07/04/2025
📊 Phoenix Housing Market Snapshot – July 2025
The market continues to shift—here's what we're seeing compared to last year:
🔢 Key Stats (YoY):
🏡 Active Listings (excl. UCB/CCBS): 25,683 (+42%)
🏡 Total Active Listings: 28,862 (+37%)
📄 Pending Listings: 4,523 (+2.6%)
📝 Under Contract: 7,702 (+4.1%)
📈 Monthly Sales: 6,629 (+4.9%)
📉 Avg. $/Sq.Ft.: $293.08 (–0.8%)
💰 Median Sales Price: $450,000 (unchanged YoY, –1.1% MoM)
📉 What It Means:
Prices are softening. Inventory dipped slightly from last month, mostly due to cancelled or expired listings—not new demand. Still, a small bump in pending contracts shows buyers are watching for deals and reacting to lower mortgage rates.
🏘️ Sellers: Many are pulling back, waiting for better conditions—or converting to rentals.
📉 Buyers: Gaining leverage as affordability improves.
🔮 Outlook: Expect prices to stay flat or edge lower over the next 90 days—unless rates drop again, which could reignite demand.
🎯 Bottom Line:
The market is rebalancing. If you’re planning to sell, pricing strategically is key. If you’re buying, patience and preparation could pay off.
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