How long do homes take to sell in Phoenix?

Homes in Phoenix are taking about 64 days to sell right now. This is largely unchanged from what we saw over the past year. The price of homes has dipped a little, with the median listing price around $489,500. This is a small drop of 1.7% from the prior month and 5.9% compared to last year. Even though prices are down, there are fewer homes on the market. We have about 18,728 active listings, which is 3.4% less than a year ago. However, more new homes are coming up for sale, with a 6.6% increase in new listings over the past year. Almost 29% of homes have had their prices lowered. This is a bit less than last year, suggesting that while sellers are still adjusting prices, slightly fewer are doing so now. If you're looking to buy, homes are staying on the market for a little over two months, giving you some time to consider your options.