Phoenix Homes

Phoenix Homes Market Highlights

As of Jul 10, 2025, the single-family home market in Phoenix exhibits some intriguing trends following notable shifts.

• Currently, there are 2,912 active listings, which marks an increase compared to 2,412 just three months ago, reflecting expanding inventory options for buyers.
• The average price per square foot for active listings stands at $339, remaining relatively stable despite the growth in active listings.
• The average days on market (DOM) for these active listings is 76 days, a subtle rise from 65 days three months ago, indicating slightly slower sales.
• Conversely, sold prices have recently averaged $636,858, showing an increase of about 6.5% from $598,088 three months ago, suggesting that buyers are still willing to pay more for homes despite the longer DOM.

An In-Depth Look at the Phoenix Homes Market

Currently, the single-family home market in Phoenix appears to be navigating a transitional phase marked by increased inventory but resilient demand reflected in sold prices. Over the past three months, the number of active listings has risen from 2,412 to 2,912, which is a 20.7% increase. This trend not only offers more choices for prospective buyers but could also lead to increased competition among sellers. Historically, this level of active listings is a significant turnaround from the 1,741 homes available six months ago, demonstrating ongoing market activity.

In terms of pricing, the average price per square foot for currently active listings is still hovering around $339, only slightly down from $340 three months prior. Meanwhile, the average sold price has climbed to approximately $636,858, up from $598,088 three months back, which signals a 6.5% increase. This upward pressure on sold prices may be surprising for some, especially with the increasing days on market, which now average 76 days. This is a noticeable rise from 65 days just three months ago, suggesting that while more properties are hitting the market, they might be taking longer to find buyers.

Additionally, the number of months of inventory is currently at 3.1 months, indicating a balanced market overall, as it falls within the typical range that favors neither buyers nor sellers specifically. However, this increasing inventory alongside higher sold prices suggests that buyers are still actively engaging in the market, likely fueled by favorable mortgage rates or personal financial conditions.

Looking ahead, sellers may want to keep a pulse on current market conditions to price their homes appropriately and strategically to maintain attractiveness. Buyers, on the other hand, have more options than before and should consider their negotiating tactics, especially with properties that have been on the market longer. As the market continues to shift, both parties will need to stay informed and adaptable.