Phoenix, AZ metro area Housing Market
Cool MarketComprehensive housing market data for the Phoenix, AZ metro area metro area. Track home prices, inventory, days on market, and competition — updated monthly for real estate investors.
Data period: March 2026
Median Sale Price
$470K
– 0.0% YoY
Days on Market
59 days
↑ 5.4% YoY
Active Inventory
25,524
↓ 3.5% YoY
Homes Sold
7,023
↑ 8.8% YoY
Cool Market
Buyer activity is slowing, creating more negotiating room.
Phoenix, AZ metro area Market Summary
The Phoenix, AZ metro area housing market is cooling down. As of March 2026, the median home sale price is $470K, down 0.0% year-over-year. Homes are spending a median of 59 days on the market, 5.4% longer than a year ago.
There are 25,524 homes for sale — 3.5% fewer than last year. With 3.6 months of supply, this is a seller's market. 8,923 new listings were added during this period, down 5.0% year-over-year.
Homes are selling for 98.0% of their list price on average, suggesting room for negotiation. 13.8% of homes sell above their asking price. 35.5% of listings have had a price drop.
Market Opportunity Score
Based on current market conditions
73
Contributing Factors
How This Market Compares
vs. National Median
vs. Arizona Median
Investor Takeaway
The cooling market may present buying opportunities with less competition and more negotiating leverage. A significant share of sellers are cutting prices, which can signal motivated sellers and potential deals.
Phoenix, AZ metro area Market Trends
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Detailed Market Metrics
Median List Price
$490K
Price per Sq Ft
$258
Sale-to-List Ratio
98.0%
Months of Supply
3.6
Sold Above List
13.8%
Price Drops
35.5%
New Listings
8,923
↓ 5.0% YoY
Pending Sales
8,918
Off Market in 2 Weeks
24.9%
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Try It FreeHousing market data provided by Redfin, a national real estate brokerage. Not financial advice. Always consult a qualified professional before making investment decisions.