Your guide to market updates & local events happening in
January 2025!
What is happening in the market… Inventory continues to climb giving buyers more options to pick from. We are also seeing an increase on Days on Market. December did show a slight increase on days on market with 52 days on market compared to 47 days on market for November. We also saw a decrease in median sales price.
*However, The Cromford Report predicts an increase in buyers at the end of January going into February!
Median Sales Price in Phoenix is $430,000 for December 2024 compared to $433,750 in November 2024
Here’s how Phoenix ranks among 50 hottest housing markets in 2025
Buffalo, New York, will be the hottest major housing market in 2025, according to a new analysis by Zillow®, the first time a market has held the title in back-to-back years. Relative affordability and few homes for sale are common threads among what should be the most competitive markets for buyers this year. So, how does Metro Phoenix rank among the hottest housing markets in 2025?
“Construction that keeps pace with an area’s growth remains a crucial piece of keeping homes available and accessible. In chilly Buffalo, competition among buyers will remain hot, with employment growing far faster than builders are adding homes,” said Skylar Olsen, Zillow chief economist. “Shoppers nationwide should see more options for sale than in recent years, along with slow and steady price growth. That’s the good news. But both buyers and sellers should expect unpredictable mortgage rates.”
This hotness ranking of the nation’s 50 most populous metros takes into account Zillow’s forecast for local home value growth and how quickly homes are selling. The hottest housing markets in 2025 ranking also considers job growth per new home permitted and expected growth in owner-occupied households.
High Street Residential breaks ground on Scottsdale luxury project
High Street Residential (HSR), the residential subsidiary of Trammell Crow Company(TCC), and JV partner Mitsui Fudosan America (MFA) have broken ground on a 215-unit, Class A, luxury residential community in Scottsdale, Arizona. The project, which will have a formal name announced as construction progresses, is slated for completion by mid-2027.
The new project is located in Central Scottsdale, just off Scottsdale Road and Gold Dust Avenue. The redevelopment of the 4.2-acre site, previously home to a vacant retail center, will represent a significant capital investment within one of the Valley’s most prominent areas.
Best Hikes in Phoenix
There’s a great trail for every skill level within a short drive from anywhere in Greater Phoenix. Check out our guide to the best hikes in Phoenix.
The outdoor enthusiasts around here will tell you Phoenix is a mecca for urban hiking. “Urban” doesn’t mean you’re sacrificing views, or the sense of losing yourself in sublime wilderness: It just means no matter where you are in Greater Phoenix, you’re guaranteed to be a short drive from a great trail. Lace up your shoes and get moving with this guide to essential hikes around the city.
Before you go: Maximize the enjoyment of your hikes and keep yourself safe from the desert’s unique hazards with these safety tips.
Top Spots to Golf In Phoenix
What’s happening on the Westside?!
New! All the latest Upper West Side news by area
COMING SOON & WHAT’S OPEN
This is where you’ll find all of the latest happenings in our area from what’s coming to what’s open to what we are still hoping to see in our beautiful communities. Find your area of interest and click below to find out more!
