Greater Phoenix
Real Estate
Brian Adamski, Realtor
17+ Years of Experience
Honesty. Trustworthy. Integrity.
Greater Phoenix Market Overview
Highlights
As of March 18, 2025, the single-family home market in the Greater Phoenix area showcases some noteworthy trends.
- Over the past month, active listings have increased to 22,870, reflecting a significant supply of homes for buyers.
- The average sold price is currently $707,937, marking a favorable trend for buyers compared to previous months.
- Days on Market (DOM) has risen to 79 days, indicating a modest slowing in home sales.
- Months of inventory stands at 5.6, suggesting that the market remains balanced, but slightly tilted toward buyers, allowing for negotiation opportunities.
Market Snapshot as of 3.18.2025 | Inventory and Pricing |
---|---|
Active Listings: | 16,644 |
Avg Price: | $929,548 |
Avg Days on Market: | 79 |
Avg Price per Sqft: | $321 |
Months of Inventory: | 5.6 |
Sold Listings (last mo): | 5,016 |
Avg Price: | $707,937 |
Avg Days on Market: | 62 |
Avg Price per Sqft: | $297 |
Sold Listings (last 3 mos): | 12,331 |
Avg Price: | $685,204 |
Avg Days on Market: | 63 |
Avg Price per Sqft: | $293 |
Highlights
As of March 18, 2025, the condo/townhome market in Greater Phoenix reveals a mix of evolving dynamics and ongoing challenges.
- Recently, the number of active listings has expanded to 4,937, up from 3,579 three months ago, indicating a significant increase in available properties.
- Despite this increase in inventory, months of inventory remain steady at 6.6, suggesting a balanced market where supply and demand are relatively even.
- Average sold prices have risen to $459,288 over the past 30 days, compared to an average of $425,278 three months prior, highlighting a growing trend in pricing.
- Days on Market (DOM) for sold listings averages 69 days, indicating a slightly slower pace at which properties are moving compared to previous periods.
Market Snapshot as of 3.18.2025 | Inventory and Pricing |
---|---|
Active Listings: | 3,846 |
Avg Price: | $505,196 |
Avg Days on Market: | 84 |
Avg Price per Sqft: | $340 |
Months of Inventory: | 6.6 |
Sold Listings (last mo): | 868 |
Avg Price: | $459,288 |
Avg Days on Market: | 69 |
Avg Price per Sqft: | $316 |
Sold Listings (last 3 mos): | 2,239 |
Avg Price: | $488,338 |
Avg Days on Market: | 66 |
Avg Price per Sqft: | $325 |
Highlights
As of March 18, 2025, the land market in Greater Phoenix has exhibited notable fluctuations in various metrics.
- The number of active listings has increased to 3,908 over the past month, which represents a sharp rise from 2,972 six months ago.
- Meanwhile, the average sold price has climbed to $339,170, demonstrating a higher selling price compared to 12 months ago when it was $252,119.
- Days on Market (DOM) currently stands at 285 days, reflecting an elongated selling period relative to the 165 days recorded six months prior.
- Similarly, months of inventory has expanded to 16.1 months, a significant increase signaling a shift in market dynamics.
Market Snapshot as of 3.18.2025 | Inventory and Pricing |
---|---|
Active Listings: | 3,584 |
Avg Price: | $622,499 |
Avg Days on Market: | 285 |
Avg Price per Sqft: | $8 |
Months of Inventory: | 16.1 |
Sold Listings (last mo): | 265 |
Avg Price: | $339,170 |
Avg Days on Market: | 188 |
Avg Price per Sqft: | $9 |
Sold Listings (last 3 mos): | 726 |
Avg Price: | $333,642 |
Avg Days on Market: | 179 |
Avg Price per Sqft: | $8 |
Highlights
As of March 18, 2025, the multifamily market in Greater Phoenix reflects distinct trends that highlight shifts in both buyer and seller dynamics.
