More and more available housing inventory is the big news–across the county, we are seeing inventory rise. As of April 19, 2025, there are 26,240 actively listed properties across the greater Phoenix metro area. The active listings have been on the market for an average of 84 days. There are currently 9130 pending sales and 784 “coming soon” listings.
From March 1 to March 31, 2025 there have been 6951 closed sales. Here are some MLS stats for recently closed sales:
- Average days on market: 77
- Average sold price per square foot: $330
- Average list to sale price ratio: .96
Declining Sales and More Available Inventory
The chart below shows the decline in total closed sales over the past few months:
This chart shows the days of available inventory if no new listings hit the market:
Market Summary
We have not seen much of a break in terms of interest rates and with the recent turn down in the stock market, buyer activity has fallen. Although many cities saw a year-over-year rise in the average price per square foot, most areas are heading towards a flat market or buyer’s market. Seller’s need to be more aggressive in terms of correct pricing as buyers are beginning to hold the cards.
City ranking showing the change in average $/SF by city/town–graphic courtesy of @Cromford Report 2025
