#6877793, Joshua M Shaver, Catherine Lewis, Listing office: Russ Lyon Sotheby's International Realty
Phoenix Housing Market Report May 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 Seller's Market
Difference Since May 2024
Since last year, Phoenix has remained a Seller's Market.
Phoenix is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Median Sold Price
Based on all homes sold in the last 12 months
Homes in Phoenix have sold for 1.8% more than they did a year ago.
Summary: The median home sold price in Phoenix was $456,920 in May 2025, up 1.8% from last year, and the median price per square foot was $284.
Median Sold Price By Cities
City | May 2024 | May 2025 | Change YoY |
---|---|---|---|
Paradise Valley | $3.0M | $3.5M | +16.0% |
Peoria | $499.9K | $520.8K | +4.2% |
Phoenix | $448.9K | $456.9K | +1.8% |
Tolleson | $406.4K | $410.9K | +1.1% |
Glendale | $424.9K | $424.9K | 0.0% |
Median Sold Price By Bedrooms
Beds | May 2024 | May 2025 | Change YoY |
---|---|---|---|
11 Bedroom | $249.9K | $231K | -7.6% |
22 Bedrooms | $329.9K | $339.9K | +3.0% |
33 Bedrooms | $433.1K | $439.1K | +1.4% |
44 Bedrooms | $579.9K | $582.1K | 0.4% |
55+ Bedrooms | $816.7K | $805.2K | -1.4% |
Summary: Phoenix housing price by bedroom type for May 2025, compared to the previous year. The home price for 1 bedroom homes decreased by -7.6%. The home price for 2 bedroom homes increased by +3.0%. The home price for 3 bedroom homes increased by +1.4%. The home price for 4 bedroom homes increased by 0.4%. The home price for 5 bedroom homes decreased by -1.4%.
How does Phoenix, AZ compare with other places?
Market comparison tool
Data and numbers shown are subject to change and may vary based on different timeframes.
Phoenix, AZ
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 |
---|---|---|
8,006Last MonthMay 2025 | ||
7,6982 months agoApr 2025 | +4.0 % Change MoMApr – May |
Summary: The Phoenix real estate market had 8,006 homes for sale in May 2025, a 4.0 % increase compared to Apr 2025.
Number of Homes Sold
Last Month | 2 months ago | Change MoM |
---|---|---|
1,506Last MonthMay 2025 | ||
1,5102 months agoApr 2025 | -0.3 % Change MoMApr – May |
Homes For Sale By Bedroom Count
Beds | Apr 2025 | May 2025 | Change MoM |
---|---|---|---|
11 Bedroom | 251 | 282 | +12.4% |
22 Bedrooms | 1,371 | 1,392 | +1.5% |
33 Bedrooms | 3,105 | 3,168 | +2.0% |
44 Bedrooms | 2,217 | 2,371 | +6.9% |
55+ Bedrooms | 754 | 793 | +5.2% |
Summary: Phoenix housing inventory by bedroom type for May 2025, compared to the previous month. The inventory for 1 bedroom homes increased by +12.4%. The inventory for 2 bedroom homes increased by +1.5%. The inventory for 3 bedroom homes increased by +2.0%. The inventory for 4 bedroom homes increased by +6.9%. The inventory for 5 bedroom homes increased by +5.2%.
Asking Price vs. Sold Price
How much do homes in Phoenix, AZ cost?
Over Asking Price222 Homes
At Asking Price419 Homes
Under Asking Price865 Homes
If you're buying a home in Phoenix, you may be able to get a good deal. 57.4% of homes here sold below asking price last month.
Summary: A total of 1,506 homes were sold or pending in Phoenix in May 2025, down by 0.3% month-over-month. Of the 1506 sold homes, 57% were sold under asking, 28% were sold at asking, and and 15% 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 Days486 Homes
30 – 90 Days692 Homes
Over 90 Days327 Homes
Avg time on Rocket Homes in Phoenix has remained consistent over time.
Summary: During May 2025, 1506 homes were sold in Phoenix; 32% of homes were sold within 30 days, 46% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.
Average Sale Time
This Year | 1 year ago | Change YoY |
---|---|---|
64 DaysThis YearMay 2025 | ||
52 Days1 year agoMay 2024 | +23.3 % Change YoYMay 2024 – May 2025 |
Summary: Homes in Phoenix had an average listing age of 64 days in May 2025, up by 23.3% 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, and Northern Arizona Multiple Listing Service for the period 06/01/2023 - 06/01/2025

Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 6/9/2025, 5:45:30 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: 6/9/2025, 5:45:36 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

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Last updated on: 6/9/2025, 5:45:37 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.