Phoenix Metro Real Estate Snapshot: Week of May 18, 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: 6.84% (up 4 basis points from last week)
• 15-Year Fixed: 6.14% (up 4 basis points from last week)

Rates as of May 19, 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

Get Pre-Approved Early

A mortgage pre-approval strengthens your offer in Phoenix’s competitive market. Find expert agents at www.seekingagents.com to guide you.

💡 Homeseller Tip of the Week

Highlight Energy-Efficient Features

Showcase solar panels or smart thermostats to appeal to eco-conscious buyers. Find agents to market your home at www.seekingagents.com.

📊 Visual Market Trends

Chart of the Phoenix real estate market trends:

Source: Arizona Real Estate Notebook