As we wrap up the year, it’s time to take a deep dive into the December condo market in Phoenix, Scottsdale, and Tempe. Whether you’re a buyer looking for a deal or a seller trying to position your property competitively, these numbers give you a glimpse into what’s happening and what to expect as we head into the new year.
Phoenix Condo Market Update
- Months Supply of Inventory: 6.28
- 12-Month Change in Inventory: +121.13%
- Median Days on Market: 55
- List to Sold Price Percentage: 97.9%
- Median Sold Price: $330,000
Phoenix has seen a dramatic increase in inventory, up 121.13% year-over-year. This shift indicates that buyers now have more options, and sellers may need to adjust their expectations. However, with homes still selling in 55 days and at 97.9% of their list price, demand remains steady. The key takeaway? Pricing your property correctly is more crucial than ever as we transition into 2025.
Scottsdale Condo Market Update
- Months Supply of Inventory: 6.79
- 12-Month Change in Inventory: +94%
- Median Days on Market: 61
- List to Sold Price Percentage: 96.8%
- Median Sold Price: $520,000
Scottsdale continues to be a higher-priced market, but inventory is rising (+94%), shifting it toward a more balanced or buyer-friendly market. With a median sold price of $520,000, sellers should stay competitive by ensuring their properties are well-presented and priced realistically. Homes are taking slightly longer to sell (61 days), so patience and strategic marketing will be key in 2025.
Tempe Condo Market Update
- Months Supply of Inventory: 4.24
- 12-Month Change in Inventory: +106.83%
- Median Days on Market: 59
- List to Sold Price Percentage: 98%
- Median Sold Price: $380,000
Tempe remains a dynamic market, with inventory increasing by 106.83% over the past year. Despite this, homes are selling quickly (59 days on market) and close to asking price (98% of list price). With a median sold price of $380,000, buyers should expect a competitive market, while sellers still have a solid opportunity to secure strong offers—especially with strategic pricing.
What to Expect in 2025?
Looking ahead, the Phoenix metro condo market is showing signs of shifting toward buyers, with rising inventory and longer selling times. However, sellers who price competitively and present their properties well will still find willing buyers. Here’s what to watch for:
- More Negotiation Power for Buyers – Increased inventory means more choices and leverage in negotiations.
- Pricing Strategy is Key for Sellers – Overpricing could lead to longer market times, while well-priced properties will continue to move.
- Interest Rates & Economic Conditions – These will play a major role in buyer confidence and market trends.
- New Construction & Investment Opportunities – Keep an eye on new developments and investor activity, especially in growing areas like Tempe.
PhxCondosForSale.com Take: The condo market in the Phoenix metro area is shifting towards a buyer’s market. Buyers should see increased inventory and greater negotiation power, making it possible to snag excellent deals with patience and strategic negotiation. Sellers, on the other hand, should remain realistic in their pricing strategies. While units will sell, it may take some time. For those looking to save money on listing fees, we offer starting listing fees starting at 1.75%. Here’s what you get…
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