Phoenix Metro Real Estate Snapshot – Week of April 27, 2025

📊 Market Overview

• Median Listing Price: $499,900
• Median Sold Price: $470,000
• Median Price per Sq Ft: $350
• Active Listings: 2,261
• Median Days on Market: 57 days
• Market Type: Balanced

Data sourced from Realtor.com and Redfin.

📈 Mortgage Rates Update

• 30-Year Fixed: 6.86%
• 15-Year Fixed: 6.08%

Rates as of April 28, 2025. Source: Bankrate.

📉 Home Sale Cancellations on the Rise

Approximately 15.4% of pending home sales in the Phoenix metro area fell through in January, up from 14.3% a year earlier. Economic uncertainty and high prices are contributing factors. Source

💡 First-Time Homebuyer Tip

Get Pre-Approved Before House Hunting

Securing mortgage pre-approval not only clarifies your budget but also strengthens your position when making offers. For assistance, visit seekingagents.com.

📊 Visual Market Trends

Chart of the Phoenix real estate market trends:

Source: Arizona Real Estate Notebook