June 2025 Market Update: Is the Arizona Market Slowing Down?

By Rachael Richards

Rachael has been a top real estate agent in the Phoenix area for over 20 years. She and her team are consistently in the top 1% and have worked through all types of markets. Selling over 200 homes each year while maintaining a core value that clients come first, Rachael and her team have a wealth of experience and industry knowledge.

There’s been a small but significant shift in our local housing market this month of June here in Arizona, and it’s something both buyers and sellers should keep an eye on. Prices got a bump in early June, but new data suggests that lift may not last. Whether you’re planning a move or just watching the trends, here’s what’s happening in the market right now:

Prices are up, but possibly not for long. As of June, the average sale price per square foot in the Valley is sitting around $300. That’s a 2% increase from mid-May and slightly stronger than most experts expected. The median sale price also nudged up from $446,990 to $450,000. It’s a positive sign, but it could be temporary.

Pending sales show early signs of softening. Current pending listings show an average list price per square foot of $319, which is down 1.4% from last month. When list prices start dipping, it often signals a possible slowdown in closed sale prices. We typically see this play out over a 4- to 5-week window, and that’s where we are now. The Cromford Report is forecasting that the average sale price per square foot will fall to the mid-$290s by July.

No signs of distress in the market. Despite these pricing shifts, pre-foreclosure activity remains at historically low levels. There is no spike in distressed sales, and overall market conditions remain stable. That means while prices may ease, there’s no sign of a crash or panic ahead.

Sellers need to adjust to short-term trends. If you’re planning to sell, don’t base your price on April or May numbers. Use the most recent data from the last 30 days. Even a small pricing mistake can cost you showings or offers in a softening market. Buyers are still active—but they’re doing their homework.

Understanding today’s numbers is the first step to making a smart move in your real estate journey. If you’re buying or selling this summer, you can call or text me at 480-270-5782 or email me at info@rhouserealty.com. I’d be happy to help you understand how these changes affect your timing, pricing, and next steps.