Housing Market Update - July 2025
The Arizona real estate market in July 2025 continues its shift towards a more balanced, buyer-friendly environment, a significant change from the heated market conditions experienced in recent years.
Here's a look at key trends and indicators across Arizona, with a particular focus on the Phoenix metropolitan area:
Key market trends
Cooling Market and Buyer Leverage: Metro Phoenix is experiencing a cooling period with increased inventory, more price reductions, and slower sales, favoring buyers.
Slower Sales and Cancelled Listings: Homes are taking longer to sell, leading to more properties taken off of the market as sellers face resistance to high prices. This trend is also seen in Tucson, where homes are on the market about 12 days longer than a year ago.
Inventory Expansion: Listings are increasing due to new construction and homeowners who are now listing their properties. Statewide inventory is expected to rise by 20–25% compared to 2023.
Modest Price Adjustments: Metro Phoenix has seen modest price growth (2–3% year-over-year), while Tucson has experienced slight declines (around 2.8%). This suggests a soft correction rather than a market crash. The median home sold price in Phoenix was $461,944 in July 2025, a 2.5% increase from last year.
Arizona Real Estate Market - July 2025 Overview
Statewide Trends:
In June 2025, there were 46,254 homes for sale in Arizona, up 20.0% year over year
The typical home value of homes in Arizona is $420,310. Arizona home values have gone down 6.8% over the past year
Arizona's housing market is booming 🚀. With 23% more inventory & stable prices, buyers get more deals & sellers benefit from high demand
The average months of supply is 4 months
Maricopa County (Phoenix & Scottsdale) Trends - July 2025
Phoenix Market:
There are 5,916 homes for sale in Phoenix, Maricopa County with a median price of $460,087, which is an increase of +1.3% since last year.
The Phoenix, AZ housing market is somewhat competitive, scoring 49 out of 100. The average Phoenix house price was $455K last month, up 0.7% since last year.
Homes are also staying on the market a bit longer, with properties going to pending in about 38 days.
Scottsdale Market:
There are 2,652 homes for sale in Scottsdale, Maricopa County with a median price of $892,821, which is an increase of +7.8% since last year.
Scottsdale's year-to-date median home price jumped 7.7% to $1.24 million so far in 2025, up from $1.15 million last year.
New listings increased 8.5% while pending sales slumped 7.4%. The number of closed sales, however, rose 5.8% over last year.
Pima County (Tucson) Trends - July 2025
Tucson Market:
The Tucson, AZ housing market is somewhat competitive, scoring 47 out of 100. The average Tucson house price was $333K last month, up 2.7% since last year.
There were 1,233 closings in June 2025, down 2% change from June 2024. Year-to-date 2025 there were 7,706 closings.
Median price of sold homes was $367,000 for the month of June.
Homes in Tucson had an average listing age of 74 days in Jun 2025, up by 8.8% compared to the previous month.
Overall, this data shows that Arizona's market is experiencing increased inventory with more moderate price growth compared to previous years, while Scottsdale continues to see significant appreciation in the luxury market, and Tucson remains the most affordable major market in the state.
Want More Information About Your Specific Situation?
Whether you're curious about your home's current value, thinking about buying, or want to understand how these trends affect your neighborhood specifically, I'm here to help. Contact me today for a personalized market analysis!
