Phoenix Multifamily Market Overview
Phoenix Multifamily Market Highlights
As of May 5, 2025, the multifamily market in Phoenix shows some shifting dynamics that are worth noting.
- Over the past month, the number of active listings has increased, standing at 207, which is higher than the 160 listings seen three months ago.
- Nevertheless, the average sold price for recent transactions has remained lower than active listings, indicating a slight challenge for sellers in this market.
- Currently, the average Days on Market (DOM) for active listings is 109, which has risen from 140 days three months ago, reflecting a slower sales pace.
Curious how the Phoenix Multifamily market has changed over time?
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Phoenix Multifamily Market Report
An In-Depth Look at the Phoenix Multifamily Market
The multifamily market in Phoenix, as of May 5, 2025, reflects a blend of increasing inventory and fluctuating sales prices, which merit careful analysis. Over the past month, active listings experienced a noticeable rise to 207, representing a significant uptick from 160 three months ago. This increase in inventory corresponds with a higher months of inventory figure, now at 9.3 months, indicating an ample supply relative to demand.
Interestingly, while active inventory has grown, the average sold price has dropped to $636,900 in the last month, compared to an average of $763,625 three months ago. Such a decline in sold price, paired with rising active prices, suggests buyers may be negotiating lower offers or that the market is cooling down.
The average DOM for active listings stands at 109 days, up from 140 days three months ago, suggesting homes are taking longer to sell. This longer DOM can lead to reduced buyer urgency, often alleviating competition among homebuyers.
Overall, these metrics paint a picture where the current housing landscape is somewhat imbalanced, with an expanding pool of listings and a corresponding drop in sold prices that may lead to market hesitancy. Sellers may need to strategize carefully regarding pricing and negotiation tactics as they navigate a rising inventory environment while buyers might find greater opportunities to negotiate favorable terms in the current conditions. Keeping an eye on these evolving trends will be crucial for both buyers and sellers in the Phoenix multifamily real estate landscape.
Brian Adamski, Realtor
Top 3% in Arizona | Professional 5-Star Service
480-405-1265
