City of Phoenix Real Estate Market Overview
Phoenix Market Highlights
As of May 4, 2025, the real estate market in Phoenix is showing signs of both stability and variability across critical metrics.
- The number of active listings has risen to 6,263, a significant increase from 5,010 three months ago.
- Days on Market (DOM) for active listings sits at 87 days, reflecting a slower pace compared to 112 days recorded three months prior.
- The average sold price has slightly decreased to $547,639, from $578,368 in the same timeframe.
- Months of inventory currently stand at 5.0 months, indicating a balanced market with sufficient options available for buyers.
Curious how the Phoenix market has changed over time?
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In a deeper examination of the Phoenix real estate market, several key trends emerge from current metrics compared to historical data.
Initially, the number of active listings has climbed notably over the past month to 6,263, which is a 25% increase from the 5,010 active listings just three months ago. This influx may suggest more options for buyers, reflecting growing confidence among sellers to list their properties as market conditions stabilize.
The Days on Market (DOM) measure is currently at 87 days. This figure is lower than the 112 days from three months ago, indicating that properties are selling at a faster pace compared to earlier in the year. However, it still signals a market that allows buyers some breathing room compared to the rapid sales observed at the height of the previous year.
Moreover, looking at the average sold price, we see it is currently hovering around $547,639. That's a noticeable decrease from $578,368 recorded three months prior, suggesting that sellers may be more willing to negotiate, possibly in response to the increased competition from a larger number of active listings.
Additionally, months of inventory is currently at 5.0 months. This metric represents a balanced market where neither buyers nor sellers hold the dominant position, allowing for reasonable negotiations. Historically, this figure shows consistency; it was 5.1 months three months ago, indicating a slight but stabilized market equilibrium.
In terms of average price per square foot, active listings reflect an average of $312, moving up from $304 three months ago, supporting the overall price adjustments for homes in the area.
Overall, while the market exhibits some fluctuations, the increase in inventory appears to be meeting sustained demand, as indicated by a stable DOM and purchased homes at competitive prices. For both buyers and sellers, this environment necessitates strategic planning—buyers might want to act efficiently given the increasing active inventory, while sellers must price their homes wisely to attract potential offers amidst rising competition.
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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
Arizona’s Elite: Top 3% Realtor | Meticulous Attention to Detail
480-405-1265
