Maricopa County’s January affidavits of value have been analyzed, revealing notable trends in the local real estate market. There were 6,000 closed transactions in January, reflecting a 1.1% increase from February 2024, which had 5,933 closings, and an 18% increase from the previous month. Of these transactions, 1,283 were new home sales, marking a 4.6% decline from February 2024’s total of 1,345 but still showing a 13% increase from January. Additionally, 4,717 resale transactions were recorded, representing a 2.8% increase from February 2024 and a significant 20% jump from January. These figures indicate a strong start to the year, with overall activity trending upward compared to the previous month.

In terms of pricing, the median sales price for all homes in February reached $488,613, reflecting a 4.6% increase from February 2024 and a modest 0.7% rise from January. New homes had a median sales price of $530,000, a 2.7% increase from February 2024 but a 2.7% decrease from January. Meanwhile, resale properties had a median sales price of $470,000, which was up 4.4% from February 2024 and 2.2% higher than January. These figures suggest that while the new home market is experiencing some fluctuations, the resale market remains on a steady upward trajectory.


The new-home market share declined again in February, reaching 21.4%, down from 22.7% a year ago. This suggests that while new construction remains a significant part of the market, its share has been slightly diminishing over the past year. The data presented includes single-family homes as well as townhouses and condominiums, offering a comprehensive view of the residential market in Maricopa County. With continued price growth and strong resale activity, the market remains dynamic, though shifts in new home sales warrant close monitoring.

"Quality is not an act, it is a habit."
-Aristotle