Jeffrey M Sibbach, Cody Ballentine, Listing Office: eXp Realty
Phoenix Housing Market Report December 2024•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 December 2023
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 5.4% more than they did a year ago.
Summary: The median home sold price in Phoenix was $452,845 in December 2024, up 5.4% from last year, and the median price per square foot was $285.
Median Sold Price By City
City | Dec 2023 | Dec 2024 | Change YoY |
---|---|---|---|
Peoria | $484.5K | $517.3K | +6.8% |
Phoenix | $429.6K | $452.8K | +5.4% |
Tolleson | $400K | $409.9K | +2.5% |
Glendale | $416.4K | $425K | +2.1% |
Paradise Valley | $3.1M | $3.2M | +2.0% |
Median Sold Price By Bedrooms
Beds | Dec 2023 | Dec 2024 | Change YoY |
---|---|---|---|
11 Bedroom | $230K | $249.3K | +8.4% |
22 Bedrooms | $322.8K | $339.9K | +5.3% |
33 Bedrooms | $419K | $435.6K | +4.0% |
44 Bedrooms | $560.3K | $577.9K | +3.1% |
55+ Bedrooms | $778.4K | $826K | +6.1% |
Summary: Phoenix housing price by bedroom type for December 2024, compared to the previous year. The home price for 1 bedroom homes increased by +8.4%. The home price for 2 bedroom homes increased by +5.3%. The home price for 3 bedroom homes increased by +4.0%. The home price for 4 bedroom homes increased by +3.1%. The home price for 5 bedroom homes increased by +6.1%.
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 |
---|---|---|
5,771Last MonthDec 2024 | ||
6,0242 months agoNov 2024 | -4.2 % Change MoMNov – Dec |
Summary: The Phoenix real estate market had 5,771 homes for sale in Dec 2024, a 4.2 % decrease compared to Nov 2024.
Number of Homes Sold
Last Month | 2 months ago | Change MoM |
---|---|---|
1,212Last MonthDec 2024 | ||
1,1352 months agoNov 2024 | +6.8 % Change MoMNov – Dec |
Homes For Sale By Bedroom Count
Beds | Nov 2024 | Dec 2024 | Change MoM |
---|---|---|---|
11 Bedroom | 211 | 213 | +0.9% |
22 Bedrooms | 1,022 | 1,042 | +2.0% |
33 Bedrooms | 2,527 | 2,393 | -5.3% |
44 Bedrooms | 1,727 | 1,609 | -6.8% |
55+ Bedrooms | 537 | 514 | -4.3% |
Summary: Phoenix housing inventory by bedroom type for December 2024, compared to the previous month. The inventory for 1 bedroom homes increased by +0.9%. The inventory for 2 bedroom homes increased by +2.0%. The inventory for 3 bedroom homes decreased by -5.3%. The inventory for 4 bedroom homes decreased by -6.8%. The inventory for 5 bedroom homes decreased by -4.3%.
Asking Price vs. Sold Price
How much do homes in Phoenix, AZ cost?
Over Asking Price199 Homes
At Asking Price292 Homes
Under Asking Price721 Homes
If you're buying a home in Phoenix, you may be able to get a good deal. 59.5% of homes here sold below asking price last month.
Summary: A total of 1,212 homes were sold or pending in Phoenix in December 2024, up by 6.8% month-over-month. Of the 1212 sold homes, 59% were sold under asking, 24% were sold at asking, and and 16% 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 Days352 Homes
30 – 90 Days553 Homes
Over 90 Days307 Homes
Avg time on Rocket Homes in Phoenix has remained consistent over time.
Summary: During December 2024, 1212 homes were sold in Phoenix; 29% of homes were sold within 30 days, 46% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
Average Sale Time
This Year | 1 year ago | Change YoY |
---|---|---|
66 DaysThis YearDec 2024 | ||
52 Days1 year agoDec 2023 | +26.8 % Change YoYDec 2023 – Dec 2024 |
Summary: Homes in Phoenix had an average listing age of 66 days in Dec 2024, up by 26.8% compared to the previous year.
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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, Northern Arizona Multiple Listing Service, and MLS of Southern Arizona for the period 01/01/2023 - 01/01/2025
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/29/2025, 3:20:58 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: 1/29/2025, 3:15:58 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/29/2025, 3:15:58 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: 1/29/2025, 3:20:51 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.