Greater Phoenix Real Estate Market Overview
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Greater Phoenix Real Estate Market Report
Greater Phoenix All Property Types Market Highlights
As of Jul 19, 2025, the real estate market in Metro Phoenix is experiencing significant fluctuations that impact both buyers and sellers.
- The number of active listings has increased notably, reaching 29,746, compared to 25,616 just three months ago.
- Months of inventory currently sits at 4.4, suggesting a balanced market.
- Meanwhile, the average sold price has decreased slightly to $560,529, down from $582,021 in the previous quarter.
- The days on market for sold listings have shown a modest increase, now averaging 69 days, compared to 63 days in the past.
An In-Depth Look at the Greater Phoenix All Property Types Market
Currently, the Metro Phoenix housing market exhibits a distinct blend of increasing inventory and fluctuating prices. The active listings have swelled significantly from 25,616 three months ago to 29,746 today, indicating a greater selection available to potential buyers. This trend suggests an evolving market where sellers may need to become increasingly competitive in their pricing strategies.
Moreover, the months of inventory is at 4.4 months, illustrating a balanced scenario where supply and demand appear to align more closely. This level of inventory typically favors both parties, as neither buyers nor sellers hold an overwhelming advantage.
The average sold price has decreased slightly to $560,529, down from $582,021 in April. This decrease signals that while homes are still selling, there may be a moderating influence on pricing. As inventory rises, some price softening is not uncommon, especially as buyers gain more choices and negotiating power.
On the operational side, the days on market (DOM) for sold listings has risen to an average of 69 days, a notable increase from 63 days observed three months ago. This shift towards a longer sales period suggests a gradual slowing in the pace of transactions, which may encourage buyers to take their time when considering offers.
In summary, the current market conditions present a unique opportunity for both buyers and sellers. Buyers can navigate a wider selection of homes while being mindful of price negotiations, and sellers should consider strategic pricing and marketing to position their listings effectively amid the rising inventory.
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!