Slight Decline in Home Sales
For the third consecutive year, closed single-family home sales in Metro Phoenix saw a slight decline, ending 2024 with 67,654 sales—a modest 0.4% drop from the previous year and well below the 105,322 annual sales recorded just four years ago, according to the latest Phoenix REALTORS® report. Despite the mixed performance in 2024, the report also highlighted some of the Valley’s most in-demand housing markets.
Pending sales experienced a more noticeable decrease, falling 2.5% from 2023 to 66,292 signed contracts. Meanwhile, new listings saw a healthy increase of 12.8%, and the metro area’s median sales price continued its upward trend, reaching $460,000—an increase of 4.3% year-over-year.
