08/20/2026
Here is the Monthly Cromford Report with any annual changes from last year. Active listings for sale have stayed the same
-What Homebuyers Get for Their Budget in 2026
-Sellers: What to Watch this Summer
For Buyers: Affordability is a hot topic, especially for first-time buyers. While articles often focus on median or average sales prices, they don’t always provide context. So far in 2026, the median single-family home sold in Greater Phoenix is 2,001 square feet at $450,000—larger than many first-time buyers may need or want. Growth areas such as Pinal County, Buckeye, and Surprise offer more affordable new homes, often with incentives for closing costs or mortgage-rate buydowns. With fewer homes coming on the market during summer, buyers may also have more negotiating power, particularly in the popular sub-$400K range. Over the past three months, 70% of homes that closed between $300K–$400K had sellers pay buyers’ closing costs, with a median contribution of $10,485, often including a mortgage-rate buydown.
For Sellers: Summer can be a challenging time for sellers, with homes sitting longer, fewer new listings, and increasing stale inventory. By September, more new listings will start to increase. Tracking local market data can help sellers decide whether to stay patient or adjust their strategy.
The most useful reports are specific to the home’s ZIP code and price range, including:
-Showing activity: Tracks how many buyers are viewing similar homes and how demand is trending.
-Weekly contracts: Shows how many homes are going under contract. If few are selling, patience may be necessary; stronger activity can reveal what buyers are choosing.
-Weekly supply: Compares available homes with the number of contracts. Rising supply with fewer sales may signal a need to adjust strategy.
-Price per square foot at contract: Helps identify the pricing “sweet spot.” Homes priced above this level typically need standout features, condition, amenities, or location to justify the premium.