Greater Phoenix Real Estate Market Overview
Greater Phoenix Market Highlights
As of May 20, 2025, the real estate market in Greater Phoenix continues to showcase a landscape of change, driven by a variety of factors affecting supply and demand dynamics.
- Over the past month, active listings have risen significantly, expanding to 35,539 from 28,394 just three months ago.
- The average sold price has shown resilience, currently sitting at $591,078—a slight decrease from $620,475 three months prior.
- Additionally, the average Days on Market (DOM) for sold listings has seen improvement, dropping to 62 days compared to 71 days three months ago.
- Overall, these metrics illustrate a developing market as buyers and sellers navigate an evolving landscape.
Curious how the Greater Phoenix market has changed over time?
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Continuing to investigate the Greater Phoenix real estate market reveals both patterns and fluctuations that are essential for current and potential homebuyers and sellers. As the number of active listings has risen markedly to 35,539 over the past month, this reflects an increase from 28,394 three months ago. This surge often implies enhanced inventory options for buyers, which can lead to a more balanced market. Additionally, with the rising supply, the months of inventory currently stands at 5.1 months, indicating that properties are taking a sufficient amount of time to sell, though still demonstrating moderate market conditions.
Despite the increased inventory, the average sold price has decreased slightly to $591,078 compared to the $620,475 reported three months ago. This decline may suggest that home sellers are adapting to market conditions, possibly adjusting prices to attract buyers amidst growing competition. Furthermore, the Days on Market (DOM) for sold properties has improved, dropping down to 62 days from 71 days in the preceding period, evidencing a quicker turnover even as inventory rises.
For buyers, these dynamics offer an opportunity to negotiate more favorable terms given the increased competition among listings. Implementing strategies such as targeting homes that have been active longer could yield advantageous results. On the flip side, sellers may want to consider pricing strategies that reflect the current market trends, especially with downward adjustments in sold prices. Remaining competitive while ensuring properties are adequately marketed can play a crucial role in securing sales despite the shifting landscape.
In summary, as Greater Phoenix’s real estate environment evolves, both buyers and sellers can better navigate their choices with an understanding of the implications attached to each key metric—active listings, sold prices, and DOM. By leveraging this data, participants in the market can make informed decisions that align with their goals.
Info About Greater Phoenix
Homes for Sale in 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.
Greater Phoenix Real Estate
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.
Greater Phoenix Golf Course Homes
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!
Brian Adamski, Realtor
Deep Knowledge of Greater Phoenix | Built on Relationships, Not Just Transactions
480-405-1265
