October 2025 Maricopa Housing Market Recap: Re-Sales Rise, New Builds Dip

The October affidavits of value for Maricopa County are in, revealing a mixed performance across the housing market. A total of 6,059 properties closed during the month, a slight 1.5% drop compared to October 2024, but still a 2.1% improvement over September 2025. Breaking it down, resale transactions saw a healthy bump of 3% year-over-year, totaling 4,787 closed sales. However, new home sales fell sharply, down 15.4% compared to last October, with just 1,272 closings. Compared to September, re-sales were up 3.6%, while new builds dipped slightly by 3.1%.

Median pricing showed mild annual growth but remained below the rate of inflation, which confirms the buyer-friendly market conditions that have persisted through most of the year. The overall median sale price came in at $478,990, up 0.8% from last year, but down 2.0% from September. New homes posted a stronger median of $536,091, climbing 2.0% year-over-year and 0.6% month-over-month. Meanwhile, resale homes landed at a median price of $460,000, a modest 1.1% rise from last October but a 2.1% dip from the previous month.

The contrast in volume and pricing trends between new construction and resale properties suggests that builders may be starting to ease off their more aggressive price cuts and incentives. While new build activity has slowed, prices are holding firmer, potentially signaling tighter inventory or a strategic pullback by developers wary of overextending into a market still navigating higher mortgage rates and affordability challenges.

All figures reflect closed sales of single-family homes and townhomes/condos within Maricopa County only. With October having the same number of working days as the prior year, these comparisons don’t require adjustment and offer a clear snapshot of the local market’s momentum, steady for re-sales, but softening on the new construction front.

"In the middle of every difficulty lies opportunity."
—Albert Einstein

Have a great week, everyone!