Published: | Data as of: | Compared to: | Coverage: Phoenix, AZ (city-level) | Source: Cromford® Daily Market Snapshot (Single Family Detached)
Phoenix • Arizona • Market Updates
Phoenix Housing Market May 2026
Phoenix, AZ - city-level snapshot for single-family detached homes.
Q: What's happening in the Phoenix housing market right now?
A: As of , Phoenix is seller-leaning with steady market conditions: 2.6 months of supply (excluding UCB/CCBS), median monthly sold price $500,000, days on market (sold) 66 days,
and an average sale-to-list of 97.19%.
What this means
- Negotiation: Homes are selling for about 97.19% of list price on average - roughly 2.8% under asking, though it varies by home and neighborhood.
- How much is for sale: Inventory sits at 2.6 months (excluding UCB/CCBS). That's lean - sellers hold the upper hand across most of the city.
- How long it takes: Recently-sold homes averaged 66 days on market; active listings average 80 days. Homes priced and prepped correctly move faster than the average suggests.
- Pricing reality ($/SF): Monthly sold $/SF is $328.22 while active list $/SF is $374.49. That spread is where negotiations and price adjustments happen.
This is a rolling snapshot (today vs the same date last month) so buyers and sellers can see where leverage sits right now, not at month-end.
Written by Andrea Scheppe, Phoenix native and REALTOR® with HomeSmart Elite, Valley Solutions Team.
Phoenix reality check: Active listings ticked up slightly (3,060 → 3,098) while months of supply held flat at 2.6 month-over-month.
Sales per month came in essentially even (983 → 982) under-contract listings climbed (1,171 → 1,245), showing sustained buyer engagement.
Median monthly sold price moved up from last month ($490,000 → $500,000), matching the level shown two years ago in this snapshot.
The Cromford® Market Index sits at 127.7, down just slightly from 128.3 last month but well above the 100 threshold that marks seller territory.
Median sold price (monthly sales)
$500,000 UP ($490,000 → $500,000)
Inventory (months of supply, excl. UCB)
2.6 mo FLAT (2.6 → 2.6)
Speed (DOM, sold)
66 days FASTER (67 → 66)
Negotiation (avg sale price % of list)
97.19% SOFTER (97.49% → 97.19%)
Market call
Market: SELLER-LEANING (CONDITIONS HOLDING STEADY)
Seller-leaning because Cromford® Market Index is 127.7 - anything over 100 favors sellers.
Supply held flat at 2.6 months (excluding UCB/CCBS), keeping inventory lean across most of the city.
Sale-to-list softened slightly to 97.19% - buyers are getting a touch more room than last month, but it's not a shift in control.
Pulse vs last month ( → ):
active listings 3,060 → 3,098, pending 639 → 688,
under contract 1,171 → 1,245, and sales/month 983 → 982.
Pending and under-contract counts are up - the pipeline is loaded even as closed sales ran flat for the month.
Pricing per sq ft: Active list $/SF $376.84 → $374.49; Monthly sold $/SF $329.75 → $328.22; Under contract $/SF $337.10 → $325.37.
All three measures eased slightly month-over-month while median sold price moved up - that reflects a mix shift toward more mid-range sales closing this month.
Buyer standings - May 2026 (what to do)
Here is the buyer takeaway for May 2026 and what matters if you're buying in Phoenix right now.
- A little more room to negotiate: Sale-to-list dipped to 97.19% - buyers are getting about 2.8% off ask on average, slightly more than last month.
- Use the $/SF spread: Active list is $374.49/sf vs monthly sold $328.22/sf. If a listing's price per sq ft is running well above closed comps, that gap is your negotiating anchor.
- Time is some leverage: Active DOM is holding at 80 days. Listings sitting longer are where concessions and price reductions tend to show up.
- Under-contract count is rising: Contracts climbed to 1,245 from 1,171. The well-priced homes are moving - don't assume everything will sit.
- CMI says sellers still hold it: At 127.7, the market index is solidly in seller territory. Come prepared, preapproved, and knowing your number.
Seller standings - May 2026 (what matters)
- Median price is back at $500,000: Monthly sold median climbed from $490,000 last month. That's the strongest monthly reading since last year.
