📊 Metro Phoenix Market Update – May 2025 | Prices Drop, But Momentum Shifts
The Metro Phoenix housing market just experienced a last-minute shift. A flurry of end-of-month closings helped improve the numbers, but the average sale price is still down—now nearly $45,000 over the past 4 weeks.
📽️ Watch the Full Market Update Video Here
I break down all the numbers and trends in detail, including what’s happening across Paradise Valley, Scottsdale, and the ultra-luxury market.
📅 Let’s Talk Strategy
Whether you’re thinking about buying, selling, or simply watching the market, now is the time to act with intention.
Click below to schedule a Google Meet video call to talk about your goals:
🔗 https://api.leadconnectorhq.com/widget/bookings/hankersonteam
📊 What’s Happening in the General Market?
April closed stronger than expected. While pricing is still under pressure, the surge in pending contracts shows buyer confidence remains solid. Inventory continues to climb, but not as quickly as demand, which is good news for sellers looking to list now.
- Average sale price is down ~$45,000 over 4 weeks
- Homes under contract down by 19
- Inventory up by 779
- Sales volume improved slightly from March
Well-priced homes in good condition are still moving—sometimes quickly—and we’re seeing competition increase in certain price brackets.
💎 What’s New in the Luxury Market?
High-end buyers haven’t slowed down. Monthly sales of $3 million+ homes have jumped from 61 to 83, showing that demand remains robust even at the top. That said, inventory in the ultra-luxury segment continues to rise:
- 📈 $10M+ homes now reflect a 3-year supply
- 📈 $14M+ homes have expanded to over a 5-year supply
This means sellers of ultra-high-end homes need a longer runway—and a sharper pricing and marketing strategy—to find the right buyer.
🏡 What Does This Mean for You?
We’re still in a dynamic market, with mixed signals depending on price point and product type. But one thing hasn’t changed: Arizona remains one of the most desirable states to live in, and people continue to relocate here in large numbers.
If you’re a buyer, this may be your window—you’ve got more negotiating power now, and once interest rates drop, demand could spike again.
If you’re a seller, don’t wait for the market to shift further. Strategic pricing, preparation, and marketing will be the difference between selling quickly or sitting on the market.
📅 Let’s Talk Strategy
Whether you’re exploring your options or ready to make a move, I’m here to help.
Click below to schedule a video call and let’s create a plan that works for you:
🔗 https://api.leadconnectorhq.com/widget/bookings/hankersonteam
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