Phoenix Metro Real Estate Snapshot: Week of May 11, 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: 6.80% (unchanged from last week)
• 15-Year Fixed: 6.10% (unchanged from last week)

Rates as of May 12, 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 www.seekingagents.com for insights.

💡 Homeseller Tip of the Week

Stage Your Home for Maximum Appeal

A well-staged home can attract more buyers and higher offers in Phoenix’s market. Visit www.seekingagents.com to find staging experts.

📊 Visual Market Trends

Chart of the Phoenix real estate market trends:

Source: Arizona Real Estate Notebook