🌵 Greater Phoenix Real Estate Market Update — October 2025

As we head into fall, the Valley housing market is showing renewed energy with stronger sales activity and modest price growth compared to this time last year.

Here’s what’s happening:

• More Homes for Sale: There are about 24,450 active listings across Greater Phoenix — up 25% from last year and 5% higher than last month. Buyers now have more choices than they’ve had in quite some time.
• Steady Buyer Activity: Even with more listings on the market, the number of homes going under contract has remained solid — up nearly 2% year-over-year and slightly higher than last month.
• Sales on the Rise: Closed sales in September jumped 12% higher than a year ago, boosted by slightly lower mortgage rates early in the month.
• Prices Holding Firm: The average price per square foot is now $287, up 0.8% year-over-year. The median sale price climbed to $454,000, about 2.7% higher than last October.
• Luxury Market Strength: Much of the recent price growth has come from an uptick in luxury home sales, which have been particularly active over the past month.

What it means for you:

• For Sellers: Prices have stabilized and even nudged higher after a few softer months, but competition is increasing as inventory continues to rise. Smart pricing and professional marketing will be key to attracting today’s more selective buyers.
• For Buyers: More inventory means more opportunity. With rates fluctuating and sellers motivated before the holidays, this may be one of the best windows of the year to find value and negotiate favorable terms.

While the strong demand we saw in late summer has leveled off, the overall market remains balanced — neither overheated nor stalled. As interest rates continue to shift, timing and strategy will make all the difference heading into the end of the year.