August Update Highlights
August 21, 2025
We continually aim to provide our partners with the most current market insights. Below are the newest figures from our monthly Market Update, presented on August 7, 2025 by Tina Tamboer, Senior Analyst at the Cromford Report.
Appreciation by Price Range (YoY)
| Price Range | 2024 July $/SF | 2025 July $/SF | Δ YoY |
|---|---|---|---|
| Under $300K | $190.25 | $185.30 | -2.6% |
| $300K-400K | $234.72 | $228.64 | -2.6% |
| $400K-500K | $242.08 | $238.64 | -1.4% |
| $500K-600K | $256.83 | $254.45 | -0.9% |
| $600K-800K | $279.33 | $275.37 | -1.4% |
| $800K-1M | $305.85 | $307.40 | +0.5% |
| $1M-1.5M | $378.10 | $373.58 | -1.2% |
| $1.5M-2M | $452.65 | $460.67 | +1.8% |
| $2M-3M | $534.79 | $530.88 | -0.7% |
| Over $3M | $741.61 | $803.56 | +8.4% |
Biggest Movers:
Gainers: Over $3M (+8.4%), $1.5M-2M (+1.8%), $800K-1M (+0.5%)
Decliners: Under $300K (-2.6%), $300K-400K (-2.6%), $600K-800K (-1.4%)
Sales by Price Range (YoY)
| Price Range | 2024 July Count | 2025 July Count | Δ YoY |
|---|---|---|---|
| Under $300K | 753 | 769 | +2.1% |
| $300K-400K | 1,461 | 1,376 | -5.8% |
| $400K-500K | 1,313 | 1,346 | +2.5% |
| $500K-600K | 727 | 720 | -1.0% |
| $600K-800K | 735 | 725 | -1.4% |
| $800K-1M | 300 | 298 | -0.7% |
| $1M-1.5M | 263 | 257 | -2.3% |
| $1.5M-2M | 91 | 109 | +19.8% |
| $2M-3M | 65 | 67 | +3.1% |
| Over $3M | 51 | 55 | +7.8% |
Key Market Stats (July)
- Average Price/SF: $285.48/SF · 5,722 Sales · -0.4%
- Closed Sales: 5,722 · -0.6%
- Days on Market (to contract): 48 DOM | +14 days YOY
- Median Sales Price: $445,000 · +0.5%
- Sales Over Asking: 17% · -3.0% YOY
- Concessions: Median $10,000 · 56% of Sales · +3.0% YOY
- Sale Price / List Price: 97.3% of last list price
Trend Watch
- Contract Ratio (SFR): 31.7 (as of 2025-08-01 00:00:00); Under Contract: 6,753 · 0.9% YOY
- Weekly Price Reductions: 11,085 · +29.5% YOY
- New Listings (Week 31): 1,284 · -52%
- Expired Listings: July 2025 913 vs July 2024 542 · + 68.5% YOY
- Price Negotiations (SP/LP): 0.973 · 4,357 Total sales · -0.4% YOY
Condo Contract Ratios by ZIP
- Peoria 85382 — 18.8 · Under Contract 6 · Active 33
- Phoenix 85016 — 10.87 · Under Contract 15 · Active 138
- Phoenix 85018 — 14.29 · Under Contract 11 · Active 77
- Scottsdale 85260 — 22.09 · Under Contract 19 · Active 86
Market Takeaways
- Arizona continues to be a Buyer’s Market for the 9th month in a row (especially for condos).
- Transportation in AZ over the next 10 years will be huge (SR347 & SR30 plus Passenger Rail System).
- Get Buyers onboard now! Lower rates will increase demand as we head towards a balanced market.
- Phoenix estimated wage growth 6.0% (national wage growth average…). Remember, the Housing metric in CPI number is rents, not sales.
Source: Cromford Report; ARMLS. Prepared for partners in August 2025.