New listings and closed home sales increased year over year in the Phoenix area last month, according to the latest Market Update from Phoenix REALTORS®.

Realtors added 6,400 Maricopa County properties to the MLS in January, an 11.1% increase over the same month in 2024. Active inventory, meanwhile, jumped 42.9% to 14,777 total properties for sale.

Closings also increased 4.6% year over year, with 2,969 homes sold. Pending listings, however, dropped 35%, with only 2,670 homes going under contract compared to 4,105 a year prior.

The average and median sales prices both increased year over year as well: the median sales prices rose 6.1% to $520,000, while the average rose 14% to $747,191.

Given the current rate of sales, Maricopa County had a 4-month inventory in January, up 48.1% year over year.