How much should I offer on a home in Phoenix?

The typical home in Phoenix is listed at $489,500. Homes are staying on the market for about 64 days, and nearly one-third have recently dropped their prices. This suggests that sellers might be more open to negotiating. We recommend making an offer below the asking price. The median listing price is $489,500, and this figure has actually gone down by 1.7% from the previous month and by 5.9% over the past year. This consistent decrease shows that prices are cooling off. There are 18,728 homes currently for sale, which is a slight decrease from last year. However, the number of brand-new listings has increased by 6.6% compared to last year, meaning more options are coming onto the market for you. About 28.7% of homes have had their prices reduced recently. This is a common strategy for sellers who want to attract buyers in a market where prices are trending downwards. With prices softening and many sellers reducing their asking amounts, you have a good chance to negotiate for a better deal. Start with an offer below the listed price and be prepared for some back-and-forth discussions. Your goal is to find a fair price that works for both you and the seller.