December Market Update Shows Continued Strength for Phoenix Area Sellers

The real estate market continued to strengthen for most sellers throughout December, reinforcing the positive momentum that has been building in recent weeks. Of the eighteen cities tracked, only Paradise Valley experienced a decline in market conditions over the month. Sixteen cities improved for sellers, while Avondale remained essentially unchanged. This broad-based improvement signals that sellers across much of the region are benefiting from reduced competition and slightly firmer demand.

While the overall trend remains favorable, the pace of improvement has eased marginally. The average Cromford Market Index increased by 9.7 percent over the past month, down slightly from the 10.8 percent gain recorded last week. This moderation does not suggest a reversal, but rather a natural slowing after several weeks of strong gains driven by seasonal supply reductions and stabilizing buyer activity.

Several cities stood out with especially strong moves in favor of sellers. Gilbert, Peoria, Queen Creek, Phoenix, Glendale, and Goodyear posted the largest improvements, reflecting tighter inventory conditions and improved negotiating leverage for sellers in these areas. Phoenix’s continued strength is particularly notable given its large share of overall transaction volume and its influence on regional market trends.

Market classifications remain unchanged from last week, underscoring a degree of stability heading into the new year. Ten cities are currently considered seller’s markets, two are balanced, and six remain buyer’s markets. While conditions still vary significantly by location, the broader picture suggests sellers are entering 2025 with a stronger footing than they had earlier in the year.

"Stay hungry, stay foolish." 
– Steve Jobs

Have a great week, everyone!