City of Phoenix Real Estate Market Overview
Phoenix Market Highlights
As of May 6, 2025, the residential real estate market in Phoenix shows signs of evolving dynamics that both buyers and sellers must navigate.
- The number of active listings has expanded to 6,239 over the past month, a substantial jump from 4,981 three months ago.
- Simultaneously, average sold prices have decreased to $547,950, indicating a downward trend from $578,368 just three months ago.
- Buyers are facing a more competitive environment with increased inventory levels, yet price adjustments suggest opportunities may be forthcoming.
Curious how the Phoenix market has changed over time?
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The current market landscape in Phoenix highlights a significant transition as inventory increases and sold prices recalibrate.
- Active Listings: The count of active listings surged to 6,239 over the past month, up from 4,981 three months ago. This influx of inventory points to heightened supply and better selection for prospective buyers, an essential factor in the current market.
- Average Sold Prices: There has been a notable decline in average sold prices, which currently sit at $547,950, down from $578,368 three months prior. This drop suggests that while inventory expands, competitive pricing may pressure sellers to accept lower offers.
- Days on Market (DOM): Over the past month, the average DOM for sold listings has decreased to 59 days, a swift pace compared to 61 days three months ago, signifying a quicker turnover in sales despite a growing inventory.
- Months of Inventory: The market stands at 5.0 months of inventory, a slight decrease from 5.1 months three months ago, indicating a relatively stable market balance. While inventory has risen, the sales pace has also picked up, maintaining a reasonably even market for buyers and sellers.
- Pending and Active Price Relationships: The average pending price of $614,062 stands higher than the average current price of active listings, suggesting that while buyers are negotiating downwards, those properties under contract are successfully securing higher offers.
In this slightly tumultuous yet promising environment, potential buyers are encouraged to take advantage of expanding inventory while maintaining vigilance on rapid price adjustments. Sellers may need to consider pricing strategies thoughtfully to align with current buyer expectations. As such, adaptability in negotiations will be key in maximizing transaction outcomes for both sides.
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Did You Know?
Phoenix is the capital of Arizona and is located within Maricopa county. The City of Phoenix is the 5th largest in the United States (1.7 million people). Geographically larger than Los Angeles, the city spans more than 500 square miles.
Everybody’s Moving to Phoenix!
Ok, maybe not everybody, but according to recent reports and data, the demand for Phoenix real estate has been on the rise in recent years.
Several factors contribute to the increasing demand, including a growing population, favorable economic conditions, and affordable housing prices compared to other major metropolitan areas.
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Additionally, the COVID-19 pandemic has caused a shift in housing demand, with many people moving away from densely populated urban areas to suburban and more affordable areas like Phoenix. This trend has further fueled the demand for real estate in the region.
Not Just Some Western Town
If you want to learn more about the history, artifacts, and art of the people of the Southwest (Native American and Hispanic cultures), then the Heard Museum is for you.
The Phoenix Art Museum has more modern art as well as hosting both international and national exhibits.
Don’t miss the Dorrance Planetarium at the Science Center.
The Phoenix Zoo is one of America’s most successful, privately-owned, and nonprofit zoos. It was voted one of the top five zoos for kids. And sitting right next to the Phoenix Zoo is the magnificent Desert Botanical Garden.
North Phoenix is host to the Musical Instrument Museum (MIM), which displays modern and historical instruments from around the world and collectibles from musical superstars such as John Lennon. There is also a theatre there to enjoy a concert from world-renowned groups and individuals. The Experience area allows you to play instruments from around the world.
There is the Phoenix Symphony and Ballet Arizona which are sure to please even the most refined palates.
Catch the Phoenix Diamondbacks play baseball, the Phoenix Coyotes play hockey, the Phoenix Cardinals play football, or the Phoenix Suns play basketball.
Navigating the Phoenix Real Estate Market
The City of Phoenix is home to a wide variety of houses. There are high-rise buildings in downtown Phoenix, historic districts, older, well-established neighborhoods, newer homes inserted into existing neighborhoods through infill projects, stunning neighborhoods of luxury homes that range in age from older to newer, and traditional tract home neighborhoods in the suburbs. Everyone can find something.
The Phoenix real estate market is vast and it takes a veteran Phoenix Realtor to help you. Brian knows Phoenix well and that is reflected in the fact that he is ranked in the top 3% in Arizona.
Brian Adamski, Realtor
Guiding You Home in Phoenix | Turning Uncertainty into Peace of Mind
480-405-1265
