10/09/2026
Central Phoenix buyers gained meaningful leverage during September.
As of October 2:
• 427 homes are active • Only 24 homes are pending • Months of supply increased to nearly six months • The contract ratio fell to 14.5% • The six-month average sale price is approximately $490,000 • Closed homes are averaging 103 days on market
The average 30-year mortgage rate also reached 7.28% at the beginning of October. That sudden increase in borrowing costs likely caused some buyers to pause, lower their budgets, or become more selective.
The important thing to remember is that Central Phoenix is not one uniform market. Garfield, Coronado, Downtown Phoenix, and Melrose are each moving differently.
I’ll be breaking those neighborhoods down individually over the next few weeks. Follow along for the complete Central Phoenix Market Check.
Which neighborhood would you like to see first?