- Over the past month, the number of active listings has risen significantly to 339, showcasing a growing inventory.
- Meanwhile, the average days on market have increased to 118 days, indicating properties are taking longer to sell.
- The average sold price stands at $649,317 over the past 30 days, showing a stable market despite the rising inventory levels.
- Additionally, months of inventory have reached 9.8, suggesting a shift towards a more balanced market with both buyers and sellers having opportunities.
Market Snapshot as of 3.18.2025 | Inventory and Pricing |
---|---|
Active Listings: | 279 |
Avg Price: | $1,327,930 |
Avg Days on Market: | 118 |
Avg Price per Sqft: | $321 |
Months of Inventory: | 9.8 |
Sold Listings (last mo): | 47 |
Avg Price: | $649,317 |
Avg Days on Market: | 65 |
Avg Price per Sqft: | $252 |
Sold Listings (last 3 mos): | 104 |
Avg Price: | $700,184 |
Avg Days on Market: | 71 |
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.
Read More......Read Less
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 3.18.2025 | Listings | Avg Price | Price per Sqft | Days on Market | Low Price | High Price | order_column |
---|---|---|---|---|---|---|---|
Active | 16,644 | 929,548 | 321 | 79 | 1 | 30,000,000 | 1 |
Under Contract | 7,234 | 721,670 | 298 | 69 | 125,000 | 42,500,000 | 2 |
Coming Soon | 803 | 948,130 | 337 | 0 | 230,000 | 50,000,000 | 3 |
Sold as of 3.18.2025 | 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 | 12,331 | 685,204 | 0.0 | 293 | 63 | 98 | 96 | 35,000 | 21,000,000 |
Last 6 mos | 25,347 | 663,150 | 0.0 | 287 | 59 | 98 | 96 | 35,000 | 21,000,000 |
Last 12 mos | 54,789 | 655,650 | 0.0 | 285 | 55 | 98 | 96 | 20,000 | 32,388,888 |
2025 | 10,436 | 700,165 | 8.9 | 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 examination of the Greater Phoenix single-family home market reveals intriguing patterns that have implications for both buyers and sellers. As of March 18, 2025, the number of active listings has surged over the past month to 22,870, a substantial increase from 17,184 just three months ago. This growth in inventory positions the market as relatively balanced, offering buyers an ample selection of homes.
Currently, the average sold price for listings has climbed to $707,937. This is an increase from $672,630 seen three months ago but remains lower than historical highs, suggesting a shift in buyer behavior to more moderate price points. Additionally, the sales price to original list price ratio remains stable at around 96%, indicating that buyers may still be negotiating well without stretching their budget too far.
Days on Market (DOM) has also seen an uptick, now averaging 79 days compared to 102 days three months ago. This rise in DOM typically reflects extended negotiation processes and, potentially, a need for sellers to adjust expectations. However, it's crucial to note that longer DOM could also be correlated with higher price sensitivity among buyers leading to more consideration before making offers.
Furthermore, the months of inventory stands at 5.6, which is an increase compared to 4.1 months three months ago. This metric suggests a healthy market equilibrium where supply and demand are more aligned, decreasing the risk of price escalation. Historically, inventory levels hovering around this range also suggest that we are entering a phase where homes are likely to sell at competitive prices without significant inflationary pressures.
In summary, the Greater Phoenix real estate market is witnessing dynamics that could benefit both buyers and sellers. Sellers may need to remain flexible in their pricing strategies given the extended DOM, while buyers are presented with more options and fairer negotiation conditions. As these trends continue to develop, close monitoring will be essential for making informed real estate decisions.
