AriZona Real Estate insider!

🔥 Phoenix just hit 100 degrees… in February. Normally, we don’t see triple digits until May, but this market—and the weather—has a mind of its own. So, is the condo market still burning hot, or are we seeing signs of a cooldown? Let’s break it down.

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🏙️ Phoenix: More Inventory, More Choices

🔹 8.08 months’ supply – Inventory has jumped 107.18% from last year. More options for buyers!
🔹 62 days on market – Homes are still moving, but a little slower than before.
🔹 97% sold-to-list price – Sellers are holding strong, but some negotiations are happening.
🔹 $330,000 median price – Phoenix remains one of the more affordable condo markets.

📉 Analysis: Buyers now have more choices, but sellers still aren’t slashing prices. Expect a more balanced market in the coming months.

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🌵 Scottsdale: Demand Stays Strong

🔹 48 days on market – Still moving fast.
🔹 97.7% sold-to-list price – Sellers remain in control.
🔹 $597,250 median price – High demand keeps prices elevated.

📈 Analysis: Scottsdale continues to attract buyers. If you’re buying, be ready to act fast. If you’re selling, you’re in a solid position—for now.

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🏫 Tempe: Market in Transition

🔹 5.74 months’ supply – Up 152.86% year-over-year, a major shift.
🔹 54 days on market – Steady, but inching upward.
🔹 97% sold-to-list price – Prices remain stable.
🔹 $340,000 median price – Affordable, but rising.

📊 Analysis: Tempe is shifting toward a buyer’s market, but demand is still solid. If inventory keeps climbing, buyers may get better deals soon.

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🎉 Bonus: Fountain Hills – Buyers’ Market Alert?

🔹 10.6 months’ supply – More condos than buyers.
🔹 109 days on market – Longest time-to-sell in this report.
🔹 98.4% sold-to-list price – Surprisingly, sellers are still getting close to asking price.
🔹 $393,750 median price – Prices remain attractive.

📉 Analysis: If you’re a buyer, this is your playground—lots of choices and time to negotiate. Sellers should be pricing aggressively to stand out.

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📌 Key Takeaways

✅ Buyers: More inventory means more options, especially in Phoenix and Fountain Hills. Scottsdale remains competitive, and Tempe is shifting in your favor.
✅ Sellers: The market isn’t crashing, but you need the right pricing strategy. Overpricing = longer time on market.

🔥 Whether it’s the weather or the market, things are heating up early this year. If you’re thinking about buying or selling a condo, townhome, loft, or penthouse, let’s strategize now before the real summer rush hits!

visit PhxCondosForSale.com for expert insights and the latest condo listings!