Staff Reports | Communtiy Updates
Greater Phoenix home sales increased in March, indicating continued market activity despite broader economic and geopolitical uncertainty.
Closed sales across the region rose 10% month over month and were up 4.6% year to date compared with 2025, according to a press release.
“The March data reflects a market where buyers and sellers are still finding ways to get deals done,” said Sammy Glassman, board president of Phoenix REALTORS. “That continued activity points to a level of stability in the Greater Phoenix market, even as conditions continue to evolve.”
While closed sales showed momentum, several forward-looking indicators pointed to potential moderation in coming months. Pending sales declined 27.9% month over month and were down 8.4% year over year. New listings also slowed, falling 3.8% compared with the first quarter of 2025.
Median home prices across the Valley remained relatively steady, despite a year-to-date decline of 1.2%, from $490,000 to $484,055. That stability improved the housing affordability index to 74 in both month-over-month and quarter-over-quarter measures, allowing an estimated 4.2% more households earning the metro-area median income to afford the median-priced home. Median single-family home prices have declined each month since October, when prices were flat compared with the prior year.
Inventory levels rose despite fewer new listings. The number of homes for sale increased 5.3% for the month, bringing the supply to 4.4 months, up 4.8% from February.
“Many expected overall sales activity in March to come in below typical levels,” Mr. Glassman said. “In reality, performance was more in line with historical trends, excluding the surge in 2022. We’re also seeing some sellers hesitate to enter the market or price more aggressively, combined with seasonal patterns and even early heat impacting listing activity.”
The average number of days on the market rose 9.7% year over year but remained slightly below the 12-month average. Days on market exceeded 80 from December 2025 through February before declining to 79 in March.
Phoenix
Closed sales in Phoenix increased 2.1% in first-quarter year-over-year comparisons. New listings declined 6.9%, while pending sales fell 13.6%. The median sales price dropped 4.1% to nearly $480,000, one of the larger declines in the region, and days on market increased 6.2% to 69.
Scottsdale
Scottsdale posted a 6.9% increase in closed sales for the quarter, while the median price rose 3% to $1.29 million from $1.25 million a year earlier. New listings were essentially unchanged, and pending sales declined 5.8%. Days on market increased 7.8% to 83.
Goodyear
Home sales, pending sales and new listings all declined in Goodyear during the first quarter compared with 2025. Sales fell 3.8%, new listings dropped 10.9% and pending transactions declined 9.1%. The median sales price edged up by less than 1% to $486,000. Days on market increased 8% to 81.
Peoria
The Northwest Valley saw increased sales activity, with closed sales rising 11.8% for the quarter amid regional job growth. New listings declined 5.2%, and pending sales decreased 7.2%. The median sales price slipped to $540,000 from $550,000 a year earlier, while days on market increased 11% to 78.
Surprise
Surprise experienced higher overall activity, with closed sales increasing 12.7%. Pending sales and new listings both rose 3.1%. The median sales price increased 1.2% to $435,000, and days on market rose significantly, up 14.3% to 88 days.
Queen Creek
Queen Creek’s market softened during the first quarter, with homes averaging 100 days on the market. Closed sales declined 2.9%, pending sales fell 4.9% and new listings dropped 7.5%. The median sales price decreased 2% to $665,000 from $678,000 in the first quarter of 2025.
