Did you accomplish what you intended in 2024?
Kirsten: The best things to scratch off the list were an epic family vacation and my first Master’s Swim Meet.
Mary: I have been busy making lots of changes at my live in remodel. You can follow along here to see all the work we have been doing!
New Year’s Reflections and Resolutions
This simple list is a good way to start your year with new goals and ideas. If you want a bigger goal sheet with 6 different areas of life, you can grab that HERE
Phoenix Real Estate: 2025 Starts Off Strong, But Will It Last?
The Phoenix real estate market kicked off 2025 with positive momentum: sales are up, prices remain strong, and the market is balancing, with most areas no longer favoring buyers.
For Sellers
More homes are available compared to this time last year, with active listings up 37%. However, supply dropped 7.3% from December, giving sellers a temporary edge with fewer homes competing for buyers' attention. If December’s expired listings return to the market, this edge could quickly disappear. Pricing is holding firm, with the median home price at $450,000, unchanged from December but up 4.7% from last year. Sellers in high-demand areas and price points should still see strong activity.
For Buyers
Sales prices are up, but they haven’t skyrocketed, making it a better time to buy than during more volatile periods. The average price per square foot is $303.62, up 6.8% from last year. While mortgage rates remain high, demand has steadied after last year’s dips. Luxury buyers should note that the upscale market remains competitive, driven by robust stock and crypto gains among affluent buyers. Builders are also becoming more flexible, particularly on move-in-ready homes, creating potential opportunities for negotiation.
Looking Ahead
The big question for the first quarter is how much new inventory will hit the market. If listings remain low, we could see a soft seller’s market strengthen. However, a flood of new homes could push us back into buyer’s market territory, especially in outlying areas.
One thing is clear: the next few months will be pivotal for both buyers and sellers. Watch for changes in supply and buyer activity to understand where the market is heading. Whether you’re looking to make a move or stay put, now is a great time to strategize your next steps with a trusted professional.
