However, more people closed on single-family homes so far this year than in the same 10-month period last year, according to a report from Phoenix Realtors.
Closed sales rose 0.8% through October. However, closed deals last month plummeted 17.9% compared to a year earlier, said Sammy Glassman, board president of Phoenix Realtors.
Pending sales slipped 4% year to date, and new listings were down 2.2% compared to the same period last year. In October alone, pending deals fell 45.9%, and new listings slumped 9% compared to last year, the report says.
“Results through October are not too bad compared to last year,” Glassman said. “Single-family home sales took a big hit for the month. Interest rates, economic concerns and the upcoming election all combined to make it a tough month.”
Median sales price so far this year in Greater Phoenix remains flat at $480,000 when comparing through the end of October last year. The median price was down 1% compared to October 2025.
During the month, homes in the Valley sold slightly faster, with days on market dropping from 79 in 2025 to 76 this year. The percent of list price received held at 98%, about the same level for most of the last two years in Greater Phoenix.
The affordability index dropped from 76 to 70 through October this year compared to the same 10 months last year, the report says. An index of 70 means the median household income is just 70% of the income needed to qualify for a median-priced home.
Glassman said that despite rising wages and steady home prices, high mortgage rates remain a barrier to affordability.
“Buyers have more homes to choose from, and prices have remained relatively steady, but affordability continues to be a significant hurdle,” Glassman said. “Having more choices only helps if families can qualify for the mortgage.”
The 23,044 homes in inventory in Greater Phoenix reflect a 10.6% increase in choices compared to October last year. This kicks the months supply up from 4.1 in 2025 to 4.6 months this year, Glassman said.
Peoria
With year-to-date numbers, Peoria saw homes close at a pace 2.6% faster than in 2025, with pending sales dipping 3.2% and new listings slipping 1.2%. The median price of a Peoria single-family home was flat, rising just 0.2% to $530,000 from $529,000 last year. Glassman said days on the market in Peoria held steady this year at 73, the same as last year.
Glassman said it is notable this month how sharply sales activity slowed while prices held relatively steady in Peoria.
Just 108 homes went under contract, down 45.5% from October 2025, according to the Phoenix Realtors report.
Closed sales also fell, down 14.5% to 159. Yet the median sale price was $515,000, less than 1% below a year earlier, and homes that sold received 98.2% of their list price, the same as last October.
Buyers also had more homes to choose from, even though fewer came onto the market, Glassman said.
New listings fell 9.4% to 278, while the number of homes for sale rose 18.8% to 937. At the prevailing sales pace, that represented 4.6 months of supply, up from 3.8 months a year earlier, she said.
“For buyers, the wider selection gives them more room to compare homes and weigh asking prices against recent sales,” Glassman said. “For sellers, the homes already on the market matter as much as the ones that recently sold. With homes taking 75 days on average to sell, nearly the same as last October, pricing against today’s competition is especially important.”
Goodyear
Goodyear is seeing a notable slowdown in buyer activity, with pending sales down 45.3% year over year.
Jen Taege, vice president of the board of Phoenix Realtors, said inventory has increased 14.8%, giving buyers more options and negotiating power today than October of last year.
“For sellers, pricing has remained stable year over year but strategic pricing and strong marketing are increasingly important as the homes on the market compete for a smaller buyer pool.”
Litchfield Park
Taege said Litchfield Park is experiencing a significant drop in sales activity, with pending sales down 43.1%.
“However, inventory growth remains modest, days on market have decreased, and median prices are holding steady. Well-positioned homes continue to find buyers despite a slower market,” Taege said.
Avondale
New listings increased slightly (2.1%), but closed deals dropped 8.4% and pending sales were down 6.7% in Avondale, according to the report. The median home price was flat, rising 0.1% to $419,340 compared to the first 10 months of last year. Days on the market rose to 81 from 77.
Buckeye
Buckeye saw closed single-family home sales increase 6.6% so far this year compared to last year. New listings also rose 1.6%, but pending sales were flat, down 0.5% from last year, according to the report. The median home price in Buckeye dropped 2% to $400,000 from $408,000 last year, while days on the market rose from 81 to 86.
Meet Philip Haldiman is an award-winning journalist who most recently took first place for investigative reporting in 2023 from Arizona Newspapers Association. He joined Independent Newsmedia, Inc., USA, in 2015, covering Sun City West his first year. Since 2016, he has covered the city of Peoria. Prior to coming to INI, he was a reporter with The Arizona Republic for seven years, covering numerous cities throughout the Valley. Before that, he was a freelance writer.
Community: Haldiman spearheads the Peoria Independent Hometown Heroes Awards program, honoring local individuals and businesses that give back to the community. He has hosted local candidate forums over the years and is a member of the Society of Professional Journalists. Haldiman also served as a member of the Journalism Program Community Advisory Board at Glendale Community College. Outside journalism, Haldiman served as a member of the city of Peoria Complete Count Committee for the Census, 2019-2020. Lastly, he has served as a member of his HOA governing board since 2021.
Education: Arizona State University with a BA in Journalism and Mass Communications and a BA in Theater.
Random Fact: Haldiman is a fourth-generation Arizonan as well as wrote and produced an autobiographical comic book about his time spent in Hollywood and his life as a cult film star.
Hobbies: He enjoys hiking Arizona’s mountainous landscapes and is currently working on a play for the stage.
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