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Greater Phoenix Multifamily

Brian Adamski, Realtor Long-Time Greater Phoenix Specialist | Committed to Your Success

Greater Phoenix Multifamily Market Overview

Greater Phoenix Multifamily Market Highlights

As of May 16, 2025, the multifamily market in Greater Phoenix shows signs of adjustment as various metrics fluctuate.

  • Over the past month, the number of active listings has increased significantly, rising to 335 from 253 three months ago.
  • However, the average sold price has decreased slightly to $731,886, down from $763,205.
  • Days on market (DOM) have lengthened to 115 days, indicating that properties are taking longer to sell.
  • Months of inventory currently stands at 7.7, suggesting a bit of a shift toward a more balanced market.
Greater Phoenix Multifamily – Market Snapshot – 5.16.2025
Greater Phoenix Multifamily – Active Listings Trend – 5.16.2025

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Greater Phoenix Multifamily Market Report

Greater Phoenix Multifamily – Inventory Snapshot – 5.16.2025
Greater Phoenix Multifamily – Sold Market Report – 5.16.2025

An In-Depth Look at the Greater Phoenix Multifamily Market

In greater detail, the multifamily market in Greater Phoenix has seen notable shifts in key metrics that reveal insights into current buyer and seller dynamics. The number of active listings has expanded over the past month, reaching 335, which represents a rise from 253 listings three months ago. This uptick suggests an increase in available choices for potential buyers, potentially slowing the pace of sales.

Interestingly, though the average sold price has declined slightly to $731,886 from $763,205 three months prior, it's still above the average price of $680,546 noted six months ago. This modest decrease in sold prices indicates a potential adjustment as more inventory enters the market, allowing buyers a greater range of options and, perhaps, driving negotiations down a bit.

The DOM has increased to 115 days, up from 72 days last quarter. This escalation highlights a trend toward longer selling periods, which may reflect buyer hesitance or a saturated market, with inventory levels rising more than the immediate demand for multifamily units. Such a shift typically leans toward a balanced market rather than one heavily favored by either buyers or sellers.

Months of inventory, currently at 7.7, indicates that it would take about 7.7 months to sell through the existing listings at the current sales pace. This level is on the higher end and indicates that, while the market is not excessively stocked, it exhibits more balance compared with tighter inventory conditions previously experienced in the region.

In summary, these evolving metrics suggest a multifamily market in Greater Phoenix that is moving toward balance, where buyers may enjoy more negotiating power, and sellers might need to adjust their expectations regarding pricing and readiness to engage with interested buyers.

Brian Adamski, Realtor

Long-Time Greater Phoenix Specialist | Committed to Your Success

Brian Adamski, Realtor
480-405-1265

Brian's thoroughness and attention to detail are without equal. He was on top of everything and took the time to explain every step of the process carefully.
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We chose Brian because of his incredible knowledge of the area and current market trends.
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