Phoenix Metro Real Estate Snapshot – Week of May 4, 2025

📊 Market Overview

• Median Listing Price: $505,000
• Median Sold Price: $470,000
• Median Price per Sq Ft: $297
• Active Listings: 2,174
• Median Days on Market: 57 days
• Market Type: Balanced

Data sourced from Realtor.com and Redfin.

📈 Mortgage Rates Update

• 30-Year Fixed: 6.78% ▼ 0.08%
• 15-Year Fixed: 5.95% ▼ 0.13%

Rates as of May 5, 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

💡 Homebuyer Tip of the Week

Review the HOA Rules Before Making an Offer

Some communities have restrictive rules, fees, or special assessments. Ask for a copy of the HOA documents before you buy. For guidance, visit seekingagents.com.

💼 Homeseller Tip of the Week

Declutter to Maximize Visual Appeal

A tidy, depersonalized home feels larger and helps buyers imagine themselves living there. Start packing early to streamline your sale. Find seller-savvy agents at seekingagents.com.

📊 Visual Market Trends

Chart of the Phoenix real estate market trends:

Source: Arizona Real Estate Notebook