- CMI at 127.7 - seller territory: Conditions favor you, but it doesn't mean any price flies. The gap between list $/SF ($374.49) and sold $/SF ($328.22) shows that overpriced homes still sit.
- Negotiation widened slightly: Sale-to-list moved to 97.19%. Sellers priced at supported comps are still giving back well under 3% - sellers priced too high are giving back considerably more.
- Listing success rate is 74.0%: About 1 in 4 listings don't close. Photos, preparation, pricing, and showing access are the variables you control.
- Supply is flat and lean at 2.6 months: No new wave of competition hit the market this month. If your home is priced and presented well, you're in a good position.
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 answers "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 2.6 months of supply (excluding UCB/CCBS) as of .
Are buyers negotiating in Phoenix?
Modestly. Sale-to-list is 97.19% as of - about 2.8% under ask on average.
Is Phoenix a buyer's market right now?
No. The Cromford® Market Index is 127.7 as of , which puts it in seller territory.
What is the median home price in Phoenix right now?
The median monthly sold price for single-family detached homes is $500,000 as of .
Open: Phoenix daily snapshot table (Today vs last month vs last quarter vs last year vs 2 years ago)
Phoenix Daily Market Snapshot - Single Family Detached
| Metric | Today () | Same day last month () | Last quarter () | Same day last year () | 2 years ago () |
|---|
| Active listings | 3,098 | 3,060 | 2,851 | 3,371 | 2,377 |
| UCB & CCBS listings | 557 | 532 | 508 | 536 | 547 |
| Active listings excl. UCB | 2,541 | 2,528 | 2,343 | 2,835 | 1,830 |
| Pending listings | 688 | 639 | 616 | 640 | 652 |
| Listings under contract | 1,245 | 1,171 | 1,124 | 1,176 | 1,199 |
| Sales per month | 982 | 983 | 722 | 996 | 931 |
| Sales per year | 10,078 | 10,067 | 10,100 | 9,951 | 9,716 |
| Days on market (sold) | 66 | 67 | 77 | 66 | 55 |
| Days on market (active) | 80 | 80 | 86 | 76 | 65 |
| Days inventory excl. UCB | 92 | 92 | 85 | 104 | 69 |
| Months of supply (excl. UCB) | 2.6 | 2.6 | 3.2 | 2.8 | 2.0 |
| Active listings $/SF | $374.49 | $376.84 | $381.87 | $379.36 | $371.00 |
| Under contract $/SF | $325.37 | $337.10 | $332.44 | $331.01 | $333.81 |
| Monthly sales $/SF | $328.22 | $329.75 | $328.14 | $306.83 | $326.04 |
| Annual sales $/SF | $319.10 | $317.09 | $316.79 | $321.20 | $313.85 |
| Avg sale price % of list | 97.19% | 97.49% | 97.13% | 97.61% | 97.96% |
| Listing success rate | 74.0% | 75.2% | 71.8% | 73.8% | 79.1% |
| Monthly dollar volume | $647M | $646M | $467M | $591M | $614M |
| Annual dollar volume | $6,456M | $6,387M | $6,409M | $6,331M | $6,022M |
| Average price (monthly sales) | $659,268 | $657,130 | $646,462 | $593,134 | $659,803 |
| Median price (monthly sales) | $500,000 | $490,000 | $478,700 | $460,000 | $500,000 |
| Median price (annual sales) | $480,000 | $477,500 | $480,750 | $485,000 | $479,000 |
| Average SF (monthly sales) | 2,009 | 1,993 | 1,970 | 1,933 | 2,024 |
| Contract ratio | 49.0 | 46.3 | 48.0 | 41.5 | 65.5 |
| Cromford® Supply Index | 66.4 | 64.2 | 57.5 | 71.7 | 45.8 |
| Cromford® Demand Index | 84.8 | 82.3 | 76.4 | 75.5 | 68.8 |
| Cromford® Market Index | 127.7 | 128.3 | 132.9 | 105.3 | 150.3 |
Note: "months of supply" is reported excluding UCB/CCBS inventory. LT column = long-term average benchmark.
Disclaimer (method): This post uses the Cromford® Daily Market Snapshot for Phoenix single-family detached homes,
comparing against the same-day snapshot from (and prior periods where shown). Numbers can shift as listings status-change and sales record.
Verify current conditions for time-sensitive pricing or offer decisions.
