Here's something interesting about our Greater Phoenix real estate market!

In September 2026, homes sold for an average of 98.1% of their asking price. So, if a home was listed at $450,000, that would mean a selling price of approximately $441,450.

Sounds like buyers should automatically offer 2% less, right?

Well, not so fast!

That number is an average, and averages don't tell the whole story.

A home that's priced right, beautifully maintained, and in a desirable neighborhood may sell at full asking price—or even higher. Meanwhile, a home that's overpriced or needs some TLC may give buyers more room to negotiate.

Here's what I always tell my buyers: Don't make an offer based on a percentage. Make an offer based on what the home is actually worth.

Let's look at what that 98.1% really means and how you can use it to make smarter decisions, whether you're buying or selling.

What Is the Sale-to-List Ratio?

It compares the final sale price to the last list price. Phoenix REALTORS® reported a sale-to-list ratio of 98.1% for Greater Phoenix single-family homes in September 2026, unchanged from a year earlier. On a $450,000 list price, 98.1% is roughly $441,450. That's about $8,550 below list on average.

Why Is It Only an Average?

Because it blends very different homes. Some homes sell at or above list, especially well-priced, well-presented ones that get quick attention. Others sell well below list after sitting for a while or after one or more price reductions. A single ratio for the whole metro can't tell you which category a particular home belongs in.

What Else Does It Not Tell You?

It's measured against the last list price, so a home that was reduced before selling can show a high ratio even if the original price was much higher. It also doesn't show seller credits, repair concessions, or other terms that change what the seller actually nets or what the buyer actually pays.

What Else Is Going On in the Market?

For context, the same September data showed Greater Phoenix homes averaging 77 days on market (78 days year to date), inventory up 6.7% from a year earlier, and 4.3 months' supply. In plain terms, buyers have somewhat more choice and time than they did a year ago, which can give them more room to negotiate on homes that have been sitting.

What Should Buyers Do With This?

Look at the individual home, not the average. How long has it been listed? Has the price changed? What are similar homes nearby actually selling for? Those answers tell you how much room there may be. I can pull recent comparable sales to support an offer.

What Should Sellers Do With This?

Price from recent comparable sales, not from the list price you hope for. Homes that are priced accurately from day one tend to attract the strongest early interest, and starting high and reducing later can cost you time. I can walk you through the comparables for your street.

Frequently Asked Questions

What is a sale-to-list ratio? It compares a home's final sale price to its last list price, expressed as a percentage.

What was the sale-to-list ratio in Greater Phoenix in September 2026? Phoenix REALTORS® reported 98.1% for single-family homes, unchanged from a year earlier.

Should I offer 2% below list price if the average is 98%? Not automatically. The average blends many different homes, so look at the specific home's time on market, price history, and nearby comparable sales.

Does the sale-to-list ratio include seller credits? No. It compares sale price to list price and doesn't show credits, repairs, or other terms.

☕ Let's Have a Little Cafecito with Gracie!

Whether you're thinking about buying, selling, or simply wondering what your home is worth, let's sit down, enjoy a little cafecito, and have a corazón a corazón conversation about your home.

No pressure, no obligation—just good conversation, honest advice, and a plan that's right for YOU!

Gracie Vega
The Vega Real Estate Group | Realty ONE Group
📞 602-348-8773
We Make Your Home Famous! 🏡❤️

This content is provided for informational purposes only and does not constitute legal or financial advice. All real estate services are provided in compliance with Fair Housing laws, RESPA, TCPA, the REALTOR® Code of Ethics, and Arizona Department of Real Estate advertising regulations. Equal Housing Opportunity. Gracie Vega, Realty One Group, AZ License #SA514613000.

Gracie Vega
Realty One Group
License #SA514613000
602.348.8773
gracie@vegarealestate.com

Gracie Vega is an experienced Arizona real estate professional with The Vega Real Estate Group at Realty ONE Group, serving Phoenix and the West Valley, including Glendale, Peoria, Surprise, Buckeye, Goodyear, Avondale, and Tolleson.

Whether you're buying your first home, selling a property, exploring new construction, or relocating to Arizona, Gracie provides local real estate guidance in English and Spanish.

The Vega Real Estate Group — We Make Your Home Famous!
Visit: https://thevegarealestategroup.com
Have a real estate question? Contact Gracie to schedule a personal consultation.