While closed home sales increased 5.1% in Maricopa County in April, pending sales plummeted 31.4%, indicating a slower-than-expected spring selling season in the coming weeks.
According to the latest Market Update from Phoenix REALTORS®, buyers purchased 4,910 properties during the month, up from 4,671 during the same time frame in 2025.
Meanwhile, 3,154 listings went under contract — a stark drop from the 4,596 pending properties seen last April.
“Considering the economic uncertainty dominating headlines in April, it was a strong month for our members helping clients get into new homes,” Phoenix REALTORS® President Sammy Glassman. “Looking ahead, housing inventory does appear to be tightening, while pending sales may reflect continued consumer hesitation tied to broader economic concerns.”
New listings declined annually in April as active inventory stagnated, with sellers adding 6,064 properties to the MLS (down 12.9%) and a total of 16,452 homes on the market in Maricopa County (up 0.5%). Given the rate of sales, the county had a 4.2-month inventory in April, down 2.3% from a year prior.
Glassman noted that the close-to-list price ratio remained at 98% as the median home price rose 2% to $510,000.
“Many buyers are offering close to the asking price, but seeking incentives to reduce move-in costs,” Glassman said. “We see that buyers are looking for about 2% to 3% of the sales price to offset mortgage rates or cover move-in costs like prepaid taxes or homeowner insurance.”
Phoenix
In Phoenix proper, closed home sales increased 4.3% as pending sales dropped 34.5%. New listings fell 12.1%, and total active listings decreased 2.7%.
The median sales price increased 6% year over year to $503,500, while the average rose 9.4% to $654,017.
Given the rate of sales, the city had a 3.8-month inventory in April, unchanged from a year ago.
Scottsdale
In Scottsdale, closed home sales jumped 13.8% as pending sales dropped 26.7%. New listings fell 10% as active listings increased 2%.
The median sales price increased 5% year over year to $1,240,500, and the average increased 3.4% to $1,689,470.
Given the rate of sales, Scottsdale’s inventory decreased 1.9% in April to 5.3 months.