Phoenix Metro Market Update | September 2025

Phoenix Metro Market Update | September 2025

September’s housing numbers are in, and if you’ve been following along, this month’s trends might surprise you.

Across the Phoenix metro area, active listings climbed to 24,125, up 24% compared to last year. Meanwhile, buyer activity slowed slightly, with under-contract homes down about 3% from August. Even so, closed sales inched up 3% month-over-month and 12% year-over-year — thanks largely to new construction continuing to move inventory through builder incentives and rate buy-downs.

Homes spent an average of 86 days on the market, holding steady from August. For sellers, that means pricing and presentation matter more than ever. For buyers, it means more options and a little more breathing room to find the right fit.

Here’s where it gets interesting:
Despite higher supply, prices haven’t softened the way many expected. Most sellers who don’t have to sell are simply waiting rather than discounting, which keeps overall supply tighter and values holding steady.

Price trends by range:

• $300K–$700K: Still competitive, selling close to list price

• $1M–$3M: Softer, with more room to negotiate

• $3M+: Firmly in buyer’s market territory

The big takeaway?
We’re in a market that rewards strategy and patience — for both buyers and sellers.

If you’d like the full breakdown and my thoughts on what these trends mean heading into fall, subscribe to Desert Haus Weekly — my Wednesday morning email that makes market updates easy to understand and a little more enjoyable to read.