Phoenix Metro Real Estate Snapshot: Week of June 01, 2025

📊 Market Overview

• Median Listing Price: $479,000
• Median Sold Price: $470,000
• Median Price per Sq Ft: $279
• Active Listings: 5,916
• Median Days on Market: 59 days
• Market Type: Balanced

Data sourced from Redfin.

📈 Mortgage Rates Update

• 30-Year Fixed: 6.95% (up 6 basis points from last week)
• 15-Year Fixed: 6.25% (up 6 basis points from last week)

Commission savings of 1% on a $400,000 home — that’s $4,000.
Use it to buy down your rate and save ~$67/month on your mortgage.

Agents compete. You save. SeekingAgents.com

Rates as of June 02, 2025. Source: Bankrate.

📉 Home Sale Cancellations on the Rise

Home sale cancellations in Phoenix are increasing slightly as buyers hesitate due to high inventory and stabilizing prices, with some deals falling through during inspections. Source

💡 Homebuyer Tip of the Week

Explore Up-and-Coming Neighborhoods

Phoenix has hidden gems with growth potential; research areas like South Phoenix. Connect with local experts at seekingagents.com for insights.

💡 Homeseller Tip of the Week

Price Competitively from the Start

Set a realistic price based on recent Phoenix sales to avoid prolonged listings. Get pricing advice from agents at seekingagents.com.

📊 Visual Market Trends

Chart of the Phoenix real estate market trends:

Source: Arizona Real Estate Notebook