Current as of 3.18.2025 | Listings | Avg Price | Price per Sqft | Days on Market | Low Price | High Price | order_column |
---|---|---|---|---|---|---|---|
Active | 3,846 | 505,196 | 340 | 84 | 1 | 12,900,000 | 1 |
Under Contract | 1,282 | 674,985 | 378 | 77 | 69,000 | 8,350,000 | 2 |
Coming Soon | 132 | 564,769 | 378 | 0 | 175,000 | 4,480,000 | 3 |
Sold as of 3.18.2025 | 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 | 488,338 | 0.0 | 325 | 65 | 97 | 95 | 60,000 | 5,467,543 |
Last 6 mos | 4,392 | 447,502 | 0.0 | 328 | 62 | 97 | 95 | 55,000 | 5,467,543 |
Last 12 mos | 9,640 | 427,648 | 0.0 | 335 | 56 | 97 | 95 | 39,000 | 5,467,543 |
2025 | 1,949 | 490,700 | 18.1 | 326 | 67 | 98 | 95 | 60,000 | 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 market in Greater Phoenix, as of March 18, 2025, indicates intriguing shifts when analyzed closely. With the number of active listings now at 4,937, this reflects a substantial rise of 37.8% from 3,579 active listings just three months ago. This influx is indicative of more homeowners choosing to sell, or potentially a response to the current price increases over recent months.
Currently, the average sold price of $459,288 represents a solid increase of approximately 8.0% compared to $425,278 three months ago. This uptick in price signals increasing buyer confidence, especially in the face of fluctuating inventory levels. Buyers may be feeling encouraged to invest, as they encounter more available options.
However, the dynamics of the market are tempered by the average Days on Market (DOM) for sold properties, which stands at 69 days. This marks a subtle shift towards longer selling times, suggesting that while buyers are making purchases, they may be taking their time in making decisions, indicative of a market that might have become more saturated.
With months of inventory holding at 6.6, the market remains balanced, suggesting neither a strong buyer nor seller advantage. In a balanced market context, properties take longer to sell, yet the steady average sold price points to a healthy demand.
Looking back further, the year-over-year comparison shows notable changes. One year ago, the number of active listings was lower at 2,685. The market is evolving, and while the increase in listings may appear overwhelming, it reflects a normalizing trend as buyers are still managing to close deals successfully.
In summary, this period reflects a Greater Phoenix market that is expanding but also showing signs of a careful, measured approach from buyers. Those looking to sell should be prepared for the possibility of extending their timelines, while buyers may find more opportunities for negotiation in a market that is adjusting.
Current as of 3.18.2025 | Listings | Avg Price | Price per Acre | Price per Sqft | Days on Market | Low Price | High Price | order_column |
---|---|---|---|---|---|---|---|---|
Active | 3,584 | 622,499 | 358,950 | 8 | 285 | 1 | 82,373,800 | 1 |
Under Contract | 372 | 721,178 | 448,655 | 10 | 267 | 1 | 16,000,000 | 2 |
Coming Soon | 13 | 502,900 | 1,008,344 | 23 | 0 | 22,000 | 3,250,000 | 3 |
Sold as of 3.18.2025 | 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 | 726 | 333,642.0 | 0.0 | 8 | 349,364 | 179 | 91 | 86 | 4,000 | 13,972,582 |
Last 6 mos | 1,376 | 321,962.2 | 0.0 | 8 | 353,784 | 165 | 91 | 87 | 3,500 | 13,972,582 |
Last 12 mos | 3,107 | 300,778.1 | 0.0 | 7 | 338,299 | 155 | 91 | 87 | 1 | 42,000,000 |
2025 | 607 | 331,348.0 | 7.4 | 8 | 355,277 | 194 | 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
In the Greater Phoenix land market, as of March 18, 2025, various metrics display a market transitioning towards increased inventory and a decelerating sales pace. Over the past month, the number of active listings surged to 3,908, significantly higher than 2,972 six months ago. This marks a level of inventory that suggests more choices for buyers, and may indicate a slowing demand or an influx of new land listings.
