Closed home sales in Greater Phoenix rose at nearly four times the national rate for November, climbing 4.3% compared to 1.2% nationally, according to data from Phoenix REALTORS®. Year-to-date closed sales rose 3.9%.
“Closings typically drop as we head into the holiday season, but this November saw a higher number of closed sales than both the prior year and in 2023,” said Christy Walker, board president of Phoenix REALTORS. “A major factor is the surge of new business activity across the region. Companies that announced expansions a year or two ago are now hiring and recruiting beyond Arizona, drawing newcomers who are eager to secure their next home as they relocate.”
Another data point of good news is that the Housing Affordability Index rose 4.4% to 71. The ongoing increases in this data point mean more households can qualify for the mortgage of a median-priced home. The 71-year-to-date mark for November is the best so far this year, up from 68 last year.
Year-to-date pending sales showed a rise of 1.6% over last year, and new listings rose 7.3% in the same period. Homes are sitting on the market longer, typically 74 days so far this year, compared to 64 days last year. Days on the market, however, is the highest level since 2011.
The median sale price was flat through 11 months of 2025 compared to the same period last year. It stood at $480,000 for the market in November, up from $477,500 a year ago.
“With the Phoenix market once again outperforming national trends, we’re seeing encouraging momentum as we head into 2026,” Walker said. “The new year is shaping up to offer promising opportunities for the local market, particularly for buyers, thanks to the rapid increase of inventory we’ve seen over the last year.”
With new listings coming on the market in November, housing inventory rose 13.6% from November 2024. This pushed the month’s supply of inventory to 4.1 months, up from 3.7 months in October. The inventory supply is the highest since the second quarter this year, but it is standing at a level last seen before that in 2011.
Phoenix
Closed sales rose 1.5% in the city of Phoenix as pending sales so far this year slipped slightly, 1.6%, compared to last year’s to-date numbers. New listings were up 4.7%. The median sale price in Phoenix rose 0.8% to $485,000, up from about $481,000 over the first 11 months of 2024. Although the inventory grew 12.9% for the month, it stands at a 3.5-month supply.
Scottsdale
Scottsdale continues to see healthy increases in median home sale prices, gaining 4% to $1.18 million, up from $1.14 million last year. The 4.6-month home inventory in November is up 7% from November 2024. Closed sales for the first 11 months of the year were up 4.9%, pending sales were flat, up 0.2%, and new listings rose 4.3% for the period compared to last year.
Chandler
Closings in Chandler rose 5.6% so far this year compared to last year. The median price rose slightly to just over $565,000, an increase of 0.8% over 2024’s year-to-date numbers. The selection is tighter in Chandler with just a 2.1-month inventory supply, up 4% from October.
Goodyear
Median home prices in Goodyear were steady, down just 1% to $475,000 year-to-date compared to 2024. The number of closed sales continues to rise across the top of the market, up 26.2% over the same 11 months last year. Pending sales jumped 24.2% and new listings are up 13.8% in year-to-date comparisons.
Mesa
Home sales rose 1.4% year-to-date in Mesa, but pending sales slipped 2% and days on the market increased from 53 in the 11 months of 2024 to 67 in 2025. The median home price was flat at $490,000, down 1% from 2024.
Surprise
Substantial year-over-year numbers were reported from Surprise. Closings were up 5.7%, pending sales rose 5.9% and new listings climbed 14.4% over 2024. With a 15% increase in the month’s supply of inventory to 4.6 months in November, compared to October, the number of days a home was on the market rose 11.1% from 72 days to 80 days. The median home price dropped 1.6% to $430,000.
Learn more about Phoenix REALTORS.
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