First American Title Market Report
Phoenix, AZ 85048
Single-Family Homes
Phoenix, AZ 85048
Fri May 01 2026
This week the median list price for Phoenix, AZ 85048 is $649,825 with the market action index hovering around 39. This is an increase over last month's market action index of 37. Inventory has increased to 96.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
Market Narrative
The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
Real-Time Market Profile
| Median List Price | $649,825 | |
| Median Price of New Listings | $728,700 | |
| Per Square Foot | $302 | |
| Average Days on Market | 93 | |
| Median Days on Market | 56 | |
| Price Decreased | 50% | |
| Price Increased | 3% | |
| Relisted | 6% | |
| Inventory | 96 | |
| Median Rent | ||
| Market Action | 39 | |
| Slight Seller's Advantage | ||
We continue to see prices in this zip code hover around their high point. Look for a persistent shift in the Market Action Index before we see prices deviate from these levels.
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 |
|---|---|---|---|---|---|---|---|---|
| $1,325,000 | 3,864 | 0.25 - 0.5 acre | 5 | 4 | 26 | 4 | 1 | 38 |
| $699,950 | 2,567 | 6,500 - 8,000 sqft | 4 | 3 | 33 | 1 | 3 | 77 |
| $597,450 | 2,083 | 4,500 - 6,500 sqft | 4 | 3 | 35 | 3 | 4 | 63 |
| $499,495 | 1,699 | 4,500 - 6,500 sqft | 3 | 2.3 | 32 | 2 | 1 | 59 |