Empire Title Agency's Market Report

Phoenix, AZ 85045

Single-Family Homes

www.ewtaz.com | MarketReports@ewtaz.com | 602-749-7000



Phoenix, AZ 85045

Thu Mar 28 2024
This week the median list price for Phoenix, AZ 85045 is $537,450 with the market action index hovering around 48. This is an increase over last month's market action index of 45. Inventory has decreased to 16. Click here to stay informed with the Phoenix market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

Home sales have been exceeding new inventory for several weeks. However prices have not yet stopped falling. Since the market is already in the Seller's zone, expect prices to level off very soon. Should the sales trend continue expect that prices could climb from there.

Phoenix, AZ 85045

Thu Mar 28 2024
This week the median list price for Phoenix, AZ 85045 is $537,450 with the market action index hovering around 48. This is an increase over last month's market action index of 45. Inventory has decreased to 16. Click here to stay informed with the Phoenix market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

Home sales have been exceeding new inventory for several weeks. However prices have not yet stopped falling. Since the market is already in the Seller's zone, expect prices to level off very soon. Should the sales trend continue expect that prices could climb from there.

Real-Time Market Profile

Never miss important changes in the Phoenix market.
Median List Price $537,450
Median Price of New Listings $520,000
Per Square Foot $278
Average Days on Market 41
Median Days on Market 32
Price Decreased 38%
Price Increased 0%
Relisted 6%
Inventory 16
Median Rent
Market Action 48
Strong Seller's Market

Again this week in this zip code we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$1,112,000 3,313 8,000 - 10,000 sqft 4 4 22 0 1 10
$547,495 2,042 4,500 - 6,500 sqft 3 2.5 25 0 2 38
$522,500 1,954 0 - 4,500 sqft 3 3 21 1 0 31
$490,000 1,782 0 - 4,500 sqft 3 3 17 0 0 31