By Jaki Underwood, Editor in Chief
The Arizona real estate market continues to shift, with some cities holding strong for sellers while others show signs of cooling down. If you’re thinking about buying or selling, understanding these trends can help you make the right move.
What’s the Cromford® Market Index (CMI)?
Think of the Cromford® Market Index (CMI) as a scoreboard for real estate. If a city’s score is above 100, sellers have the advantage—meaning homes are in high demand and prices tend to favor them. If the score drops below 100, buyers gain the upper hand with more negotiating power and lower competition. So, how are Arizona’s top markets performing right now?
Still Hot: The Cities Where Sellers Are Winning
Some cities continue to be strong seller’s markets, with scores well above 100. Chandler remains the hottest market, sitting at 159.0 on the CMI. While it dipped -1% from last week, demand is still significantly outpacing supply. Tempe (142.3), Paradise Valley (138.5), and Scottsdale (136.6) are also firmly in seller-friendly territory, though Paradise Valley saw a notable -4% decline in market strength. Mesa (117.0) is showing resilience, posting a 1% increase, meaning demand is quietly rising while other cities are seeing drops.
Holding Steady: Gilbert & Tempe Stay Balanced
Not all cities are seeing big swings. Gilbert (132.1) and Tempe (142.3) remained unchanged from last week. While still strong markets for sellers, their stability suggests pricing may not see drastic changes in the short term.
Cooling Down: Where Buyers Are Gaining an Edge
For homebuyers looking for better deals, certain markets are becoming more favorable. Fountain Hills saw the biggest drop (-7%), bringing its index down to 137.1. While still a seller’s market, this sharp decline indicates shifting demand. Avondale (109.5), Cave Creek (107.0), and Peoria (105.1) also saw slight declines, making them markets to watch for potential buying opportunities.
The Softest Markets: Buyer-Friendly Cities
If you’re looking for the best places to buy with less competition, these cities are leaning towards a buyer’s market: Goodyear (78.3), Queen Creek (71.5), Surprise (66.8), Buckeye (51.8), and Maricopa (51.0) are all well below the 100 mark, signaling that inventory is high and buyers have more negotiating power. Maricopa experienced the sharpest drop at -5%, showing a continued trend toward price softening.
What Does This Mean for You?
- Sellers in strong markets like Chandler, Scottsdale, and Gilbert can still capitalize on high demand, though pricing strategically will be key as some markets start to cool.
- Buyers looking for deals should keep an eye on Avondale, Peoria, and Fountain Hills, where the market is shifting in their favor.
- Investors should watch Mesa and other stable markets, where demand remains steady despite other fluctuations.
The Arizona market is changing, and whether you’re buying, selling, or investing, timing can make all the difference.
About the Author
Jaki Underwood is a licensed luxury realtor in Arizona and the editor-in-chief and co-founder of the Arizona Ascent Magazine. She helps shape the publication’s direction, focusing on the vital connections between the real estate market.
