Greater Phoenix Real Estate

Greater Phoenix All Property Types Market Highlights

As of Jul 8, 2025, the residential real estate market in the Metro Phoenix Area is experiencing notable shifts.

• The number of active listings has increased significantly, now at 29,245, compared to 25,616 just three months ago.
• This rise in inventory has contributed to a modest upward trend in days on market, which currently averages 115 days.
• In contrast, sold prices have seen a slight decline, averaging $579,646, representing a lower figure compared to recent months.
• Overall, these dynamics indicate a changing market environment with increasing options for potential buyers.

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

In the Metro Phoenix Area, the current housing landscape illustrates both opportunities and challenges for buyers and sellers. The surge in active listings to 29,245—up from 25,616 three months ago—reflects a robust supply of homes for sale. This increase aligns with the current average days on market (DOM) rising to 115 days, suggesting that homes are taking a bit longer to sell compared to the quicker sales seen in prior months.

Comparatively, looking back six months, the market demonstrates a significant transformation. For instance, the number of active listings was just 18,641 in January, indicating a substantial growth of 57% in the last half year. This influx may stem from seasonal factors, increased new listings, and fewer homes entering pending status as buyers remain cautious due to fluctuating economic conditions.

Moreover, the average sold price has slipped to $579,646, down from $587,286 three months ago and showing a contrasting picture compared to $626,265 six months ago. Such pricing adjustments could also reflect the increased negotiating power of buyers, facilitated by the greater selection of available homes.

Interestingly, while inventory levels are rising, this encompasses diverse scenarios for different property segments. The months of inventory now stand at 4.4, indicating a balanced market state that could cater favorably to informed buyers. It’s essential to recognize that the current market favors a more patient buyer, armed with comparative data, as listings may not fetch the asking price as aggressively as before.

This environment encourages strategic planning for both buyers and sellers. For sellers, it may be wise to price competitively, taking into account the longer DOM and recent price trends. Buyers, on the other hand, should capitalize on the increased inventory and explore options with negotiation leverage, particularly those listings that have lingered on the market longer and may be more amenable to price adjustments.

In conclusion, the trends observed in the Metro Phoenix residential real estate market underscore a period of transition where increased inventory, extended DOM, and slight decreases in sold prices can serve as advantageous opportunities for well-prepared buyers and sellers alike.