I would separate seller ambition from the prices that are actually closing.
Are you wondering whether current asking prices in Phoenix, AZ reflect what homes are really worth? I would be careful, because active homes and closed homes are not lining up at the same number right now.
The typical asking price among active homes in Phoenix, AZ was $475,000 last month, while the typical sold price was $448,250. New listings entered at a typical asking price of $489,900, which means many sellers are starting above where recent closings actually landed.
For buyers, that creates opportunity if you stay disciplined. My view is that the spread between new asking prices, active asking prices, and recent sold prices gives you a better framework for value than any single list price by itself.
Judge each home against recent closings first. Use the active asking level of $475,000 as a competition marker, not proof of value. Be prepared to walk away when a seller refuses to line up with recent sales.
