In this post, we’re going to highlight the numbers you need to know about the Maricopa County real estate market, what it means if you’re thinking about buying or selling, and where to get help moving toward your real estate goals this year.
What’s Happening in the Maricopa County Real Estate Market?
- There were 5,638 total sales, which is up 22% for the month and up 0.7% for the year.
- The total number of homes available for sale was 23,669 which is up 6.59% for the month and up 45.6% compared to this time last year.
- Average sales price was $615,090, which is up 7.8% compared to this time last year
- Average days’ on market was 81, which is up 11 days compared to this time last year.
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We’re currently in a market that slightly favors buyers, but it’s struggling to gain traction due to high interest rates and high prices.
What Does This Mean for Phoenix Homeowners and Sellers?
Sellers need to price their homes for where the market is going to be, not based on where it was a few months (or years!) ago. The market is moving, so your price needs to move, too.
Be prepared to pay for some of the Buyer’s closing costs and “buying down the rate” in the form of concessions. Last month, 34% of all closed transactions had some form of concessions paid to the Buyer from the Seller.
Since Buyers have so many choices of available homes on the market, make sure your home is “show ready.” Homes with the least amount of work (cosmetic or otherwise) sell the quickest and for the most money.
Don’t fall for offers from investors – these are often WAY below market value. Investors typically pay 25% to 30% below the market value of a home.
Interested in selling? Get your FREE Home Value Report here. We can show you our proven strategies to get 4% more for your home than the average Phoenix real estate agent, so reach out for a free consultation!
What Does This Mean for Phoenix Home Buyers?
Our busiest season is in full swing through June. If you can do it now, do it!
Interest rates are the biggest hurdle right now. If you find the right house, negotiate with the Seller to help buy down the rate in the form of concessions. Make sure you find a real estate agent that knows how to negotiate for your best interest!
Interested in buying? Sign up for our property search app here.
Conclusion
The bottom line is this: the market continues to balance out, with a slight advantage for Buyers due to the number of homes available, increased Seller concessions offered to Buyers, and decreased demand.
Our market is rapidly evolving as the data presents new changes daily; by the time you’re reading this, the numbers will have changed. So, to get the most up-to-date information, reach out to us today.
Lianne: 602-463-1730 | Jason: 602-909-0673| team@therfgaz.com
Sources:
- Arizona Regional Multiple Listing Service (ARMLS) statistics: https://armls.com/statistics - ARMLS® COPYRIGHT 2025
- The Cromford Report: https://cromfordreport.com/