06/07/2026
Greater Phoenix Real Estate Market Recap: April ➡️ May 2026 🌵
The Valley real estate market told some interesting stories heading into summer. Luxury pricing climbed in Paradise Valley. Buyers moved faster in Phoenix, Chandler, Gilbert, and Tempe. And Scottsdale's high-end inventory tightened - all while prices held relatively firm at the top of the market.
Here's what the April → May numbers showed across the Greater Phoenix area:
🏡 Scottsdale - Inventory dropped from 2,630 to 2,399 active listings. Average sales price softened slightly to $1,337,192. Homes took a bit longer to sell (87 days vs. 80), and monthly sales came in at 657.
🏡 Phoenix - Inventory held virtually flat (4,072 → 4,073). Average sales price adjusted to $556,445, while homes actually sold faster — 63 days vs. 70. Monthly sales: 1,274.
🏡 Paradise Valley - Luxury inventory tightened significantly (280 → 241 listings). Average sales price climbed to $4,692,455 — up nearly 9% month-over-month. Homes took longer to sell at 107 days, but closed transactions increased to 43.
🏡 Fountain Hills - Inventory edged down to 230. Average sales price rose to $944,825. Homes sold a bit faster and monthly sales came in at 70.
🏡 Tempe - More listings came to market (371 → 405). Prices held steady near $504,150, homes sold faster at 58 days, and monthly sales were 137.
🏡 Chandler - Inventory tightened to 617. Prices adjusted to $573,101, but homes sold faster (58 days) and buyer activity picked up — 306 sales vs. 297 in April.
🏡 Gilbert - Inventory held nearly flat at 820. Average sales price came in at $701,587, homes sold faster at 53 days, and monthly sales increased to 346.
🏡 Queen Creek - Inventory eased to 569. Average sales price adjusted to $704,911, homes sold in 75 days, and monthly sales rose to 175.
What this means if you're buying or selling in the Phoenix Valley right now:
Buyers → More negotiating room in several markets, especially where prices have softened and days on market have stretched. The window to negotiate is open.
Sellers → Tighter inventory is your ally in markets like Paradise Valley and Scottsdale, but strategic pricing and presentation are what separate sold from sitting.
Thinking about what these numbers mean for your home or your next move? I'd love to walk you through it. Visit ashleeandassociates.com or send me a message directly. 📩
Ashlee Donaldson, Realtor®
Keller Williams Arizona Realty
Serving Scottsdale, Paradise Valley & the Greater Phoenix Area