Market Summary for the Beginning of March 2026

Here are the basics – the ARMLS numbers for March 1, 2026 compared with March 1, 2025 for all areas & types:

• Active Listings: 25,502 versus 23,934 last year – up 6.6% – and up 3.7% from 24,593 last month
• Under Contract Listings: 8,720 versus 8,471 last year – up 2.9% – and up 15% from 5,564 last month
• Monthly Sales: 5,870 versus 5,814 last year – up 1.0% – and up 21% from 4,861 last month
• Monthly Average Sales Price per Sq. Ft.: $314.43 versus $311.70 last year – up 0.9% – and up 0.02% from $314.37 last month
• Monthly Median Sales Price: $450,000 versus $459,000 last year – down 2.0% – but up 0.7% from $447,000 last month

Active listing counts continued to grow during February, but at a slower pace than January. It looks as though they have now either found a top or are very near a top. We remain higher than this time last year but the gap has closed and will continue to close further if current conditions continue.

Total listings under contract are up 2.9% compared to this time last year.  Given that mortgage rates are much more tempting in 2026 than in 2025, a 2.9% increase in listings under contract is far from impressive. Something else is still holding buyers back.

Monthly sales at 5,870 look pretty decent, uo 1% from February 2025. However they are up 21% from January, which is normal based on our seasonal pattern. They were up 21% from January to february last year too.

The average price per square foot continues to be supported by strong sales in the very high-end. We are looking at an appreciation rate of 0.9% based on that measure. However the median sales price is down 2% from a year ago confirming that prices are much weaker in the low-end and mid-ranges than in the luxury sector. Locations far from the center of Phoenix are seeing the weakest prices as supply comfortably exceeds demand in most of the outer areas.

The lower interest rates have brought out a few more buyers, but they have also brought out a few more sellers, so there has yet to be a significant swing in the balance between supply and demand. There is a big difference between market conditions between the inexpensive outer locations and those in up-scale areas or closer to Central Phoenix and Scottsdale.

The market may shift, trends may change, but my commitment doesn’t. Strategic guidance, elevated marketing, and a client-first approach to every transaction, every time. The standard has always been high, and it stays that way.  If 2026 is your year, I’m here to guide you through it.