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

This might be a steady time to sell your home in Phoenix, though prices have cooled a bit. Homes are selling a little faster than last year, but there are more options for buyers. You'll want to consider these factors. The median price for homes listed right now is $475,000, which hasn't changed from the month before. However, this is nearly 5% less than what homes were listed for at this time last year. The average listing price is also down about 3% compared to last year. There are more homes on the market, with active listings up 7.5% over the past year. New listings have also increased by 3.6%. This means buyers have more choices, which can sometimes make it harder for your home to stand out. Homes are selling a little quicker, staying on the market for a median of 62 days, which is about 5% faster than last year. Despite this, a higher percentage of homes, about 29%, have had their prices reduced, suggesting some sellers are adjusting their expectations. Considering these points, sellers should price their homes thoughtfully and be ready for a market with more inventory and potentially some price negotiations.