The July numbers are in, and the Phoenix real estate market continues to look more like a negotiating market than a runaway seller’s market.
ARMLS reported 23,743 active listings in July, down slightly from June and essentially flat compared with a year ago. At the same time, only 6,719 properties were under contract, down more than 10% from the previous month.
Prices, however, have been remarkably resilient. The median sales price held at $450,000, unchanged from June and up 2.27% from July 2025. The average sales price was $599,412, up 5.02% year over year.
Where buyers are gaining some leverage is time and supply. July finished with 3.78 months of supply, up 12.09% from the previous month, while the median home spent 61 days on market, compared with 58 in June.
What does that mean?
For buyers, there is more room to negotiate than we saw during the frenzy of a few years ago. Price, concessions, repairs, and financing terms can all become part of the conversation.
For sellers, this is not a market where simply putting a home on the MLS guarantees a quick sale. Pricing and presentation matter. The median new-list price fell to $455,000 in July, down from $469,000 in June and $480,000 three months earlier.
The market has not collapsed. Prices have not collapsed. But the balance of power has shifted enough that strategy matters again.
If you are thinking about buying, selling, or just want to know what these numbers mean for your neighborhood, reach out anytime.
Robert Foreman
Arizona Real Estate Broker | HomeSmart
📞 480-415-0783
📧 robert@livinginphoenix.net
🌐 livinginphoenix.net
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Source: ARMLS®, July 2026 statistics, published August 6, 2026.