Greater Phoenix Land Market Overview
Greater Phoenix Land Market Highlights
As of May 5, 2025, the land market in Greater Phoenix is witnessing significant shifts that are altering market conditions for buyers and sellers alike.
- Over the past month, active listings have climbed to 3,868, which is a notable increase compared to 3,375 three months ago, reflecting a trend towards greater inventory availability.
- Currently, the average price per square foot for active listings stands at $8, a slight rise from previous months.
- Meanwhile, the average days on market (DOM) for these active listings is currently at 282 days, suggesting a slower sales pace.
- The months of inventory average 15.1, implying a continuing balance in market conditions.
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Greater Phoenix Land Market Report
An In-Depth Look at the Greater Phoenix Land Market
The land market in Greater Phoenix, as of May 5, 2025, offers a nuanced glimpse into ongoing trends that both buyers and sellers need to consider.
Currently, the increase in active listings to 3,868 over the past month denotes not just a rise in available options, but potentially suggests that more sellers are entering the marketplace, perhaps influenced by broader economic pressures or personal circumstances. This marks a significant uptick from 3,375 active listings three months ago, further emphasizing the evolving dynamics of supply.
Price developments are also apparent as the average price per square foot for active listings has edged up to $8 from $7 six months ago. This may imply either a stabilization of values in a market with higher demand or a cautious adjustment in pricing by sellers responding to the current listings environment.
Notably, the average Days on Market (DOM) for active listings, recorded at 282 days, reflects a fairly sluggish pace, indicative perhaps of buyer hesitation or an adjustment period for both listings and prospective buyers. This increased DOM suggests that properties are lingering longer on the market, contributing to the rising inventory.
The months of inventory at 15.1 suggests that, while there is substantial inventory, it is more aligned with a balanced market than a highly competitive one. Typically, months of inventory above 6 indicate a buyer's market, while those below 4 suggest seller dominance; thus, Greater Phoenix currently sits in a relatively stable position.
Overall, the data paints a picture of a market currently favoring neither buyers nor sellers decisively; instead, it reflects a phase of adjustment where both parties might need to recalibrate their expectations and strategies. Buyers may find opportunities with more options to choose from, while sellers must be prepared for potentially longer sales timelines, leading to a need for attractive pricing strategies. As these trends continue to unfold, staying informed will be essential for navigating the market successfully.
Brian Adamski, Realtor
Long-Time Greater Phoenix Specialist | Trusted Real Estate Consultant
480-405-1265
