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In the coming months, watch for buyers gaining more leverage as inventory continues to rise across Metro Phoenix markets. Mortgage rates have climbed to 6.94%, which may pressure affordability and influence buyer urgency. Despite slower sales, average prices remain strong, suggesting that pricing strategy and property positioning will be key for both buyers and sellers navigating a shifting market.
– Grant Van Dyke
Metro Phoenix
Average Sales Price: April 2025 > $1,094,860 vs May 2025 > $1,131,275 = 3% increase
Average Days On Market: April 2025 > 71 vs May 2025 > 70 = 1% decrease
Average Sale Price Per Square Foot: April 2025 > $382 vs May 2025 > $386 = 1% increase
Sale to List Price Ratio: April 2025 > 96.76% vs May 2025 > 96.90% = 0%
Number of Sold Listings: April 2025 > 520 vs May 2025 > 506 = 3% decrease
Months Supply of Inventory: April 2025 > 5.27 vs May 2025 > 5.37 = 2% increase
Mortgage Rate: April 2025 > 6.81% vs May 2025 > 6.94% = 2% increase
Top 10 Sales
$30,000,000 5815 N Saguaro Rd, Paradise Valley
$17,000,000 6203 E Joshua Tree Ln, Paradise Valley
$16,852,600 7140 N 40th St #12, Paradise Valley
$8,593,000 5327 N Invergordon Rd, Paradise Valley
$7,500,000 5508 N Quail Run Rd, Paradise Valley
$7,400,000 6825 N 39th Pl, Paradise Valley
$7,400,000 7116 N 46th Pl, Paradise Valley
$6,500,000 4446 E Mockingbird Ln, Paradise Valley
$6,450,000 5314 E Calle Del Norte, Phoenix
$6,250,000 37801 N Stirrup Cir, Carefree
GRAB OUR FREE COURSES
➡️ 6 Steps To Home Buyer Success – http://vandykebuyerplan.com
➡️ 7 Steps To Home Seller Plan – http://vandykesellerplan.com
➡️ 8 Steps To Agent Success – http://vandykeagentplan.com