In terms of sales, the average sold price for land has risen to $339,170. This increase is noteworthy when compared to the average sold price of $252,119 recorded one year ago, illustrating that despite higher inventory levels, buyers are willing to pay more. Additionally, the days on market (DOM) has risen to 285 days, a significant change from the 130 days seen six months ago. An increasing DOM often points to a cooling market, where buyers are taking longer to make purchasing decisions.
Moreover, the months of inventory has seen a substantial increase, now standing at 16.1 months. This level suggests a buyer's market is developing, where supply is outpacing demand, allowing buyers to negotiate better terms and prices. In a balanced market, we typically see months of inventory around 4 to 6 months; however, an inventory level of over 16 months indicates that buyers have much more leverage.
For prospective buyers, the current conditions provide an excellent opportunity to explore options without the intense competition that characterized the market a year ago. Sellers, on the other hand, may need to be cautious with their pricing strategies, as the extended DOM and increasing inventory may lead to longer sales periods and potentially necessitate price adjustments to attract buyers.
In summary, the Greater Phoenix land market is currently characterized by increased inventory and longer selling times, while average sold prices continue to climb, presenting both challenges and opportunities for buyers and sellers alike.
Current as of 3.18.2025 | Listings | Avg Price | Price per Unit | Price per Sqft | Rent per Unit | Days on Market | Low Price | High Price | order_column |
---|---|---|---|---|---|---|---|---|---|
Active | 279 | 1,327,930 | 249,525 | 321 | 1,223 | 118 | 140,000 | 21,570,000 | 1 |
Under Contract | 61 | 799,844 | 236,228 | 259 | 1,064 | 79 | 100,000 | 3,100,000 | 2 |
Coming Soon | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3 |
Sold as of 3.18.2025 | 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 | 104 | 700,183 | 0.0 | 217,184 | 290 | 1,319 | 95 | 92 | 71 | 160,000 | 2,750,000 |
Last 6 mos | 226 | 684,468 | 0.0 | 212,681 | 282 | 1,139 | 96 | 93 | 60 | 160,000 | 2,750,000 |
Last 12 mos | 423 | 708,106 | 0.0 | 207,740 | 275 | 1,133 | 95 | 92 | 60 | 55,000 | 5,250,000 |
2025 | 88 | 688,728 | -0.6 | 207,419 | 287 | 1,254 | 95 | 93 | 63 | 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 multifamily market in Greater Phoenix, as of March 18, 2025, is experiencing a noteworthy transition characterized by an increase in inventory and sales dynamics that may influence both pricing strategies and buyer decisions.
- Currently, the number of active listings has surged to 339 over the past month, a notable rise compared to just 243 active listings three months ago. This increase reflects a growth in choices for potential buyers, contrary to the tighter inventory conditions seen previously.
- Simultaneously, the average Days on Market (DOM) for active listings has climbed to 118 days, compared to 86 days noted three months prior. This increase in DOM indicates a slower pace of sales, implying that buyers are taking their time in making purchasing decisions, possibly due to factors such as interest rates or economic considerations.
- In terms of pricing, the average sold price currently rests at $649,317 over the past 30 days. Comparing this to three months ago, when the average sold price was approximately $636,333, signals a slight enhancement in pricing power for sellers, yet the slower sales timeline suggests that buyers may be more judicious.
- Furthermore, the months of inventory have climbed to 9.8, reflecting a significant increase from 6.9 three months ago. This metric indicates a balanced market—one in which properties take longer to sell, and buyers can potentially negotiate better prices. Historically, a months of inventory figure of around 9.8 indicates neither an outright seller's nor buyer's market, allowing for negotiations in both directions.
- Looking at the broader economic landscape, the local market dynamics may be influenced by broader economic factors, such as local employment rates and economic developments. It’s crucial for both buyers and sellers to consider these elements in their strategies as the market continues to evolve.
In summary, as the multifamily market in Greater Phoenix adapts to these trends, both prospective buyers and sellers are encouraged to stay informed and prepared as strategies for navigating this balanced yet shifting dialogue in real estate.

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
