Metro Phoenix home sales posted a notable increase in March, signaling continued market resilience, even as broader economic and geopolitical uncertainty persisted. Phoenix REALTORS® data shows closed sales rose 10% month over month and 4.6% year to date compared to 2025.
“The March data reflects a market where buyers and sellers are still finding ways to get deals done,” said Sammy Glassman, board president, Phoenix REALTORS. “That continued activity points to a level of stability in the Greater Phoenix market, even as conditions continue to evolve.”
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While closed sales reflect continued momentum, forward-looking indicators suggest the market may be moderating in the months ahead. Pending sales dropped 27.9% in the one-month comparison and 8.4% year over year. New listings slowed by 3.8% compared to the first quarter of 2025.
Median sales prices were essentially steady, even with a year-to-date drop of 1.2% from $490,000 to $484,055 across the Valley. The steadiness increased the Housing Affordability Index to 74 in both month-over-month and quarter-over-quarter data. This means that 4.2% more families earning the metro-area median income can afford the metro-area median home. Median single-family home prices have declined every month since being flat in October, when compared to the previous year’s price.
Despite the drop in new listings, the Inventory of Homes for Sale increased 5.3% for the month, giving the market a 4.4-month supply of homes for sale, up 4.8% from February.
“Many expected overall sales activity in March to come in below typical levels,” said Sammy Glassman, board president, Phoenix REALTORS. “In reality, performance was more in line with historical trends, excluding the surge in 2022. We’re also seeing some sellers hesitate to enter the market or price more aggressively, combined with seasonal patterns and even early heat impacting listing activity.”
The number of days on the market, up 9.7% year-over-year, is slightly below the average set over the past 12 months. That average topped 80 from December 2025 until February before dropping to 79 for March.
Phoenix
Closed sales increased a modest 2.1% in Phoenix in the first quarter of the year-over-year comparisons. New listings dropped 6.9% and pending sales were down 13.6% for the same period. The median sales price had one of the largest drops in the Valley, down 4.1% to almost $480,000, while the number of days on the market increased by 6.2% to 69.
Scottsdale
With a 6.9% increase in closed sales, the median sales price for Scottsdale increased 3% to $1.29 million from $1.25 million last year. New listings were essentially unchanged, and pending sales dropped 5.8% for the first quarter this year compared to last. The number of days on the market increased 7.8% to 83.
Goodyear
For the Southwest Valley city, sales, pending sales and new listings were all down for the first quarter of 2026 compared to 2025. Goodyear home sales dipped 3.8%, listings 10.9%, and pending deals were down 9.1%. The median sales price was essentially flat, rising by less than 1% to $486,000 from $484,000 in the first quarter last year. Days on the market in Goodyear increased 8% to 81.
Peoria
The Northwest Valley is seeing increased activity with all the jobs being created in North Phoenix and northeast Peoria. Closed sales climbed 11.8% for the quarter, while new listings dropped 5.2% and pending sales slipped 7.2%. Days on the market rose 11% to 78. The median sales price was down slightly from $550,000 in 2025’s first quarter to $540,000 this year.
Surprise
Like its neighbor, Surprise showed increased activity. Sales were up12.7%, pending deals and new listings were both up 3.1%. The median sales price rose slightly, 1.2% to $435,000 from $430,000 in the first quarter last year. Days on the market were up significantly, to 88 days, a 14.3% increase.
Queen Creek
Homes sat on the market an average of 100 days in the first quarter in Queen Creek. The Southeast Valley city’s normally bustling market reversed, with sales down 2.9%, pending sales down 4.9%, and new listings down 7.5%. The median sales price dipped 2% to $665,000 from $678,000 in 2025.
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