AriZona Real Estate insider!

By PhxCondosForSale.com, a proud contributor to Arizona Real Estate Insider.

As we move into spring, the Metro-Phoenix condo market continues to evolve. By comparing March 2025 data with February’s figures, we can observe subtle shifts and emerging trends across Phoenix, Scottsdale, Tempe, and Carefree.​

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Phoenix: Gradual Cooling Continues

• March 2025:
  • 📦 Months Supply of Inventory: 5.67
  • Median Days on Market: 53
  • Sold to List Price Ratio: 97.2%
  • Median Sold Price: $380,000​
• February 2025:
  • 📦 Months Supply of Inventory: 8.08
  • Median Days on Market: 62
  • Sold to List Price Ratio: 97%
  • Median Sold Price: $330,000

Analysis: The decrease in inventory from 8.08 to 5.67 months suggests a tightening market, while the reduction in days on market indicates quicker sales. The slight increase in the sold-to-list price ratio and median sold price points to sustained demand.​

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Scottsdale: Stability Amid High Demand

• March 2025:
  • 📦 Months Supply of Inventory: 5.77
  • Median Days on Market: 55
  • Sold to List Price Ratio: 97%
  • Median Sold Price: $615,000
• February 2025:
  • 📦 Months Supply: 8.75
  • Median Days on Market: 48
  • Sold to List Price Ratio: 97.7%
  • Median Sold Price: $597,250

Analysis: What’s Changed: Inventory eased off from 8.75 to 5.77 months, yet condos are taking a bit longer to sell and buyers are negotiating slightly more off list price. But pricing remains strong—up nearly $18K month-over-month. Balanced, but still leaning seller-favored for well-priced homes

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Tempe: Balanced Market with Steady Growth

• March 2025:
  • 📦 Months Supply of Inventory: 4.61
  • Median Days on Market: 49
  • Sold to List Price Ratio: 98.5%
  • Median Sold Price: $341,000​
• February 2025:
  • 📦 Months Supply of Inventory: 5.74
  • Median Days on Market: 54
  • Sold to List Price Ratio: 97%
  • Median Sold Price: $340,000​

Analysis: Tempe’s market shows signs of strengthening. The decrease in inventory and days on market, coupled with an increase in the sold-to-list price ratio, suggests a shift towards a seller’s market. The median sold price remains stable, reflecting steady growth.​

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Town of Carefree: New Insights

This month, we’re introducing Carefree into our analysis.​

• March 2025:
  • 📦 Months Supply of Inventory: 13.18
  • Median Days on Market: 31
  • Sold to List Price Ratio: 98%
  • Median Sold Price: $475,000​

Analysis: With a high months supply of inventory, the town of Carefree leans towards a buyer’s market. However, the relatively short days on market and high sold-to-list price ratio indicate that well-priced homes are still moving quickly.​

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🧠 Final Take

The March 2025 numbers reveal a few key trends:

• Inventory is shrinking across all three core markets compared to February, tightening up options for buyers.
• Prices are holding or rising, especially in Phoenix and Tempe, as demand remains steady.
• Buyers still have options, but sellers who price right are rewarded with quick, near-asking offers.

However, Carefree stands out with significantly higher inventory, creating a buyer’s market where deals could be found for those willing to navigate a bit more competition. If you’re looking for more flexibility or a better deal, Carefree might be the place to focus.

📰 Missed last month’s breakdown? Check it out here:
👉 Still Hot or Cooling Down? The Phoenix-Scottsdale-Tempe Condo Market Check-In for February