Published : February 24, 2026 Data as of : February 19, 2026 Compared to : January 19, 2026 Coverage : Phoenix, AZ (city-level) • Source : Cromford® Daily Market Snapshot (Single Family Detached)
Phoenix • Arizona • Market Updates
February 2026 Phoenix Housing Market Update Phoenix, AZ — city-level snapshot for single-family detached homes.
Q: What’s happening in the Phoenix housing market right now?
A: As of February 19, 2026 seller-leaning with real negotiation : 3.3 months of supply (excluding UCB/CCBS), median monthly sold price $486,498 , days on market (sold) 77 days,
and an average sale-to-list of 96.94% .
What this means Negotiation: Homes are selling for about 96.94% of list price on average — roughly 3.06% under asking (home-by-home varies).How much is for sale: Inventory is about 3.3 months (excluding UCB/CCBS). In simple terms: buyers have choices , but it’s not a full buyer’s market.How long it takes: Recently-sold homes averaged 77 days on market; active listings average 85 days . Expect weeks, not days , unless the home is priced right and shows well.Pricing reality: The monthly sold $/SF is $331.78 and the active list $/SF is $384.18 . That gap is where price cuts and credits often live. This is a rolling snapshot (today vs the same date last month ) so buyers and sellers can track leverage shifts without waiting for month-end reporting.
Written by Andrea Scheppe , Phoenix native and REALTOR® with HomeSmart Elite, Valley Solutions Team.
Phoenix reality check: Inventory rose, but supply tightened slightly (3.5 → 3.3 months , excluding UCB/CCBS) while the median monthly sold price moved up ($467,500 → $486,498 ).
Sales/month rose (639 → 702 ) and pending rose (485 → 639 ), while average sale-to-list stayed in the high-96% range (96.87% → 96.94% ).
Monthly sold pricing per sq ft increased ($326.29 → $331.78 ).
Median sold price (monthly sales)
$486,498 UP ($467,500 → $486,498)
Inventory (months of supply, excl. UCB)
3.3 mo TIGHTER (3.5 → 3.3)
Speed (DOM, sold)
77 days FASTER (80 → 77)
Negotiation (avg sale price % of list)
96.94% FIRMER (96.87% → 96.94%)
Market call Market: SELLER-LEANING (MORE DEMAND THAN SUPPLY, BUT BUYERS NEGOTIATE)
Seller-leaning because Cromford® Market Index is 131.4 (over 100 is seller-leaning).
Negotiation is active because average sale price % of list is 96.94% .
Supply is 3.3 months. Even though active listings increased, months of supply fell because demand (sales/month and under-contract) rose..
Quick pulse vs last month (1/19 → 2/19 2,569 → 2,877 , pending 485 → 639 ,
under contract 847 → 1,183 , and sales/month 639 → 702 .
Pricing per sq ft (useful for “are we overpriced?”): Active list $/SF $378.72 → $384.18 ; Monthly sold $/SF $326.29 → $331.78 .
Buyer standings — February 2026 (what to do) Expect negotiation: Sale-to-list is 96.94% , so the average closing price is around 3% under ask (varies by home/area/condition).Use the $/SF gap: Active listings are averaging $384.18/sf , while monthly sold is $331.78/sf . That’s a signal that some asking prices are ahead of where buyers are closing .Target “stale” listings: Active DOM is 85 days. When a home has been sitting, that’s where price reductions, credits, or rate buydown contributions tend to show up.Still compete on the best homes: Phoenix is seller-leaning (CMI 131.4 ). Clean offers win on homes that are priced correctly and show well.Seller standings — February 2026 (what matters) You have the edge overall: CMI is 131.4 (seller-leaning), with 702 sales/month and 1,183 listings under contract.But buyers are not paying “any price”: Sale-to-list is 96.94% . Overpricing usually shows up as longer time on market and concessions .Price to the closing market: Buyers are closing around $331.78/sf (monthly sold), while the average active list is $384.18/sf . The closer you are to supported comps, the faster you sell.Execution matters: Listing success rate is 71.2% . Condition, photos, pricing, and showing access decide if you’re in the successful group.Notes & FAQ This is a rolling daily snapshot (today vs the same date last month), using Phoenix single-family detached metrics from the Cromford® Daily Market Snapshot.
It’s designed to answer “where do buyers and sellers stand right now?” without waiting for month-end reporting.
Quick definitions: Months of supply = “how much is for sale,” DOM = “how long it takes,” sale-to-list = “how much people negotiate,” and $ / SF = “price per square foot.”
What is Phoenix’s inventory right now?
About 3.3 months of supply (excluding UCB/CCBS) as of 2/19/26
Are buyers negotiating in Phoenix?
On average, yes: sale-to-list is 96.94% as of 2/19/26
Is Phoenix a buyer’s market right now?
No by Cromford® Market Index: it’s 131.4 as of 2/19/26
Open: Phoenix daily snapshot table (Today vs last month vs last quarter vs last year) Phoenix Daily Market Snapshot — Single Family Detached Metric Today (2/19/26 ) Same day last month (1/19/26 ) Last quarter (11/19/25 ) Same day last year (2/19/25 ) Active listings 2,877 2,569 3,003 2,912 UCB & CCBS listings 544 362 448 482 Active listings excl. UCB 2,333 2,207 2,555 2,430 Pending listings 639 485 549 602 Listings under contract 1,183 847 997 1,084 Sales per month 702 639 809 668 Days on market (sold) 77 80 77 73 Days on market (active) 85 94 89 79 Months of supply (excl. UCB) 3.3 3.5 3.2 3.6 Active listings $/SF $384.18 $378.72 $372.12 $383.31 Under contract $/SF $334.42 $333.12 $334.62 $332.88 Monthly sales $/SF $331.78 $326.29 $314.40 $331.53 Avg sale price % of list 96.94% 96.87% 97.16% 97.41% Listing success rate 71.2% 65.5% 67.9% 69.1% Monthly dollar volume $465M $421M $512M $432M Average price (monthly sales) $662,302 $658,384 $632,704 $646,512 Median price (monthly sales) $486,498 $467,500 $480,000 $489,950 Cromford® Market Index 131.4 138.1 107.9 115.9
Note: “months of supply” here is reported excluding UCB/CCBS inventory.
Disclaimer (method): This post uses the Cromford® Daily Market Snapshot for Phoenix single-family detached homes,
comparing 2/19/26 1/19/26 2/19/25
