Phoenix Real Estate Market Update & Pricing Strategies – Episode 25

Welcome back to The Franco Dinh Show! This week’s episode is packed with valuable insights into the current Phoenix real estate market, including updates on my latest listings, a deep dive into market trends, and strategic pricing advice for sellers. If you're thinking about buying or selling, this episode has some key takeaways you won’t want to miss.

What’s New With My Listings?

This week, I shared updates on my latest listings. Out of three upcoming properties, one went under contract before even hitting the market! That’s the kind of fast-moving action we love to see. Another listing at 38th St is still under contract as we finalize negotiations, and I’m preparing two more properties for sale. While the average day on market is 81 days, homes priced right are still moving!

Phoenix Market Trends & The Cromford Report

We took a deep dive into the Cromford Report, which tracks market trends. The biggest takeaways:

• Inventory is rising – great news for buyers, but sellers need to price more competitive.

• Interest rates are easing, leading to increased contract activity compared to last year.

• Phoenix is still in a buyer’s market, with the Cromford Index at 83. (A balanced market is 90-110).

Which Cities Are in a Buyer’s vs. Seller’s Market?

Phoenix real estate is hyper-local, meaning that while the overall market trends one way, certain cities tell a different story:

• Seller’s Market: Chandler, Scottsdale, Paradise Valley, Gilbert, Tempe, Fountain Hills, Phoenix.

• Balanced Market: Cave Creek, Avondale, Glendale, Mesa, Peoria.

• Buyer’s Market: Goodyear, Queen Creek, Surprise, Buckeye, Maricopa.

One major shift? Avondale just moved from a buyer’s to a balanced market, showing signs of increased demand!

Pricing Strategy Breakdown: How to Price Right in This Market

I walked through my latest listing on Ross Avenue, going through comparable properties (comps) and market trends to determine the best price for a quick sale.

• Comps ranged from $365K to $405K, with some homes sitting on the market longer than desired.

• We’re looking at a listing between $389K–$399K to stay competitive while maximizing seller value.

Key Takeaways for Sellers

If you're selling your home, here’s what you need to know:

• The first two weeks are critical – don’t overprice!

• Homes that sit for over a month risk price reductions.

• Pricing competitively attracts buyers quickly.

• Phoenix is a buyer’s market overall, meaning sellers must stand out.

If you're thinking about buying or selling, now is the time to strategize! Have questions? Reach out to me anytime.