Phoenix Homes Market Overview
Phoenix Homes Market Highlights
As of May 5, 2025, the single-family home market in Phoenix is experiencing noteworthy fluctuations.
- Inventory levels have increased, with 3,990 active listings over the past month, compared to 3,204 three months ago.
- The average sold price has seen a slight decline, now at $605,158, down from $641,042 three months ago.
- Days on market (DOM) for sold properties is currently at 51 days, a slight increase from 54 days previously, indicating a gradual slowing in the pace of sales.
- As months of inventory stands at 4.2, this suggests a balanced market.
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Phoenix Homes Market Report
An In-Depth Look at the Phoenix Homes Market
The Phoenix single-family housing market, as of May 5, 2025, showcases a complex interplay of factors contributing to a shifting landscape.
Starting with inventory, the active listings have risen significantly to 3,990 in the past month, reflecting a 24.5% increase from 3,204 three months ago. This surge in available properties could be attributed to a recent uptick in new constructions or homeowners opting to sell, potentially in anticipation of future market conditions.
Meanwhile, the average sold price has declined slightly to $605,158 over the past month, down from $641,042 in February 2025. This shift could indicate buyer hesitance towards higher price points, especially in light of rising mortgage rates. Additionally, sold listings’ average price per square foot has stabilized around $305, suggesting that while the overall sales value may be softening, pricing per square foot remains consistent.
In terms of Days on Market (DOM), the current average is 51 days, essentially holding steady compared with 54 days three months ago. An increase in DOM, even slight, could signal a more cautious buyer sentiment, allowing buyers more time to consider their options and negotiate terms. This trend aligns with an increase in months of inventory, now standing at 4.2 months, which is a slight decrease from 4.4 months three months ago. Such statistics indicate a transition towards a more balanced market where buyers have more choices without an immediate pressure to make hasty purchases.
In conclusion, while recent trends show mixed signals—with rising inventory and fluctuating prices—the underlying stability of the average price per square foot and a relatively balanced market environment suggest that both buyers and sellers should exercise caution and strategy. By understanding these dynamics, potential buyers can negotiate better pricing, while sellers can better gauge competitive listing prices and timing strategies.
Brian Adamski, Realtor
Helping Families Find Homes in Phoenix Since 2007 | Service-First Approach
480-405-1265
