Happy Tuesday, friends!

From buzzy new wellness studios in Scottsdale to padel clubs launching their national takeover from Tempe, this week’s updates have a little bit of everything. Whether you're curious about what's popping up in your neighborhood or trying to keep tabs on how the market is holding up, you're in the right place.

The Recap

The East Valley has a lot going on. Conquer Padel is opening its first club in Tempe this August, bringing a fresh twist to the court sport craze. Just a few miles north, bluSONIL is launching its first-ever wellness and regenerative aesthetic studio in Scottsdale Quarter later this year. Meanwhile, a beloved Mesa sandwich shop is closing its doors after 17 years, and a new mixed-use development in Gilbert will bring everything from luxury apartments to bread, tacos, and vet clinics under one roof.

Out West, Goodyear is getting a new Mitsubishi dealership, Peoria has leasing underway for a long-awaited downtown apartment project, and a major industrial facility in Litchfield Park just sold for over 128 million. Peoria is also getting a new local sports bar with 21 massive TVs and an all-day happy hour to kick off its opening week.

The real estate market is… complicated. Prices ticked up slightly in June, but pending sales and contract activity continue to weaken. The market is tilting toward buyers, especially for condos and entry-level homes, while luxury properties are holding steadier. The numbers tell a story worth watching—so we break it all down in the trends section below.
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_{Rates vary based on credit score, loan type, and lender policies. For the most accurate estimate, consult with a lender.}

East Valley News & Developments

National Padel Club Launching in Tempe

Conquer Padel, a fast-growing sports and wellness brand, is opening its first U.S. location in Tempe this August. The 19,000-square-foot facility will include five indoor padel courts, a recovery room, smoothie bar, co-working lounge, and locker rooms. Padel is a mix between tennis and squash and is gaining major traction across Europe and Latin America. Conquer has plans to expand to Scottsdale, Chandler, Gilbert, and the West Valley next.
📍 Tempe
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Wellness Brand Opening First Studio at Scottsdale Quarter

bluSONIL, a regenerative aesthetic and wellness company, will open its first studio this year at Scottsdale Quarter. The concept combines med spa treatments with functional wellness services—everything from skin rejuvenation and IV therapy to hormone optimization and body contouring. The brand plans to expand nationwide with Scottsdale as its flagship.
📍 Scottsdale Quarter
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Gilbert Mixed-Use Project to Include Tacos, Bread, and More

A new mixed-use development from Creation and Greenlight Communities is moving forward in Gilbert. Located near Gilbert and Germann Roads, the project will feature a 155-unit apartment complex alongside retail space already pre-leased to Chilte, Proof Bread, Chula Seafood, and Modern Animal veterinary clinic. Construction starts later this year, with opening targeted for 2026.
📍 Gilbert & Germann Roads, Gilbert
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Iconic Mesa Sandwich Shop to Close After 17 Years

TWorth Takeaway, the much-loved sandwich shop in Downtown Mesa, is closing its original location this summer. The owners cited long-term goals and new projects ahead but haven’t yet announced future plans. Worth has been a staple in the East Valley food scene, known for its craft sandwiches, breakfast burritos, and strong community following.
📍 Downtown Mesa
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West Valley News & Developments

Goodyear Getting a New Mitsubishi Dealership

The Avondale Group just closed on 4.5 acres in Goodyear to build a new Mitsubishi dealership. The site is located right next to the group's existing Honda and Subaru stores, forming a mini auto hub near I-10 and Bullard. Construction will start this fall, with the new dealership expected to open in late 2025.
📍 I-10 & Bullard Avenue, Goodyear
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Peoria Leasing Kicks Off at Downtown Apartments

The first new apartments in Peoria’s Old Town core in nearly a decade are now leasing. The 157-unit complex, developed by Vintage Partners, is part of the larger Peoria Central revitalization effort. Floorplans include studios, one-bedrooms, and two-bedrooms. Leasing launched this month, with move-ins expected later this summer.
📍 Peoria Central, Old Town Peoria
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Litchfield Park Industrial Property Sells for $128.5M

A massive industrial campus in Litchfield Park just sold for $128.5 million. The 906,125-square-foot facility was purchased by Black Creek Group and is fully leased to a single tenant. The site is part of the booming industrial corridor in the Loop 303 area, which continues to see record-level demand from logistics and manufacturing companies.
📍 Loop 303 Corridor, Litchfield Park
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New Local Sports Bar Opens in Peoria

The Walk-On’s Sports Bistreaux has officially opened near the Peoria Sports Complex. The Louisiana-inspired restaurant and sports bar features 21 large-screen TVs, southern-style pub food, and an all-day happy hour to celebrate opening week. The brand has plans to expand in the West Valley, with additional locations being considered in Surprise and Goodyear.
📍 Peoria Sports Complex area
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🏡 Real Estate Trends

Prices edged up again in June—but the bigger story is demand.

The average price per square foot ticked up slightly this month, coming in at three hundred one dollars and forty cents. That is up from just under three hundred dollars last month and reflects a little seasonal bump. But don’t get too excited if you are a seller—because demand is still sliding.

Here is what the latest numbers tell us:

📈 Average Price per Sq Ft $301.40 (up from $299.27 last month)
📉 Contract Ratio 37.3 (down 7 percent month-over-month)
📉 Cromford Market Index (CMI) 74.5 (still deep in buyer territory)
📉 Median Days on Market 52 (up from 45 days in April)

Buyers are being cautious and patient. With mortgage rates still hovering near seven percent, many are waiting it out or negotiating hard. Homes that are move-in ready and priced right are still selling, but sellers have far less leverage than they did even six months ago.

The contract ratio—which measures demand relative to supply—has now fallen for five straight months. A ratio below 40 usually points to a buyer’s market, and we are now at 37.3.

The CMI backs that up. Most cities across the Valley remain in either balanced or buyer-favoring territory. Just three cities are still in a weak seller’s market, and that could change soon if trends continue.

The takeaway?
We are in a pricing plateau with low demand. If you're selling, focus on being competitive right out of the gate. If you're buying, you're in a much better spot than this time last year—but patience is still your best tool.
Check current mortgage rates
_{Mortgage rates vary based on individual qualifications, including credit score, loan type, and lender policies. For a personalized rate estimate, it’s best to consult with a lender.}

🌵See You Next Week in the Desert

That's a wrap for this week's edition of The Desert Real.

Between major infrastructure openings, expansion announcements, and a market that's rewarding luxury while challenging everyone else, the Valley continues to evolve in unexpected ways. Whether you're tracking developments in your neighborhood or trying to time the market, we've got you covered.

If you spot something interesting or have questions about anything you see here, just hit reply and let me know. We'd love to hear from you.

See you next week!

-Brad