April 2025 Real Phoenix Real Estate Market Update

The three types of markets...

Recently I attended a Phoenix Real Estate Market update for April 2025 hosted by The Cromford Report. A wide variety of topics were discussed including the current state of the market, appreciation, demand and interest rates. 

We also went over the three types of real estate markets; Seller's Market, Balanced Market and Buyer's Market. And believe it or not we are in all three of these types of markets... depending on where you live.

A Seller's Market is where there is more demand vs supply. Phoenix, Scottsdale and Tempe are just three of the 10 areas currently in a Seller's Market.

A Balanced Market is where there is equal demand between Buyers and Sellers. Glendale, Mesa and Peoria are just three of the six markets that are currently in balance.

Finally a Buyer's Market is where there is more supply vs demand and Buyer's are in control. The Phoenix Metro ... aka "The Valley" has 13 Buyers Market Cities including Goodyear, Suprise and the age restricted committees of Sun City and Sun City West.

Month over month changes...

The Cromford Market Index reports month over month changes by city. So if you are looking to Sell your home and you are in the seven cities currently in a Seller's Market (Chandler, Scottsdale, Paradise Valley, Gilbert, Tempe, Fountain Hills and Phoenix), then GOOD NEWS, you are in control as demand is higher vs supply.

If you are looking to Buy a home and want to closing costs or fees paid by the Seller (Buyer Broker Compensation Fee, Lender Fees, Title Fees etc...)  then consider purchasing in Goodyear, Queen Creek, Surprise, Buckeye or Maricopa as these cities are currently in a Buyer's Market.

Keep in mind that the market changes weekly and there is no guarantee that Seller's will take a lower offer or pay the closing costs you are ultimately responsible for as a Buyer.

Home appreciation in the Phoenix area April 2025...

I hear all the time "home prices are to high", and "interest rates are to high". That maybe true, but it all depends on your perspective and timeline. According to the Monthly Median Sales Price chart above,  prices are exactly where they should be. Home prices in the Phoenix area, on average appreciate between 3% and 5% per year (depending on the area and quality of home). Just like the stock market home prices have fluctuated over the years, but ultimately go up as the price of materials to build homes goes up.

Just like the saying when planting trees... the same is true for real estate... The best time to buy a home is NOW, the second best time was 10 years ago! Stop renting and become your own landlord, build equity over the next 5, 10 or 15 years, before home prices double!

If you are looking to make a move (buying or selling) call or text me today: DONALD KEYS Selling Homes Since 2006 HomeSmart (602) 750-1744 I will be happy to take care of you :)