The Greater Phoenix Area

Finally, some good news, things have started to pick up a little in the greater Phoenix area.

Here are the basics - November 1, 2025, compared with November 1, 2024, for all areas & types:

While supply is up 21% from the same time last year and 6.1 % from last month, under contract listings also increased and were up 5.9%

• Monthly Sales are also up 5.2%
• Monthly Average Sales Price per Sq. Ft.: $293.75 versus $290.73 last year
• Monthly Median Sales Price: $450,000, unchanged from $450,000 last year.

Supply grew faster than demand once again in October, but the supply trend is weakening now. Despite lower mortgage rates, demand remains subdued and the market is still suffering from below-average volumes, though it has improved compared with last year.

First-time homebuyers remain scarce, and move-up buyers appear uncertain about their future. Luxury and super-luxury buyers are far more confident.