February 2025 Market Update

February Market Update: Shifting Tides in Phoenix Real Estate

The Phoenix housing market is kicking off February with some notable shifts. While prices are holding steady, we’re seeing a big jump in the number of homes for sale. Buyers now have more options, which means sellers need to be more strategic than ever.

A Changing Market for Sellers

If you’ve been thinking about selling, it’s important to know that the market is more competitive than it was a year ago. More homes on the market mean buyers can take their time and be selective. Pricing your home correctly and making it stand out with the right marketing approach will be key to attracting serious offers.

More Opportunity for Buyers

For buyers, this is the best market we’ve seen in a while in terms of selection. Inventory is up, and while interest rates are still hovering around 7%, there are creative financing options that can help make homeownership more affordable. If you’ve been holding off, now might be the time to take advantage of increasing choices and potential seller incentives.

The Luxury Market Is Defying Trends

At the high end, the market is in its own world. Million-dollar homes are selling at an unbelievable pace, with nearly 300% more $6M+ home sales than this time last year. Unlike the broader market, luxury buyers aren’t as affected by mortgage rates—they’re watching the stock and crypto markets instead.

What’s Next?

We’re in an adjustment period. More homes are hitting the market, but demand hasn’t quite caught up. If you’re a seller, pricing and presentation matter more than ever. If you’re a buyer, this is a window of opportunity before competition picks up again.

Have questions about how to navigate this shifting market? Let’s chat! Whether you're thinking about buying, selling, or just want to understand what’s happening, I’d love to connect. Contact us today to discuss your real estate goals and make the most of the current market conditions.