Are Phoenix Home Sellers Still Holding Onto Peak Prices?
The Phoenix real estate market is in the middle of a noticeable shift — and if you’ve been watching the numbers lately, you’ve probably seen the change coming. After years of rapid appreciation, bidding wars, and record-breaking Phoenix home prices, we’re now in a new chapter: more homes for sale in Phoenix, fewer buyers competing, and a lot more negotiating power on the buyer’s side.
But here’s the question many are asking:
Are Phoenix home sellers still holding onto those peak-era prices?
The short answer? Many are… and it’s costing them.
The Phoenix Housing Market Reality in 2025
Inventory in the Phoenix housing market has surged — up about 50% year-over-year. That means buyers have options, and when buyers have options, they can afford to be choosier. Properties that are priced right are still selling, but the days of multiple offers in 24 hours are becoming rare.
Recent Phoenix housing market data shows:
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28% of listings statewide had price reductions this spring — well above the national average of 18%.
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Phoenix is #1 in the nation for delistings, with about 30 homes being pulled from the market for every 100 new listings.
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Many Phoenix home sellers would rather wait for “better market conditions” than lower their asking price — even if that means no sale for now.
Why Some Sellers Resist Price Adjustments
It’s human nature to anchor to the highest number we’ve heard — especially when that number comes from a neighbor’s sale at the height of the market. But pricing a home based on yesterday’s Phoenix real estate market can backfire in today’s conditions.
Common seller mindsets include:
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“I’ll just wait until the market comes back up.”
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“My home is better than the others on the market.”
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“Buyers can always make an offer.”
The problem? Overpricing can keep serious buyers from even stepping foot inside your home.
The Cost of Holding Out in the Phoenix Real Estate Market
Every day your home sits on the market, it loses a bit of its “freshness.” Buyers start wondering why it hasn’t sold, and that can lead to even lower offers down the road. In this market, the first 2–3 weeks are crucial — that’s when you’ll see the most interest.
When you list your home in Phoenix at the right price from the start, you attract more showings, create competition, and often sell faster and for a better net result than one that starts too high and chases the market down.
Adapting to the Shift
For Phoenix home sellers right now, flexibility is key. That doesn’t mean giving your home away — it means understanding the competition, studying comparable sales, and positioning your property where it will be seen as a valuein buyers’ eyes.
If you’re selling a home in Phoenix in 2025, ask yourself:
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How many homes are competing with mine right now?
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How long are similar homes for sale in Phoenix sitting on the market?
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Am I pricing based on the market I wish we had, or the one we’re actually in?
Bottom line: Sellers who adapt quickly to today’s Phoenix housing market realities are the ones making it to the closing table. Those who hold onto yesterday’s prices may find themselves… holding onto their home for a lot longer than they planned.
