M
etro Phoenix residential real estate sales in June saw a 3% increase in closed deals, a 12% jump in listings, and only a 3% drop in pending sales. According to the latest year-to-date data from Phoenix REALTORS, this marks an improvement over expectations.

    However, Christy Walker, president of Phoenix REALTORS, cautions against reading too much into these numbers. "We can't get ahead of ourselves," she said. "The market is not bouncing back yet." Lawrence Yun, chief economist for the National Association of Realtors, predicts that cautionary times are ahead due to a projected 1.7% gross domestic product growth rate.

    For the first time in over 18 months, the median sales price of a single-family home in Greater Phoenix remained steady at $480,000. This aligns with national trends, although nationally, the median sales price has declined over the past three months.

    Walker describes the market as "cautiously optimistic" for the second half of 2025, citing expected drops in mortgage rates and improved economic conditions. In Phoenix specifically, closed sales were up slightly, while new listings increased by 10.8%. The median home price dipped by 0.2% to $489,000.

    In other areas of Greater Phoenix:

    * Scottsdale saw a 7% increase in the median home price to $1.23 million.

    * Goodyear led the market with significant gains in new listings (26.6%), pending sales (30.1%), and closed sales (34.9%).

    * Peoria experienced increased activity, attributed to jobs created by semiconductor-related facilities, with a 17.4% increase in new listings.

    * Mesa saw declines in pending and closed sales, while the median home price remained constant at $489,000.

    * Chandler reported increases in new listings (18%) but declines in pending sales (17%), with a slight increase in closed sales.

    * Queen Creek experienced growth in listings (9.5%) and closed sales (5.6%).

    * Gilbert saw a 1.2% increase in single-family home sales, while new listings increased by 19%.