Activity slowed in the Phoenix single-family residential housing market in January. Closed sales were up slightly, increasing 0.6% from January 2025. Pending sales dropped 31.3% from last year, and new listings were down 6.1%.
“When you look at the long-term trending numbers, January is always a slow month for residential real estate,” said Sammy Glassman, board president of Phoenix REALTORS. “Sales, listings and pending deals hit a trough ahead of the peak sales in February and through the spring.”
Despite the numbers, the January data align with expected trends from the past five years. The difference has been that, over the last three years, peak-month sales have been lower than in 2022.
The reduction in activity has affected other data points for January 2026. The median sales price declined slightly, down 3.1% to $475,000 from last year’s $490,000. The housing affordability index increased to 77 from 70 last year. That means 7% more households can afford the median-priced home in Greater Phoenix than could a year ago, the best affordability figure in the past four years.
“Phoenix activity was slightly lower than national sales, which increased 1.4% over the previous year,” said Glassman. “Nationally, median sales prices decreased to the same $475,000 level as they did in Greater Phoenix. Our region generally matched the national trends for the West, with the Phoenix median home price the same as the U.S. median for January 2026.”
General market trends saw days on the market increase from 76 to 88 this year, compared to last year. The months’ supply of inventory increased from 3.8 to 4.1 months.
Phoenix
In the city of Phoenix, closed sales increased 6.8% in January compared to 2025. New listings and pending sales were down 13.9% and 34.5%, respectively. The median sales price declined from $490,000 in January 2022 to $458,000 this year, a 6.5% drop. Time spent on the market was better in Phoenix than in the region as a whole, at just 76 days. The city’s months’ supply of inventory held steady at 3.4 months compared to a year ago.
Scottsdale
Although the median price of a Scottsdale single-family home increased 2.7% to $1.35 million, closed sales dropped 7.2%, pending sales plummeted 41.4%, and new listings slipped 9.3% in January 2026 compared to a year ago. The number of days a Scottsdale home was on the market skyrocketed to 99, an increase of 16.5%.
Goodyear
Over the past six months, Goodyear has been a hotbed of activity for the greater Phoenix market. However, the slow January saw new listings drop 8.6%, pending sales tumble 41.7% and closed sales down 8.5% compared to last year. The median price of a Goodyear home rose 1% to $485,000. However, single-family homes were selling faster in Goodyear, with the average days on market dropping from 79 to 77. At the same time, the months’ supply of inventory slipped slightly from 4.4 to 4.2 months.
Gilbert
In the southeast Valley, Gilbert saw numbers decline similarly to Scottsdale. Closed sales dipped 6.9%, new listings were down 19%, and pending sales retreated 35.3%. The median sales price of a home in Gilbert decreased slightly, 1.2%, to $568,000. The number of days homes sat on the market in the city increased 7.1% to 75 days. The months’ supply of inventory held basically steady at 2.8 months.
Peoria
In the northwest Valley, Peoria saw a 12.5% increase in sales, but pending sales dropped 27.7%, and new listings were down 4.1%. Days on the market grew significantly, from 72 to 92 days, a 27.8% increase, compared to last year. The median price of a home dropped slightly, 1.6%, to $539,000. The months’ supply of inventory increased slightly from 3.5 to 3.7 months.
Mesa
Closed sales in Mesa increased 9.2% in 2026 compared to 2025, but new listings and pending sales followed the market trends, down 7.9% and 31.9%, respectively. The median price of a single-family home in Mesa declined slightly to the market average, $475,000. The number of days a home sat on the market from listing to sale increased from 68 to 73 in 2026, and the months’ supply of inventory remained the same at 3.1 months.
