The standoff between buyers and sellers continues — and I don't see it breaking anytime soon. Sellers are still trying to maximize price, but affordability is the ceiling in the lower and middle-market. To move product, you either lower the price or buy down the rate with closing cost assistance. Simple as that.
Rates are now tied to the price of oil — a relatively new dynamic that emerged with the war. Watch oil, watch rates. What I'm noticing, though, is that buyer fatigue is real. People have been sitting on the sidelines so long that they're finally accepting reality: if you want the house, you're going to pay for it even in a higher-rate environment. "Date the rate, marry the house" applies more than ever — and I'm seeing it play out in the North Valley communities I know best. In Anthem, Cave Creek, and Desert Hills, buyers who've been circling quality properties for months are starting to pull the trigger.
The implication for sellers in those markets: if a buyer is coming off the sideline and committing, that home had better be right. Condition and presentation are not optional. If it's the right house, they will pay. If it isn't, they'll walk.
Cromford market snapshot — May 1, 2026 vs. May 1, 2025
Active listings
25,908
↓ 1.1% year-over-year
+1.2% vs. last month
Pending listings
5,492
↑ 3.1% year-over-year
Under contract
9,746
↑ 7.7% year-over-year
Strong demand signal
Monthly sales
7,719
↑ 5.4% year-over-year
Median sale price
$450K
↑ 1.1% year-over-year
↓ 1.1% vs. last month
Avg $/sq ft
$303
↑ 1.4% year-over-year
↓ 3.4% vs. last month
What the numbers mean for you
Supply peaked late — a negative signal for sellers metro-wide. Active listings are down year-over-year, but the peak arrived later in the season than normal. The typical spring momentum faded faster than expected. If you're a seller and you missed the early spring window, be realistic about where pricing needs to land.
Single-family demand is solid — especially in the North Valley.Anthem continues to attract family buyers drawn to its master-planned infrastructure and price points that still feel accessible relative to inner Scottsdale. Cave Creek and Desert Hills are holding up well for buyers who want acreage, custom builds, and a lifestyle the core valley can't offer. Demand is weakest for condos, townhomes, and anything under $500K metro-wide — but detached single-family in these communities is a different story.
Location still decides who holds the power. Sellers control central and higher-priced corridors. In Cave Creek and Desert Hills — where lot sizes, privacy, and custom finishes drive value — well-priced properties are still finding motivated buyers. Anthem is more nuanced: move-in ready homes in the right neighborhoods sell; anything needing work or priced optimistically is sitting. Buyers control the outer fringes and properties below $500K across the board.
Inflation-adjusted, prices are effectively flat or down. The median is up 1.1% from last year in nominal terms — but when adjusted for inflation, both median price and price per square foot are below year-ago levels. This is the honest read sellers in every market, including Anthem, Cave Creek, and Desert Hills, need to factor into their expectations heading into summer.
Get a straight answer on your specific situation.
Whether you're buying or selling in Anthem, Cave Creek, Desert Hills, or anywhere across the Phoenix metro — book a call and let's talk through what the market actually means for you.
Jonathan Baer — Designated Broker, Dominion Group Properties
30+ years of real estate experience · 1,299+ closed transactions · $309M+ in closed volume · Licensed Broker (BR571739000) & Loan Officer (NMLS 1904177) · Serving Phoenix, Scottsdale, Cave Creek, Carefree, Anthem, New River & Desert Hills. Learn more about Jonathan →
