Phoenix Housing Market Update September 2025

AZ Blog Post Pic (6)

 

Phoenix Housing Market Update – September 2025

If you’ve been keeping an eye on the Phoenix housing market, you know it’s been full of ups and downs over the past couple of years. The latest numbers from Cromford® Associates are in, and they paint a very interesting picture for buyers, sellers, and investors. Let’s dive into the Phoenix real estate trends as of September 30, 2025.


📊 Active Listings Continue to Climb

  • Active Listings: 27,670 (up from 26,810 last month, and well above last year’s 22,676)

  • Two years ago, inventory was much tighter at just 15,653.

👉 Translation: Buyers have more options today compared to both last year and 2023. However, more listings also mean sellers are competing harder to stand out.


🏡 Buyer Activity Slows Down

  • Sales per Month dropped to 5,253 from 6,872 last month.

  • Pending Listings are holding steady at 4,395, almost identical to last month (4,283).

  • Listings Under Contract are 7,579, slightly up from August but still lower compared to two years ago.

👉 Fewer closed sales means the market is cooling a bit, which can create opportunities for buyers who felt priced out before.


⏳ Homes Are Taking Longer to Sell

  • Days on Market (Sales): 85 (up from 84 last month and much higher than 56 two years ago).

  • Days on Market (Active Listings): steady at 98 days.

👉 Sellers should prepare for longer marketing times. Homes aren’t flying off the shelf like they did in 2021–2022, so pricing strategy and presentation matter more than ever.


📈 Prices Show Mixed Signals

  • Monthly Sales Price per Square Foot: $286.95 (slightly up from last month’s $282.26).

  • Appreciation (Monthly $/SF): +0.5% (a nice rebound after last month’s -1.8%).

  • Average Monthly Sale Price: $583,604 (up from $569,653 in August).

  • Median Price: $454,990 (up $10K month-over-month).

👉 Even with more inventory and slower sales, prices are still inching upward. That suggests demand is still there—especially for well-priced homes in desirable neighborhoods.


📉 Supply vs. Demand Balance

  • Months of Supply: 4.7 months (up from 3.4 last month, and higher than 3.6 last year).

  • Cromford® Market Index: 80.5 (a slight uptick from 79.5 last month, but far below 144.5 from 2023).

👉 The Phoenix market is shifting toward a more balanced—sometimes buyer-favored—market. With nearly 5 months of supply, buyers have leverage they didn’t have in recent years.


💡 What This Means for You

  • For Buyers: More choices, less competition, and negotiating power are back on the table. If you’ve been waiting for the right time to buy in Phoenix, fall 2025 could be your moment.

  • For Sellers: Homes are still selling, but patience and strategy are key. Staging, professional marketing, and pricing competitively will make all the difference.

  • For Investors: With appreciation stabilizing and inventory climbing, this could be a smart time to secure properties before the next demand wave.


📍 Bottom Line

The Phoenix housing market in September 2025 is defined by rising inventory, slower sales, and steady prices. We’re not in the frantic market of 2021 anymore, but we’re also not in a downturn—rather, we’re seeing a more balanced real estate market where buyers and sellers both have opportunities.

If you’re thinking about making a move, whether buying, selling, or investing, now’s the time to have a strategy.


✨ Want to know what your home could sell for in today’s market? Or curious about neighborhoods where buyers are still competing hard? Let’s chat—I’d love to help you navigate this evolving Phoenix real estate market.


 

Check out this article next

Phoenix Luxury Hidden Gems: 5 Neighborhoods Relocation Buyers Can’t Miss in 2025

Phoenix Luxury Hidden Gems: 5 Neighborhoods Relocation Buyers Can’t Miss in 2025

When people think of luxury in Arizona, they immediately picture Paradise Valley, Camelback Mountain, and Scottsdale estates. But here’s the secret: some of the best…

Read Article
About the Author