South Phoenix & Laveen Market Update
South Phoenix and Laveen are moving into a slower, more inventory-rich market as we head toward year-end. Active listings have increased across the area, with supply now sitting well above last year and significantly higher than two years ago. Homes are taking longer to sell, averaging 80–88 days on market, showing buyers are more deliberate and sellers must align pricing with current conditions.
Demand is steady but quieter than earlier in the year. Pending contracts and monthly sales are holding at moderate levels, and annual sales counts remain remarkably stable, indicating a consistent core of owner-occupant buyers. The contract ratio across the region is modest, supporting the picture of a balanced-to-soft market rather than a competitive one.
Pricing is mixed but generally stable. Closed sales range in the $209–226/SF area, with one submarket showing positive year-over-year appreciation and the other showing slight declines. When combined, the result is flat to mildly positive annual pricing, with no meaningful downward pressure. Median annual prices remain resilient in the high $300s to upper $400s, and homes are closing at 98–99.5% of list price, showing that accurately priced homes still perform well.
Inventory levels are higher than last month and last quarter, with 3.9 to 4.2 months of supply, reflecting a shift toward a buyer-leaning environment. However, stable annual sales volumes and strong list-to-sale ratios keep the market grounded.
Overall, South Phoenix and Laveen remain steady, slower-paced markets with elevated inventory, stable long-term pricing, and moderate buyer activity—a predictable environment supported by needs-based demand rather than speculation.
