New listings and inventory continue to grow in both the condo and single-family home markets in Maricopa County, new data from Phoenix REALTORS® shows. 

New single-family home listings have increased 13.9% from January through August compared to the same time period last year. Inventory of homes for sale was more than 12,000 in August. That number was less than 8,000 in August 2023. 

Months of inventory has grown from two in August 2023 to 3.4 last month. Industry experts generally consider four to six months of inventory to represent a balanced market. 

New condo listings in Maricopa County are up 11.5% this year compared to January through August of 2023. Condos and townhomes for sale were about 2,700 last month, an uptick from roughly 1,500 the same month last year.

Months of condo and townhome inventory in Maricopa is estimated at 3.8, more than double the 1.8 months of inventory in August 2023.

Pricing is largely flat, year over year. The median single-family home price increased in August to $505,000 from $500,000 last year. The median condo/townhome price rose to $340,000 from $337,750.