Greater Phoenix Real Estate

Greater Phoenix All Property Types Market Highlights

As of Jun 21, 2025, the residential real estate market in Greater Phoenix is witnessing notable trends reflecting shifting dynamics.

• Active listings have climbed significantly, now standing at 29,939, a clear rise from 22,952 three months ago.
• Additionally, the average sold prices have declined to $576,091, down from $623,722, indicating a market adjustment.
• As a result, the current months of inventory rest at 5.1, showcasing an increase in available properties.
• This evolving landscape suggests buyers and sellers must now navigate a more competitive environment.

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

The Greater Phoenix residential real estate market, as of Jun 21, 2025, reflects intriguing shifts that are crucial for both buyers and sellers to understand.
The number of active listings has markedly increased to 29,939, a substantial rise from 22,952 just three months prior. This trend suggests that more homeowners are entering the market, possibly driven by changes in market conditions or economic factors motivating sales. Additionally, active listings have risen from a more moderate 15,982 six months ago, highlighting a consistent upward trajectory in available inventory. Meanwhile, the average sold price has fallen to $576,091—a 7.6% decrease from $623,722 three months ago, signaling a shift in buyer pricing power as inventory levels rise.

The current inventory translates to 5.1 months of inventory, up from 3.3 months three months ago, indicative of a balanced market transitioning away from the previous seller-favorable conditions. Reviewing historical data reveals that this months of inventory metric has risen significantly, from only 2.0 months 12 months ago, suggesting more competitive conditions and potentially slower sales as buyers take the opportunity to reassess their options.

Interestingly, the DOM (Days on Market) for active listings stands at 111 days, which has slightly increased from 103 days three months ago. This indicates an elongation in the time it takes properties to move off the market, likely attributable to the rising number of options available for buyers. Furthermore, pending listings currently average an impressive sale price of $654,307, compared to an active price average of $732,113. This disparity between pending and active prices indicates that buyers are negotiating lower for homes in the current environment.

Lastly, evaluating the sold price to original list price percent, which currently sits at 97%, suggests that while sellers are still receiving respectable offers, buyers are managing to negotiate effectively, resulting in lower closing prices relative to listings. As we move forward in this evolving landscape, understanding these trends will be essential for both buyers seeking value and sellers aiming to capitalize on the market before prices potentially dip further.