PHOENIX METRO AREA: October Market Update

October Market Update:

More listings, slower sales, and firmer prices — October reflects a market still favoring buyers, but one that rewards preparation and patience.

As we move through October, the Phoenix, Scottsdale, and Paradise Valley markets continue to show a steady build-up of inventory paired with slower-moving sales. Active listings have climbed to their highest levels in years, while the pace of new contracts has improved slightly. Buyers are out there — but they’re deliberate, taking time to compare options and negotiate value.

Despite the slower tempo, prices held firm in all three cities. Phoenix’s median price ticked up to around $490K, Scottsdale pushed just above $1M, and Paradise Valley jumped to roughly $3.4M. That’s a sign that well-presented, accurately priced homes are still finding success, even as days on market stretch longer and months of supply move toward balanced territory.

Sellers are feeling the effects of this new reality. Homes are taking longer to sell, negotiations are more common, and price reductions are back on the table. Presentation is everything — buyers are gravitating toward listings that are move-in ready, well-maintained, and picture-perfect online. Entering the market with clear expectations and patience is key.

For buyers, this remains one of the most favorable environments we’ve seen in years. With more choices, less competition, and sellers increasingly open to concessions, the opportunity to secure value is real. If interest rates ease later this year or into 2026, we could see a surge of pent-up demand — meaning this window to negotiate could narrow quickly.

Whether you’re buying or selling, let’s connect and create a strategy that positions you for success in today’s evolving market.