Price band
$800K – $2M
- Active
- 3411
- Median PPSF
- $386
- Median DOM
- 54days
Twelve-month signal
Last 12 months
3411 active listings; median days on market 54 days. The bridge tier: luxury-adjacent entry, broadest active pool.
Yong's Monthly Read
January 2026
Phoenix metro · Full stat suite · Yong's read
At a glance
The month, in six numbers.
Median PPSF
$255
+0.9%MoM-3.0%YoY
Median DOM
79days
+8.2%MoM+5.3%YoY
Closings
7,039
-17.9%MoM+0.2%YoY
Closed volume
$3249.2M
+2.8%YoY
New listings
10,594
Phoenix metro · monthly total
Months of supply
3.3mo
Trailing 12 · sellers
The read
January 2026, in Yong's words.
Phoenix metro closed 7,039 residential transactions in January 2026, with aggregate dollar volume of $3249.16M, edged up +2.8% year-over-year. Median price-per-square-foot landed at $255, pulled back -3.0% from the same month last year.
Median days on market sat at 79 days, 5.3% longer than a year ago. Across the trailing twelve months, the median price-per-sqft trend eased 3.8%, a directional move the chart picks up below.
Recent absorption pace puts months-of-supply at 3.3 months on the trailing-3-month gauge, with the long-run trailing-12 gauge at 3.3. By that ratio the metro classifies as a seller’s market, the gauge below telegraphs where the metro sits on the buyer-to-seller spectrum.
Inside the latest closed cohort, negotiation pressure tilted modestly toward buyers: 11.8% of closings printed above list, 47.9% below. Sellers showed real concession discipline; 36% of closed listings cut their list price before going pending.
Written by
Yong Choi
Global Real Estate Advisor
Luxury bands · price per sqft, days on market, closings
The price arc, band by band.
Active snapshot · 2026-09-11
Price band
$2M – $5M
- Active
- 941
- Median PPSF
- $677
- Median DOM
- 80days
Twelve-month signal
Last 12 months
941 active listings; median days on market 80 days. The most actively transacting luxury band.
Price band
$5M – $10M
- Active
- 230
- Median PPSF
- $1,055
- Median DOM
- 73days
Twelve-month signal
Last 12 months
230 active listings; median days on market 73 days. Selective inventory; representation-driven, longer time horizons.
Price band
$10M+
- Active
- 84
- Median PPSF
- $1,573
- Median DOM
- 119days
Twelve-month signal
Last 12 months
84 active listings; median days on market 119 days. Ultra-luxury; off-market share is meaningful, so the published count understates true activity.
Active ÷ trailing closings · Phoenix metro
Months of supply.
Seller’s market
Phoenix metro · 3-month gaugeBuyer-leaningBalancedSeller-leaning
Strong buyers
Buyers
Balanced
Sellers
Strong sellers
↑ 3.29 mo
3-month gauge
3.29mo
Most current. Closings T3M
12-month gauge
3.30mo
Long-run. Closings T12M
Active inventory
28,852
IDX-displayable across the metro
Inventory clears faster than the year’s average pace. Sellers retain leverage on well-priced listings.
From supply to the deal
What sellers gave.
What buyers paid.
Negotiation pulse
What the gap looked like.
Monthly snapshot · August 2026
Median gap to list
At list
Steadyvs prior
Closed sale ÷ list
Closed over asking
11.8%
Share of closings
Closed below asking
47.9%
Share of closings
Buyers are paying at or above list. A thin negotiation window.
Sellers blinking
Reductions inside the close pool.
Monthly snapshot · August 2026 · n = 7,902 closings
Closings with a reduction
36.1%
At least one cut from list
Typical reduction depth
4.8%
Median net change from original list
Sellers are giving ground on a meaningful share of listings. Selective buyer leverage.
How we read the market
Three inputs.
- 01
Recorded market transactions
ARMLS listing and sale records · refresh cadence varies by dataset
The full set of recorded listing-and-sale transactions across the Valley. Source-of-record for headline volume + closed-price stats.
- 02
Public deed filings
County recorder · weekly cross-reference
Captures recorded transactions that weren’t publicly listed, including off-market trades, intra-family transfers, and entity-to-entity sales.
- 03
Private RLSIR registry
Off-market trades facilitated by the network
Yong’s and the Russ Lyon Sotheby’s International Realty network’s direct knowledge of pocket trades, club-membership-driven transfers, and pre-listing introductions.
Weekly cadence reports the supply pulse (new-listing cadence + rolling averages) at metro granularity. Monthly cadence reports the full stat suite: median price-per-sqft, median days-on-market, transaction volume, and inventory tier breakdown. Adjustments are noted inline where applicable.