Phoenix Condos

Phoenix Condos Market Highlights

As of Jul 18, 2025, the condos/townhomes/patio homes market in Phoenix is witnessing shifts that impact both buyers and sellers in significant ways.

• The average price for active listings currently stands at $382,515.
• A decline in active listings, which dropped to 1,187 from 1,029 three months ago, indicates tighter options for buyers.
• Meanwhile, the days on market (DOM) for active listings increased to 95, reflecting a slower sales pace.
• Sold prices remain competitive, averaging $330,383, which is stable compared to prior months.
• The months of inventory is currently at 4.9, suggesting a balanced market overall.

An In-Depth Look at the Phoenix Condos Market

The condos/townhomes/patio homes market in Phoenix, as of Jul 18, 2025, reflects a complex interplay of buyer demands and seller positioning. Currently, active listings have decreased to 1,187, down from 1,029 just three months ago, leading to slightly tighter options for prospective buyers. This downward shift in inventory could suggest a more competitive environment, albeit the current months of inventory resting at 4.9 indicates a balanced market where neither buyers nor sellers hold a dominant position.

A noteworthy aspect is the average days on market (DOM), which has experienced an uptick to 95 days for active listings. This increase suggests that properties are taking longer to sell, which could provide opportunities for buyers to negotiate better terms but may also signify a cooling market. Interestingly, the average sold price holds steady at $330,383, a slight deviation from the $381,947 average three months back.

This price stability, amid decreasing active inventory, coupled with an increase in DOM, suggests that while buyers may have the upper hand in negotiations, sellers still manage to secure favorable selling prices. The sold price-to-original list price percentages average around 98%, indicating that homes are generally entering contracts close to their asking price.

Buyers in this market should be prepared to act quickly given the notable 117% increase in sold listings compared to just a year ago. While the market seems balanced, the slower pace indicated by the increased DOM and the drop in active listings points towards a cautious approach by sellers, likely resulting in adjustments and flexibility in negotiations. In conclusion, navigating this market requires both parties to stay informed on price trends and remain adaptable to changing conditions.