Greater Phoenix Homes Market Overview
Greater Phoenix Homes Market Highlights
As of May 16, 2025, the single-family home market in Greater Phoenix reveals significant shifts affecting both buyers and sellers alike.
- Active listings have seen a notable increase, reaching 24,388 over the past month, up from 19,862 three months ago.
- The average sold price, however, has slightly decreased to $655,254, indicating a potential buyer's market developing.
- Days on Market (DOM) has also risen to an average of 78 days, showing that homes are taking longer to sell, which may lead to more negotiating opportunities for buyers.
Curious how the Greater Phoenix Homes market has changed over time?
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Greater Phoenix Homes Market Report
An In-Depth Look at the Greater Phoenix Homes Market
The single-family home market in Greater Phoenix, as of May 16, 2025, reveals a developing landscape characterized by increased inventory and moderated pricing trends. The number of active listings has climbed significantly, with 24,388 properties available compared to 19,862 just three months ago. This burgeoning inventory reflects a market response to increased demand, suggesting a shift where sellers might need to adjust their pricing strategies to attract buyers.
Despite the surge in active listings, the average sold price for homes has tempered, currently at $655,254, down from $674,538 three months ago. This 2.3% decline in sold prices signals that buyers may exert more influence in negotiations, as sellers accommodate the evolving dynamics.
Moreover, the average DOM has experienced a rise to 78 days, an increase from 105 days just a few months back. This extended time on the market can contribute to perceived buyer advantage, as it often allows for price discussions and potential concessions.
Additionally, the months of inventory metric is currently at 4.6 months, which indicates a technically balanced market. Historically, at levels above four months, the marketplace tends to favor buyers, thus suggesting that those looking to purchase may find better opportunities as homes linger longer on the market.
In terms of market durability, the current price per square foot for active listings stands at $334, while recent sold properties average at $286 per square foot, showcasing a disparity that buyers can leverage.
Given these trends, sellers in the Greater Phoenix area should consider strategic pricing adjustments and readiness for longer sale processes, whereas buyers might benefit from the current conditions by negotiating better terms in their purchases. The evolution of these metrics indicates potential shifts ahead, making it crucial for both parties to stay informed about the continuous changes within the market.
Brian Adamski, Realtor
Consistently Ranked Among Arizona’s Best | Guaranteed, Professional Real Estate Guidance
480-405-1265
