Greater Phoenix Real Estate Check In

Renters set the tone in "The Valley" right now. You can see it in pricing, timing, and the deals that pop up when moving slows down. Sales look steadier than the headlines suggest. Inventory is up, yet the market reads closer to balanced than it did. Here’s the clean, de-personalized run-through. In today's LUXE BLOG, we go over the latest Arizona real estate info.

Quick Points

• Rents run about $1.32–$1.36 per square foot

• Winter leasing slows, warmer months speed up

• Sale prices sit in the mid-$400Ks since mid-2023

• Inventory rose about 9.7% year-over-year

• Demand index moved from mid-70s to low-80s

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Rentals Set The Pace

Rentals move on a calendar. You feel it every year. Activity tends to pick up when people want to relocate with less hassle, then cools off once winter routines lock in. Recent data puts typical rent around $1.32–$1.36 per square foot. That’s a useful yardstick when you’re comparing neighborhoods, unit sizes, or lease terms. Incentives show up more often in large apartment communities than in one-off rentals. Those offers also show up more often in late fall through winter than during peak moving season.

• $1.32–$1.36 per square foot baseline

• Warmer months bring more leasing

• Winter brings more deal talk

• Big communities offer incentives more often

• Private landlords use fewer promos

If you’re shopping leases, timing matters as much as price. Look at total move-in cost, not just the headline rent. Ask what changes at renewal. Then decide fast if the numbers work.

Local Growth Signals Keep Rolling

Big-picture moves still shape housing talk, even without real estate jargon. In the East Valley, one regional airport hit a passenger milestone in 2025. It also reported major spending on improvements and added flight routes. That kind of investment tends to pull jobs, vendors, and housing demand over time. Population growth expectations in the East Valley stay pointed up. Downtown Phoenix also has a large multi-family high-rise plan that would add hundreds of units. More residents downtown fits the broader U.S. pattern of adding housing near job centers.

• East Valley airport hit a 2025 milestone

• Improvement spending kept flowing

• Added routes expand regional links

• Downtown Phoenix high-rise plan adds units

• Density push keeps showing up

These items won’t change your monthly payment tomorrow. They can shape where demand lands next. Watch follow-through, not buzz.

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Sale Prices Hold A Line

Sale pricing has stayed in a fairly tight band since mid-2023. The median sale price has generally sat in the mid-$400,000s. Earlier in the decade, prices rose fast, then cooled into a flatter range as mortgage rates climbed. Recently referenced mortgage rates sat in the 6% range, and that shows up in buyer math. Payments drive a lot of decisions, even when prices look steady. It also changes what sellers will accept, and how long listings sit.

• Median price stays in mid-$400Ks

• Early decade run-up cooled later

• Rates in the 6% range matter

• Affordability shapes offer pace

If you’re buying, focus on payment, not list price alone. If you’re selling, watch rate shifts week to week. The market reacts fast.

Inventory Rises While Balance Gets Closer

Supply moved up. Active inventory is up about 9.7% year-over-year, excluding certain contract statuses. At the same time, buyer activity indicators also rose. Pending listings are up about 3% year-over-year. Under-contract and contingent categories are up about 9.4%. A local demand index moved up year-over-year, from roughly the mid-70s to the low-80s. A referenced balanced-market range is 90–110, while the current reading sits in the high 80s, so conditions look closer to balanced than before.

• Active inventory up about 9.7% YoY

• Pending up about 3% YoY

• Under-contract & contingent up about 9.4%

• Demand index rose into low-80s

• Balanced range 90–110, current high-80s

Contract labels can confuse people, so here’s the plain meaning. Contingent means a deal depends on a condition, often a home sale. Under contract accepting backups means a contract exists, yet backups can line up. Pending means the deal cleared early hurdles and is moving toward closing.

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