Big shift this week: More houses on the market! - Arizona Housing Market Update

Did you know that the Chandler housing markets still favor the sellers, but buyers like you are getting more options? Right now, there are about 3.61 months of inventory. That is actually up 7% from last month and 42% from last year. Translation, more homes to choose from when you're searching for your first place.

Homes are selling for about 97.88% of list price, which means you may have a little room to negotiate, just not too much. On average, they are staying on the market for 37 days, so you got some breathing room, but don't wait too long for the good ones. Now, here's the big number. The median sold price in Chandler is $547,000.

The number of supplies of houses in Arizona as of today start coming back. We are now on an average of 2,200 new homes per week. This is the level that we haven't seen since May 2025. To put this into perspective, this number is up 6.4% compared to last September, and a huge jump up to 29% compared to September 2023. About half of these new listings arrived just before the weekend.

As a home buyer, this gives you a lot of options for priming the show time. Perfect for showing time. This increase in supply could be enough to reverse the recent downtrend in comfort supply index. That means it's more and more difficult for the seller to sell their house, because there's more and more competition on the market.

As you know, the interest rate has been dropping since three weeks ago, but it's not just bringing more buyers. My theory is this, because those are the sellers that have been stuck in a low interest rate for such a long time, and they still want to move up. A lot of people want to move up or move down, but they're stuck with a low interest rate, and they don't want to get rid of that. Therefore, they've been waiting. Now, as the interest rate goes down, there's a chance for them to buy, and that's the reason why they're ready to sell.

As for the closing, in August closing, we have about 5,875 close to attraction. That is actually down 1.5% from August of last year - 2024, and down 3.8 percent from July of 2025, breaking it down a little bit for you.

For 1,308 closing, that is down 10% compared to last year, but nearly up 4% from July. In the other hand, about the resale homes, 4,567, such a nice number, right? 4,567 closing. That is up actually 1.3% compared to previous year, but down 5.8 percent month to month.

Price is actually holding steady with a little difference between the two. Median sold price for the entire Phoenix area is 475,000. That is actually up 1.1% from last year and slightly higher than July. New home, in the other hand, 535, almost 535,000. That is up 4.2% year over year and also 0.6% from July.

So in contradictory with a lot of people about home price actually goes down. As you see, every single number indicates that the home price actually goes up, especially for new home, 4.2% compared to previous year. The reason? A lot of builders providing good incentives. We're talking about 3% interest rate, 4% interest rate, 6% in closing cost concession. Even somewhere, they do 10% in closing cost concession.

What about the median sale price of the resale home?. It's only 450. Pretty much doesn't change compared to last year. But for context, the resale median peaked at 486 back in May 2022. And that since then, it's already dropped about 7.4% since then. And that's converting to about $36,000 dropped since May 2022. The new home median hit it high in January of 2025 at about 540. And now it's only a little bit like slightly dropped of 535. Showing the builder are holding the ground.

Let's talk about the national level. The first thing that we are going to look at is the inflation level. The federal reserve wants inflation that is closer to 2 to 2.9% target. But right now it's still above that level, okay? About 2%. Now it's still at 2.9%. It's still a limit above and that trend has been above the target for since 2023.

What about unemployment? Unemployment rate right now is at 4.2%. Which is historically strong, okay? And signal for the overall job market hasn't collapsed. In the other hands though, the number of jobs growth is actually not so great, okay? It's only grow like below 100,000, 100,000. It's only like 90 or 80,000, okay? It hasn't been increased a lot, okay?

So what does everything mean for the buyer and the seller, okay? Number one, for seller, more inventory is heating the market right now, and that's typical for this time of the year, September or October, okay? Which means there are more choice and potentially more negotiation, okay? More choice for the buyers.

More inventory is heating on the market, which means there's more choice, okay? And potentially more negotiation power for you, okay? For the seller, price are stable, but the supply is claiming, okay? More inventory. Standing out at the right price, presentation is a key. Prepare the house better.

Giving concession, those are the things, giving home warranty, those are the things that make the home better for the buyers, okay? Make it more easy for the buyers. Mimic the strategy that the builders, home builders do so that you can sell your house easy and faster as well."