Phoenix Condos Market Overview
Phoenix Condos Market Highlights
As of May 5, 2025, the condos/townhomes/patio homes market in Phoenix is exhibiting a blend of stability and subtle shifts that could influence potential buyers and sellers.
- The inventory of active listings has increased significantly over the past month to 1,572, compared to 1,240 just three months ago.
- The current average price for active listings stands at $413,682, which shows a slight rise from earlier in the year.
- Days on market (DOM) has decreased from 121 days three months ago to 89 days, indicating a quicker sales pace.
- The average sold price has permissibly adjusted to $373,126, reflecting mild buyer negotiation power.
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Phoenix Condos Market Report
An In-Depth Look at the Phoenix Condos Market
The Phoenix condos/townhomes/patio homes market, as of May 5, 2025, reveals several intricate patterns that merit consideration by both buyers and sellers.
Over the past month, the total number of active listings has climbed to 1,572, which is a notable increase from 1,240 three months ago. This growth suggests that sellers are feeling more confident in listing their properties, likely due to a combination of ongoing market demand and seasonal influences. When we examine months of inventory, we find that it currently stands at 6.2, slightly down from 6.3 months three months prior, indicating a steady supply relative to the current demand level.
While the average price for active listings is currently $413,682, this represents just a slight increase compared to $412,218 from three months ago. This stability in selling price may attract more buyers who are wary of fluctuating prices. Interestingly, the average sold price recently adjusted to $373,126, down from $388,526 three months ago. This shift could indicate that buyers are exerting their preference for lower offers, which may prompt sellers to adjust their expectations.
A potential factor at play in influencing these trends is the decrease in DOM, which has reduced from 121 days three months ago to 89 days. The faster turnover time points to increased activity and urgency in the market, compelling sellers to price accordingly and buyers to act quickly.
Moreover, looking at pending listings, the current average price is $418,870, slightly higher than the average price of active listings. This discrepancy between pending and active prices indicates that properties are going under contract at prices that are just above the active listing average, suggesting a potential tightening in negotiation margins as buyers opt for competitive bids.
Buyers and sellers should explore strategic timing, with sellers possibly benefiting from the current sales pace while evaluating pricing strategies in response to shifting market dynamics.
Brian Adamski, Realtor
Living in Phoenix Since 2003 | Focused on What Matters Most — You
480-405-1265
