Phoenix Market Sales Are In The Dumps - Here Are Examples - Prices are Way Too High

[Ken M.]

Phoenix has had a serious negative turn-around There are about 3,000 listings in the area that are now over 90 days on market. In April the number was about 2,200. Seems good for buyers, but sellers haven't understood that they can't get the price they used to get.

I picked by random, some properties bought in 2022 that are currently on the market today Aug 4 2025. These all were bought in 2022 and are currently listed for sale. I project about 7% cost of sales (loss) when you calculate real estate agent, and closing costs. 

This is to show that it isn't always worth buying a property. It doesn't always go up. Your time frame for selling can have a huge impact

	Property		Status	8/4/2025	Orig		Reduced To	Decline
Address	Bought Amount	Last Bought	Active	1st Listed	List Amount	DOM	Today	Since Listing
3619 E MONTEROSA ST APT 202	$200,000	6/24/2022	Active	6/19/2025	$199,900	46	$189,990	($9,910)
5345 E VAN BUREN ST UNIT 307	$199,000	3/3/2022	Active	5/23/2025	$230,000	73	$223,500	($6,500)
2941 N 19TH AVE UNIT 84	$215,000	2/18/2022	Active	9/2/2024	$249,900	336	$237,800	($12,100)
10610 S 48TH ST UNIT 1074	$288,500	3/11/2022	Active	4/28/2025	$259,000	98	$259,000	$0
3414 W MARCO POLO RD	$329,999	11/21/2022	Active	7/11/2025	$350,000	24	$350,000	$0
1319 E PIUTE AVE	$390,000	4/6/2022	Active	7/25/2025	$412,000	10	$421,000	$9,000
19202 N 14TH ST	$420,000	5/19/2022	Active	4/18/2025	$425,000	108	$417,900	($7,100)
3054 W REDFIELD RD	$420,000	8/5/2022	Active	5/21/2025	$442,000	75	$436,000	($6,000)
3215 W PHELPS RD	$405,000	2/10/2022	Sold	4/15/2025	$430,000	101	$445,000	$15,000
4343 N 21ST ST APT 217	$389,900	4/28/2022	Active	7/9/2025	$469,000	26	$449,000	($20,000)
3131 E LEGACY DR UNIT 1093	$370,000	9/15/2022	Active	3/29/2025	$475,000	128	$460,000	($15,000)
426 E MORROW DR	$452,000	5/12/2022	Active	7/4/2025	$465,000	31	$449,900	($15,100)
1534 E PIERCE ST	$555,000	8/26/2022	Active	2/28/2025	$599,000	157	$537,500	($61,500)
1332 E CHARLESTON AVE	$0	3/9/2022	Rental	6/12/2025	$574,900	53	$549,900	($25,000)
4240 E BLUEFIELD AVE	$416,000	1/24/2022	Active	5/15/2025	$625,000	81	$599,950	($25,050)
1115 E MCKINLEY ST	$600,000	6/24/2022	Active	3/6/2025	$699,900	151	$625,000	($74,900)
16609 S 14TH ST	$590,000	1/6/2022	Active	7/11/2025	$669,000	24	$669,000	$0
313 W VERNON AVE	$737,500	11/1/2022	Active	7/7/2025	$835,000	28	$799,000	($36,000)
102 W ALMERIA RD	$1,200,000	10/19/2022	Active	3/13/2025	$1,625,000	144	$1,525,000	($100,000)

And there are costs of sale. Around 7%

	Property			Loss/	Actual	Probable
Address	Bought Amount	Last Bought	Recently Reduced To	Gain	Market Value	Loss
3619 E MONTEROSA ST APT 202	$200,000	6/24/2022	$189,990	($10,010)	$167,200	($22,790)
5345 E VAN BUREN ST UNIT 307	$199,000	3/3/2022	$223,500	$24,500	$187,100	($36,400)
2941 N 19TH AVE UNIT 84	$215,000	2/18/2022	$237,800	$22,800	$178,200	($59,600)
10610 S 48TH ST UNIT 1074	$288,500	3/11/2022	$259,000	($29,500)	$207,300	($51,700)
3414 W MARCO POLO RD	$329,999	11/21/2022	$350,000	$20,001	$264,300	($85,700)
1319 E PIUTE AVE	$390,000	4/6/2022	$421,000	$31,000	$322,700	($98,300)
19202 N 14TH ST	$420,000	5/19/2022	$417,900	($2,100)	$296,100	($121,800)
3054 W REDFIELD RD	$420,000	8/5/2022	$436,000	$16,000	$365,000	($71,000)
3215 W PHELPS RD	$405,000	2/10/2022	$445,000	$40,000	$339,800	($105,200)
4343 N 21ST ST APT 217	$389,900	4/28/2022	$449,000	$59,100	$286,100	($162,900)
3131 E LEGACY DR UNIT 1093	$370,000	9/15/2022	$460,000	$90,000	$339,500	($120,500)
426 E MORROW DR	$452,000	5/12/2022	$449,900	($2,100)	$315,800	($134,100)
1534 E PIERCE ST	$555,000	8/26/2022	$537,500	($17,500)	$355,500	($182,000)
1332 E CHARLESTON AVE	$0	3/9/2022	$549,900	$549,900	$438,000	$0
4240 E BLUEFIELD AVE	$416,000	1/24/2022	$599,950	$183,950	$398,000	($201,950)
1115 E MCKINLEY ST	$600,000	6/24/2022	$625,000	$25,000	$388,300	($236,700)
16609 S 14TH ST	$590,000	1/6/2022	$669,000	$79,000	$441,800	($227,200)
313 W VERNON AVE	$737,500	11/1/2022	$799,000	$61,500	$596,200	($202,800)
102 W ALMERIA RD	$1,200,000	10/19/2022	$1,525,000	$325,000	$977,200	($547,800)