Is Now a Good Time to Buy or Sell Real Estate in Phoenix, AZ?

Phoenix, Arizona, has long been a real estate hot spot—both literally and figuratively. Over the past few years, the Valley of the Sun has seen dramatic shifts, with rapid price growth, bidding wars, and now a market that’s settling into a new rhythm. If you’re wondering whether it’s a good time to buy or sell in Phoenix, here’s a friendly, in-depth look at what’s happening on the ground right now.

What’s Happening in the Phoenix Market?

During the pandemic, Phoenix became one of the fastest-growing markets in North America. Prices soared, homes sold in days, and competition was fierce. Heading into 2025, things have cooled—just a bit. Higher mortgage rates have slowed the pace, and more homes are coming onto the market, giving buyers and sellers new opportunities (and new challenges).

What Buyers Need to Know

• More Choices: Inventory is higher than it was during the peak, which means buyers can explore more options and feel less rushed.
• Negotiation Power: With homes staying on the market a little longer, buyers can negotiate on price and ask for concessions, such as closing cost assistance or rate buy-downs.
• Price Stability: The days of double-digit price jumps are behind us—for now. Prices have leveled off, giving buyers a chance to plan with more confidence.
• Interest Rates: While rates are higher than in recent years, creative solutions and negotiation can help offset some of the costs.

What Sellers Need to Know

• Still a Strong Market: Phoenix continues to attract new residents, especially from higher-cost states, so demand remains steady for homes in good condition and desirable locations.
• Price it Right: Overpricing can lead to longer days on the market. Homes that are listed competitively and look great—both online and in person—are still selling quickly.
• Preparation Pays: Small upgrades, fresh paint, and professional photos can make a big difference in attracting buyers.

Neighborhood Highlights

Popular areas like Arcadia, North Central, and the East Valley (think Gilbert and Chandler) are still seeing strong demand thanks to great schools, amenities, and lifestyle perks. Meanwhile, some outlying neighborhoods and luxury markets are a bit more variable, so working with a local expert is key.

Looking Ahead

Most experts agree that Phoenix’s long-term outlook is bright. Job growth, affordability compared to the West Coast, and a steady flow of new residents all point toward continued stability. The market is becoming more balanced, so both buyers and sellers have a shot at success—if they play their cards right.

Tips for Buyers and Sellers

• For Buyers: Get pre-approved, know your budget, and be ready to move when you find the right fit. Don’t be afraid to negotiate!
• For Sellers: Work with an agent who knows your neighborhood, price your home to reflect current conditions, and make sure your listing shines.

Whether you’re buying, selling, or just curious about your home’s value, now is a great time to explore your options in Phoenix. If you’d like to see current listings or get a personalized market analysis, reach out—I’m here to help you make your next move with confidence!