Price band
$800K – $2M
- Active
- 652
- Median PPSF
- $377
- Median DOM
- 199days
Weekly signal
Last 13 weeks
652 active listings; median days on market 199 days. The bridge tier: luxury-adjacent entry, broadest active pool.
Yong's Weekly Read
August 17 to 23
Phoenix metro · Supply pulse · Yong's read
At a glance
The week, in six numbers.
New listings
21
-38.2%WoW-98.8%YoY
4-week average
74.8
Smoothed signal
52-week average
1590.1
Long-run baseline
Week-over-week
-38.2%
vs prior ISO week
Year-over-year
-98.8%
vs same week last year
Months of supply
0.7mo
Trailing 12 · strong sellers
The read
Week of August 17-23, 2026, in Yong's words.
Phoenix metro recorded 21 new listings in the ISO week ending 2026-08-23, a count that fell sharply -38.2% versus the prior week. Compared to the same calendar week one year ago, the count printed 98.8% below that mark, a meaningful divergence from the year-ago baseline.
The week ran 71.9% below the trailing 4-week average of 74.8 listings and 98.7% below the 52-week long-run baseline of 1590.1. Across the full 12-week window the supply pulse eased 98.3%, a directional move the chart picks up below.
Recent absorption pace puts months-of-supply at 0.6 months on the trailing-3-month gauge, with the long-run trailing-12 gauge at 0.7. By that ratio the metro classifies as a strong 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, 48.2% below. Sellers showed real concession discipline; 34% 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 · 2026-08-26
Price band
$2M – $5M
- Active
- 303
- Median PPSF
- $687
- Median DOM
- 203days
Weekly signal
Last 13 weeks
303 active listings; median days on market 203 days. The most actively transacting luxury band.
Price band
$5M – $10M
- Active
- 88
- Median PPSF
- $1,022
- Median DOM
- 186days
Weekly signal
Last 13 weeks
88 active listings; median days on market 186 days. Selective inventory; representation-driven, longer time horizons.
Price band
$10M+
- Active
- 49
- Median PPSF
- $1,382
- Median DOM
- 220days
Weekly signal
Last 13 weeks
49 active listings; median days on market 220 days. Ultra-luxury; off-market share is meaningful, so the published count understates true activity.
Active ÷ trailing closings · Phoenix metro
Months of supply.
Strong seller’s market
Phoenix metro · 3-month gaugeBuyer-leaningBalancedSeller-leaning
Strong buyers
Buyers
Balanced
Sellers
Strong sellers
↑ 0.63 mo
3-month gauge
0.63mo
Most current. Closings T3M
12-month gauge
0.67mo
Long-run. Closings T12M
Active inventory
5,910
IDX-displayable across the metro
Active inventory clears in well under a month at the current closing pace. Pricing power sits firmly with the seller side.
From supply to the deal
What sellers gave.
What buyers paid.
Negotiation pulse
What the gap looked like.
Monthly snapshot · July 2026
Median gap to list
At list
Steadyvs prior
Closed sale ÷ list
Closed over asking
11.8%
Share of closings
Closed below asking
48.2%
Share of closings
Buyers are paying at or above list. A thin negotiation window.
Sellers blinking
Reductions inside the close pool.
Monthly snapshot · July 2026 · n = 8,998 closings
Closings with a reduction
33.8%
At least one cut from list
Typical reduction depth
4.6%
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
1.84M Valley records · refreshed every 4 hours
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.