As temperatures start to dip in the Valley, so too has the greater Phoenix residential real estate market cooled.
In September, a slowdown in sales continued due to higher mortgage rates, and the month brought a sharper slowdown in new contract activity, according to a monthly report from Phoenix Realtors.
Closed sales dropped 4.9%, and new listings dropped 3.7% in September this year compared to last year, and pending sales fell 40.1%, according to their monthly report.
From a national perspective, closed sales went down 1.2% in September, and greater Phoenix was down 4.9% for the month.
Nationally, inventory of homes for sale rose to its highest level in more than 10 years, up 5.9% from last year, according to the data. In the local region, inventory rose 6.7% despite fewer new listings coming to the market.
“September often marks the start of increased fall activity, but this year people are navigating more affordability pressure and rate uncertainty,” said Sammy Glassman, board president of Phoenix Realtors. “Buyers and sellers are still active, but when rates keep moving, it can cause people to pause before making a major financial decision.”
Here is a round up of the real estate market in the West Valley.
Peoria
Glassman said Peoria’s numbers point to a market experiencing a meaningful slowdown in buyer activity while inventory gradually builds.
Pending sales dropped 49.5%, and closed sales declined 19.5%, making the decline in demand one of the most notable trends in the data, while inventory increased 7.1% and month’s supply rose to 4 months, according to the report.
Pricing in Peoria, however, has remained relatively stable, she said.
“The median sales price declined 2.7% to $515,000 and the average decreased just 0.9% to $594,996. Sellers also received 98.6% of their asking price, an improvement of 0.8% from last year. That suggests buyers may have more negotiating leverage overall, but well-positioned homes are still selling relatively close to their final asking prices,” Glassman said.
Days on market decreased 6.2% to 76 days, another indication the market is not simply slowing across every measure, she said.
Homes that attract buyers appear to move somewhat faster, even as fewer transactions are occurring overall, Glassman added.
“For sellers, pricing and condition remain critical as buyers have more options,” she said. “For buyers, increasing inventory and slower overall sales activity can create opportunities to negotiate concessions or other favorable terms, particularly on homes that have been on the market longer.”
Goodyear
Jen Taege, vice president of the Board of Phoenix Realtors, said Goodyear’s housing market continues to feel the effects of slower buyer demand and competition from new construction throughout the West Valley.
Pending sales have declined 27.7% year over year, and closed sales are down 13.8%. With inventory increasing 4.7%, buyers have more options, leading to downward pressure on home prices which is evident in the data, she said.
Both median and average sales prices have declined, falling 5.2% and 4.3%, respectively, according to the monthly report.
But not all the data is showing negative trends Taege said.
“Despite this downward pressure, homes are selling 10% faster than a year ago, and sellers are receiving an average of 98.6% of their asking price, a slight improvement over last year,” she said. “For buyers, this data suggests that Goodyear remains an attractive option for those seeking newer homes that are affordable. For sellers that price competitively and properly prepare their homes, the data shows that they are attracting the buyers that are willing to make a move in this market.”
Litchfield Park
Taege said Litchfield Park’s overall picture is a market experiencing slower sales activity, but relatively stable pricing.
Pending sales have declined 29.8% year over year, and closed sales are down 12.7%, according to the report.
Taege said Litchfield Park’s median sales price has remained stable, declining 0.6%, while the average sales price has increased 6.7%.
“One factor that may contribute to this relative resilience is Litchfield Park’s mix of established neighborhoods, distinctive homes and higher-end properties. These characteristics can help differentiate portions of the market from newer home competition” Taege said. “It is worth mentioning that with only 55 closed transactions, a relatively small number of higher-priced sales can impact the median and average sales prices in a positive direction.”
She added that for buyers, supply remains high leading to meaningful choices and negotiating opportunities, and that for sellers, positioning their property well, pricing competitively and marketing strategically remain important strategies to attract ready and willing buyers.
Surprise
In September, new listings rose 5% in Surprise, up from a 2.7% year-to-date decline, according to the report.
While pending sales dropped 34.6% from last year, they rose 4.7% year over year for the month. Closed sales fell 9.2% in September from 2025, but rose 10.1% for the first three quarters of 2026 compared with the same period last year, the report said.
The median sales price of a Surprise home held steady at $430,990 during the first nine months of 2026 compared to the same period last year.
Avondale
Pending sales in Avondale dropped 34.9% in September compared to last year; closed sales fell 17.3% for the month, while new listings rose 6.8%, according to the report.
Comparing the first nine months of 2026 to 2025, closed sales were down 7.7%, pending sales were down 8.7%, and new listings rose 1.4%. The median home price in Avondale was steady, up 0.3% from $418,000 to $419,190.
Senior News Editor Philip Haldiman can be reached at phaldiman@iniusa.org, or on X @philiphaldiman. Please submit comments at yourvalley.net/letters or email them to AzOpinions@inusua.org. We are committed to publishing a wide variety of reader opinions, as long as they meet our Civility Guidelines.
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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