---|---|---|---|---|---|---|---|
Last 3 mos | 719 | 327,902.7 | 0.0 | 7 | 348,328 | 176 | 91 | 87 | 4,000 | 13,972,582 |
Last 6 mos | 1,370 | 320,250.2 | 0.0 | 8 | 349,651 | 164 | 91 | 87 | 3,500 | 13,972,582 |
Last 12 mos | 3,093 | 299,871.5 | 0.0 | 7 | 337,542 | 154 | 91 | 87 | 1 | 42,000,000 |
2025 | 593 | 321,919.0 | 5.9 | 8 | 350,263 | 191 | 91 | 87 | 4,000 | 7,900,000 |
2024 | 3,242 | 283,572.0 | 14.8 | 8 | 330,745 | 145 | 92 | 88 | 1 | 42,000,000 |
2023 | 3,388 | 245,242.0 | -5.2 | 7 | 288,005 | 137 | 90 | 85 | 100 | 11,860,582 |
2022 | 4,535 | 236,864.0 | 24.4 | 7 | 303,712 | 112 | 93 | 91 | 1,265 | 33,957,000 |
2021 | 6,441 | 223,794.0 | 9.1 | 6 | 244,134 | 158 | 94 | 92 | 1 | 20,000,000 |
An In-Depth Look at Greater Phoenix Land
Examining more in-depth trends, the land market in Greater Phoenix reflects both upward pressure on inventory levels and consistent pricing patterns, which may suggest changes in buyer behavior and market balance.
- The months of inventory currently sits at 16.3, an increase from 17.2 months three months ago and notably higher than 12.0 months six months ago. This extended availability indicates that the market is experiencing slower transactions, which follows the historical norms of buyer saturation during the fall months.
- Additionally, the average Days on Market (DOM) for active listings has extended to 286 days, up from 317 days three months prior. This extension signals that homes are remaining on the market for longer periods, giving buyers leverage in their negotiations.
- Highlighting the price activity, the average sold price across the last 30 days was $318,610, indicating a slight uptick compared to $295,558 six months ago. This price stability alongside rising inventory suggests that while buyers are facing more options, they are also observing modest increases in what they are willing to pay for land.
- The average price per square foot remains consistent at $8 for active listings and reflects a steady market sentiment in this segment.
- Buyer strategies may need recalibration; with consistent prices and increasing inventory, negotiating on price points becomes more viable, whereas sellers might want to consider pricing competitively to attract buyers in a more prolonged market trend. Understanding these dynamics will be key in navigating the current land investment landscape in the Greater Phoenix area.
Current as of 3.17.2025 | Listings | Avg Price | Price per Unit | Price per Sqft | Rent per Unit | Days on Market | Low Price | High Price | order_column |
---|---|---|---|---|---|---|---|---|---|
Active | 283 | 1,349,103 | 251,247 | 322 | 1,217 | 118 | 140,000 | 21,570,000 | 1 |
Under Contract | 60 | 798,376 | 235,406 | 258 | 1,103 | 78 | 100,000 | 3,100,000 | 2 |
Coming Soon | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3 |
Sold as of 3.17.2025 | Listings | Avg Price | YoY | Price per Unit | Price per Sqft | Price per Unit | Rent per Unit | Sold Price to Orig List Price | Days on Market | Low Price | High Price |
---|---|---|---|---|---|---|---|---|---|---|---|
Last 3 mos | 103 | 701,229 | 0.0 | 217,685 | 290 | 1,320 | 95 | 92 | 72 | 160,000 | 2,750,000 |
Last 6 mos | 226 | 683,266 | 0.0 | 212,323 | 281 | 1,140 | 96 | 93 | 60 | 160,000 | 2,750,000 |
Last 12 mos | 422 | 709,774 | 0.0 | 207,392 | 276 | 1,135 | 95 | 92 | 61 | 55,000 | 5,250,000 |
2025 | 86 | 690,443 | -0.4 | 207,965 | 287 | 1,257 | 96 | 93 | 65 | 160,000 | 2,750,000 |
2024 | 397 | 749,850 | -1.1 | 208,700 | 277 | 1,104 | 96 | 93 | 64 | 55,000 | 5,600,000 |
2023 | 344 | 790,987 | -2.3 | 211,016 | 289 | 1,066 | 95 | 93 | 58 | 50,000 | 8,670,000 |
2022 | 552 | 812,251 | 30.3 | 215,919 | 907 | 986 | 97 | 95 | 37 | 100 | 9,250,000 |
2021 | 759 | 669,655 | 29.0 | 165,766 | 371 | 821 | 99 | 98 | 39 | 75,000 | 8,400,000 |
An In-Depth Look at Greater Phoenix Multifamily Dwellings
The current landscape of the multifamily market in Greater Phoenix gives us a blend of opportunities and challenges. Over the past month, the number of active listings has climbed to 336, up from 243 three months ago. This increase is pivotal as it reflects a more saturated market, subsequently leading to prospective buyers having more options to choose from than just a few months back.
The average DOM for active listings is currently 118 days, which indicates a marginal decline from prior months. However, this figure needs to be contextualized against a backdrop of increasing inventories. Such a trend suggests that while properties are becoming available, the time taken for listings to sell isn't decreasing significantly, hinting at potential buyer hesitance or adjustments in pricing strategies.
In regard to sold prices, there’s been a notable uptick to an average of $652,454, which is a slight increase from $636,333 just three months ago. This upward momentum in prices could point to rejuvenated buyer confidence amid rising inventory, emphasizing that successful sales still reflect robust demand in certain neighborhoods.
Interestingly, the months of inventory figure is currently at 9.8, indicating an extended market presence where listings sit available for a longer period. This metric marks a significant rise in supply compared to 6.9 months of inventory observed three months ago, showcasing a shift towards conditions favorable to buyers. Such outsized inventory highlights an opportunity for buyers to negotiate on price given that inventory is flowulating.
The interplay between these trends forms a complex picture. The increase in inventory alongside adequate demand maintains a balanced market, yet sellers may need to recalibrate expectations to meet evolving buyer criteria. The market's dynamics suggest that even with rising prices, buyer adaptability to inventory choice could drive negotiation strength. Moving forward, buyers may want to consider targeting properties with longer DOMs, as these could present further negotiating advantages. Conversely, sellers may benefit from evaluating their pricing strategies to adapt to an increasingly competitive environment bolstered by new listings.

Brian Adamski, Realtor
17+ Years of Experience
Honesty. Trustworthy. Integrity.
480-405-1265

Brian Adamski, Realtor
17+ Years of Experience
Honesty. Trustworthy. Integrity.
480-405-1265
