East Valley Housing Market Update: Steady Prices, More Choices, and Higher Mortgage Rates
The East Valley housing market continues to offer opportunities, but buyers and sellers face different challenges. Buyers have more homes to compare, while higher mortgage rates put additional pressure on monthly payments. Sellers compete for buyer attention even as overall sale prices remain relatively steady.
The latest September report from ARMLS provides useful context for anyone considering a move in Mesa, Gilbert, Chandler, Tempe, Queen Creek, or the surrounding communities. These figures cover the broader ARMLS market; individual neighborhoods and property types can perform differently.
Home prices held steady in September
The median sale price was $450,000, up approximately 1.1% from August and unchanged from September 2025.
The median time on market for sold homes was 63 days, compared with 64 in August and 66 a year earlier. These figures suggest sales are still moving forward, even as buyers have more choices.
For an individual seller, the most useful comparison is with homes similar in location, size, condition, and features. A steady marketwide median does not guarantee the same result for every property.
More listings are competing for buyers
September brought 9,350 new listings, up 15.0% from August. Available inventory, excluding UCB and CCBS contract statuses, reached 25,251 homes—up 7.9% monthly and 4.4% annually.
At the same time, homes under contract fell to 6,057, down about 10.4% from August. Months of supply rose to 4.45, up from 4.22 a month earlier.
My interpretation is that sellers need to pay close attention to the competition buyers can tour today. Recent closed sales help establish value, while active listings show the alternatives a buyer may choose.
Mortgage rates make the payment more important
Freddie Mac’s October 8 survey reported an average 30-year fixed mortgage rate of 7.40%, up from 7.28% the previous week and 6.30% a year earlier.
For example, a $445,000 purchase with 10% down would cost about $33 more per month in principal and interest at 7.40% than at 7.28%. That excludes taxes, insurance, mortgage insurance, HOA dues, and loan fees. Actual lender quotes depend on the borrower and financing terms.
Before making an offer, buyers should refresh their payment estimates. It may also be worth comparing a price reduction with seller-paid closing costs or a rate buydown. A lender can calculate which option offers the most value.
What should East Valley buyers and sellers do now?
For sellers: Make the home easy to show, address presentation concerns, and price against current competition. If activity is limited, review the price and condition alongside the available alternatives.
For buyers: Compare the total cost of ownership and consider each seller’s circumstances before negotiating. More inventory can create opportunities, but a well-priced home that meets your needs may still require a timely decision.
For relocation buyers: Narrow the search around your commute, budget, home style, and community preferences. Mesa, Gilbert, Chandler, Tempe, Scottsdale, Queen Creek, San Tan Valley, and Apache Junction each offer different choices. Nearby new construction and builder incentives may also affect your decision.
If you are thinking about buying or selling, I can help you evaluate recent sales, current listings, and the costs that matter for your particular move.
Brad Daniels, Realtor® | My Home GroupRelocateToAZ.com | 602-679-1025
Market sources: ARMLS September 2026 STAT report, published October 6, 2026; Freddie Mac Primary Mortgage Market Survey, October 8, 2026. ARMLS® COPYRIGHT 2026.
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