#6823823, Carson P Griesemer, Mitchell Drake, Listing Office: ABI Multifamily
Phoenix Housing Market Report January 2025•Maricopa County, Arizona
Housing Prices in Phoenix, AZ
How much do homes in Phoenix, AZ cost?
Housing Market Conditions
Is Phoenix, AZ a buyer’s or seller’s market?
Seller'sMarket
Buyer'sMarket
Phoenix is a Neutral Market
Difference Since January 2024
At the same time last year, Phoenix was a Seller's Market.
Phoenix is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Median Sold Price
Based on all homes sold in the last 12 months
Homes in Phoenix have sold for 5.8% more than they did a year ago.
Summary: The median home sold price in Phoenix was $455,485 in January 2025, up 5.8% from last year, and the median price per square foot was $285.
Median Sold Price By Cities
City | Jan 2024 | Jan 2025 | Change YoY |
---|---|---|---|
Peoria | $488.3K | $520.1K | +6.5% |
Phoenix | $430.6K | $455.4K | +5.8% |
Paradise Valley | $3.1M | $3.2M | +4.5% |
Tolleson | $401K | $409.9K | +2.2% |
Glendale | $418.5K | $425.2K | +1.6% |
Median Sold Price By Bedrooms
Beds | Jan 2024 | Jan 2025 | Change YoY |
---|---|---|---|
11 Bedroom | $238.5K | $246.1K | +3.2% |
22 Bedrooms | $324.4K | $339.9K | +4.8% |
33 Bedrooms | $419.9K | $435.6K | +3.7% |
44 Bedrooms | $557K | $584.1K | +4.9% |
55+ Bedrooms | $793.4K | $828.8K | +4.5% |
Summary: Phoenix housing price by bedroom type for January 2025, compared to the previous year. The home price for 1 bedroom homes increased by +3.2%. The home price for 2 bedroom homes increased by +4.8%. The home price for 3 bedroom homes increased by +3.7%. The home price for 4 bedroom homes increased by +4.9%. The home price for 5 bedroom homes increased by +4.5%.
Housing supply in Phoenix, AZ
How many homes are available in Phoenix, AZ?
Number of Homes For Sale
Last Month | 2 months ago | Change MoM |
---|---|---|
6,423Last MonthJan 2025 | ||
5,6912 months agoDec 2024 | +12.9 % Change MoMDec – Jan |
Summary: The Phoenix real estate market had 6,423 homes for sale in Jan 2025, a 12.9 % increase compared to Dec 2024.
Number of Homes Sold
Last Month | 2 months ago | Change MoM |
---|---|---|
953Last MonthJan 2025 | ||
1,2332 months agoDec 2024 | -22.7 % Change MoMDec – Jan |
Homes For Sale By Bedroom Count
Beds | Dec 2024 | Jan 2025 | Change MoM |
---|---|---|---|
11 Bedroom | 203 | 231 | +13.8% |
22 Bedrooms | 993 | 1,170 | +17.8% |
33 Bedrooms | 2,372 | 2,618 | +10.4% |
44 Bedrooms | 1,598 | 1,795 | +12.3% |
55+ Bedrooms | 525 | 609 | +16.0% |
Summary: Phoenix housing inventory by bedroom type for January 2025, compared to the previous month. The inventory for 1 bedroom homes increased by +13.8%. The inventory for 2 bedroom homes increased by +17.8%. The inventory for 3 bedroom homes increased by +10.4%. The inventory for 4 bedroom homes increased by +12.3%. The inventory for 5 bedroom homes increased by +16.0%.
Asking Price vs. Sold Price
How much do homes in Phoenix, AZ cost?
Over Asking Price128 Homes
At Asking Price242 Homes
Under Asking Price583 Homes
If you're buying a home in Phoenix, you may be able to get a good deal. 61.2% of homes here sold below asking price last month.
Summary: A total of 953 homes were sold or pending in Phoenix in January 2025, down by 22.7% month-over-month. Of the 953 sold homes, 61% were sold under asking, 25% were sold at asking, and and 13% were sold over asking.
Days on Market for Phoenix, AZ
How long does it take to sell a home in Phoenix, AZ?
Breakdown of Home Sale Times
Under 30 Days222 Homes
30 – 90 Days427 Homes
Over 90 Days303 Homes
Avg time on Rocket Homes in Phoenix has remained consistent over time.
Summary: During January 2025, 953 homes were sold in Phoenix; 23% of homes were sold within 30 days, 45% of homes were sold within 30 to 90 days, and 32% of homes were sold over 90 days.
Average Sale Time
This Year | 1 year ago | Change YoY |
---|---|---|
74 DaysThis YearJan 2025 | ||
58 Days1 year agoJan 2024 | +28.7 % Change YoYJan 2024 – Jan 2025 |
Summary: Homes in Phoenix had an average listing age of 74 days in Jan 2025, up by 28.7% compared to the previous year.
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Newest Listings in Phoenix, AZ
What homes are available in Phoenix, AZ?
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MLS Disclaimers and Copyright
Based on information from Arizona Regional MLS, Prescott Area MLS, Northern Arizona Multiple Listing Service, and MLS of Southern Arizona for the period 02/01/2023 - 02/01/2025
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Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 2/20/2025, 7:20:57 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 2/20/2025, 7:15:58 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 2/20/2025, 7:15:58 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 2/20/2025, 7:20:52 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.