Which Phoenix, Arizona Cities Are in a Buyer’s or Seller’s Market Right Now?

By Dave Zajdzinski

Dave Zajdzinski and the team bring 40 + years of real estate experience to home buyers and sellers throughout Arizona.

The real estate market in Phoenix is always shifting, and understanding which cities favor buyers or sellers can make all the difference. Looking at 17 key cities, some stand out as strong seller’s markets, while others present great buyer opportunities. Here’s everything you need to know.

Market Overview. Inventory is up 12% from last year, with 2,300 more active listings. However, homes under contract are not growing as fast. Last year, they increased by 24% around this time, but this year, the rise is only 13%.

With the holidays slowing sales and spring approaching, homes are selling faster. However, the growth rate is still 44% slower than last year. The market index shows how each city is performing. A balanced market falls between 90 and 110, with 100 being ideal. Numbers above or below indicate a buyer’s or seller’s market.

Top seller’s markets. Certain cities in Phoenix remain strong for sellers due to high demand, strong job markets, and desirable locations. The top seller’s markers are the following:

1. Chandler – Leading as the strongest seller’s market with a market index of 160.8. Homes in this area hold their value well, and sellers can still control negotiations if priced accurately.
2. Fountain Hills – With an index of 146.6, this city continues to be a highly sought-after area.
3. Paradise Valley (PV) – This city has seen a 23% increase in its market index over the past month with a market index of 144.6.
4. Tempe, Scottsdale, Gilbert, Phoenix, Glendale, Mesa, Avondale, Cave Creek, and Peoria – These cities also remain favorable for sellers, benefiting from central locations, good school districts, and strong demand.

In seller’s markets, homes are not selling in a single day, but those priced well can still attract competitive offers. Desirable areas closer to the city center tend to hold their value better than outer regions.

Top buyer’s markets. For buyers looking for deals, several cities provide better leverage due to lower demand and longer time on the market. If you’re looking to buy, you might want to consider these cities:

1. Buckeye – With a market index of 53, this city offers the best deals. Investors and buyers who are flexible on location may find great opportunities here.
2. Maricopa – This city has a market index of 53.5. However, it has dropped by 6% in the last 30 days, with builders offering significant incentives to buyers and agents.
3. Surprise – Sitting at an index of 68.4, this city has also seen a slight decline of 3%.
4. Queen Creek – With an index of 70.5, certain areas closer to the city may still hold value better than the outskirts.
5. Goodyear – At 78.7, this city rounds out the top five buyer’s markets.

In these markets, buyers have the upper hand in negotiations. However, sellers may still hold onto emotional value, making it important to approach offers strategically.

For buyers, the choice comes down to whether getting the best deal or securing the perfect home is the priority. Sometimes, a seller may not be willing to lower the price even in a buyer’s market. Knowing the market conditions can help set realistic expectations.

For sellers, staying informed about market trends can make a big difference in timing a sale. Understanding how the local market is shifting will help in making strategic decisions.

If you are interested in a specific ZIP code or neighborhood, real-time data can provide valuable insights. Monthly market updates track how these cities evolve, offering guidance for anyone considering buying or selling. If you have more questions, don’t hesitate to reach out. You can call me at 480-332-6468 or send an email to dave@zteamaz.com. I’m here to help you navigate the market!