Market Update - Phoenix Metro - April 15,2025

Published on 4/15/2025
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Phoenix Metro Real Estate Snapshot

Week of April 15, 2025


📊 Market Overview

  • Median Listing Price: $492,000
  • Median Sold Price: $450,000
  • Median Price per Sq Ft: $294
  • Active Listings: 9,783
  • Median Days on Market: 45 days
  • Market Type: Balanced Market

Data sourced from Realtor.com and Redfin.

📈 Mortgage Rates Update

  • 30-Year Fixed: 6.88%
  • 15-Year Fixed: 6.00%

Rates as of April 15, 2025. Source: Bankrate.

📉 Home Sale Cancellations on the Rise

In January 2025, 15.4% of pending home sales in the Phoenix metro area were canceled, up from 14.3% the previous year. High prices and mortgage rates contribute to buyer hesitancy. Source: Axios

💡 First-Time Homebuyer Tip

Get Pre-Approved Before House Hunting

Securing a mortgage pre-approval not only clarifies your budget but also strengthens your position when making an offer. Sellers often favor buyers who have demonstrated financial readiness.

📊 Visual Market Trends

Chart of the Phoenix real estate market trends:

Phoenix Real Estate Market at a Glance

Source: Arizona Real Estate Notebook

Stay informed with Seeking Agents™ – your trusted source for Phoenix real estate insights.

*Savings are not guaranteed and depend on market conditions and agent negotiations.
This article is for informational purposes only and does not constitute financial advice.
Always consult with a licensed real estate professional before making any real estate decisions.