Is now a good time to sell my home in Phoenix?

{ "answer": "Selling your home in Phoenix right now means navigating a market where prices have seen some recent drops, but homes are selling a bit faster than they were a year ago. The number of homes for sale has increased, giving buyers more options. Median listing prices in Phoenix are $475,000. This is 1.4% lower than the previous month and 4.8% lower than the same time last year. This suggests that buyers are seeing homes listed at slightly lower prices. There are 17,707 active listings, which is 5.2% more than a year ago. This means there's more competition among sellers. New listings, at 6,104, have stayed fairly steady compared to last year. Homes are staying on the market for 67 days, which is actually 4.3% less time than last year. This shows that buyers are making decisions a bit more quickly. However, 27.6% of homes have had a price reduction, indicating that some sellers are adjusting their prices to attract buyers. Given the current conditions, sellers should focus on setting a competitive price from the start. Highlighting your home's best features and being prepared for negotiations will be key to attracting one of the 6,080 pending buyers." }