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Metro Phoenix home values rose 12% in Quarter 1 of 2025, signaling strong appreciation and motivating buyers to act before prices climb higher. Inventory also grew by 4%, giving buyers more choices while encouraging sellers to price strategically in a more competitive market. With mortgage rates down to 6.78%, improved affordability is fueling demand and increasing buyer confidence.
– Grant Van Dyke
Metro Phoenix
Average Sales Price: Q1 2024 > $1,041,896 vs Q1 2025 > $1,168,912 = 12% increase
Average Days On Market: Q1 2024 > 65 vs Q1 2025 > 74 = 14% increase
Average Sale Price Per Square Foot: Q1 2024 > $380 vs Q1 2025 > $403 = 6% increase
Sale to List Price Ratio: Q1 2024 > 96.69% vs Q1 2025 > 96.50% = <1%
Number of Sold Listings: Q1 2024 > 1227 vs Q1 2025 > 1370 = 12% increase
Months Supply of Inventory: Q1 2024 > 2.77 vs Q1 2025 > 2.88 = 4% increase
Mortgage Rate: Q1 2024 > 7.01% vs Q1 2025 > 6.78% = 3% decrease
Top 10 Sales
$15,000,000 4939 E Mockingbird Ln, Paradise Valley
$14,750,000 7835 N Ironwood Dr, Paradise Valley
$11,537,235 4829 E Orchid Ln, Paradise Valley
$11,000,000 8020 N 64th Pl, Paradise Valley
$10,650,000 5302 E Royal View Dr, Phoenix
$9,625,000 6638 N 66th Pl, Paradise Valley
$9,600,000 5739 E Cactus Wren Rd, Paradise Valley
$9,250,000 5203 N Monte Vista Dr, Paradise Valley
$9,000,000 6001 E Donna Cir, Paradise Valley
$8,750,000 5701 E Mockingbird Ln, Paradise Valley
