The Phoenix market, generally speaking, is in balance–some areas are doing worse/better than others, but at this moment, neither buyer nor seller seems to have the upper hand. Available housing inventory has been relatively stable the past 30 days as there are currently 25,725 active listings–nearly identical to what we had last month. The active listings have been on the market for an average of 96 days–unchanged from last month.
There are currently 7415 pending sales. Indeed, there has been an increase in contract activity, month-over-month. The chart below shows how the pending sales have changed over the past two years:
There are 464 “coming soon” listings and from October 1 to October 31, 2025, there have been 6199 closed sales. Here are MLS stats for recently closed sales:
- Average days on market: 87
- Average sold price per square foot: $303
- Average list to sale price ratio: .98
An investor recently asked me about distressed properties and asked if this segment was growing. Last month we had about 345 distressed properties across the county and currently there are 385–still a very small percentage of active inventory.
Interest still have not come down enough to make current home prices affordable and many buyers are still hanging on the sidelines. Although we have seen a steady increase in inventory over the past few years, there are still a sizable group of sellers who want to sell, but who don’t want to give up their 3% mortgage–those folks are staying put. We expect more of the same for a few more weeks and then we’ll see the usual holiday slowdown through mid-January.
