First American Title Market Report
Phoenix, AZ 85048
Single-Family Homes
Phoenix, AZ 85048
Wed Jan 15 2025
This week the median list price for Phoenix, AZ 85048 is $644,000 with the market action index hovering around 38. This is less than last month's market action index of 40. Inventory has held steady at or around 63.
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 started cooling and prices have recently plateaued. Since 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 | $644,000 | |
| Median Price of New Listings | $0 | |
| Per Square Foot | $312 | |
| Average Days on Market | 87 | |
| Median Days on Market | 77 | |
| Price Decreased | 48% | |
| Price Increased | 3% | |
| Relisted | 3% | |
| Inventory | 63 | |
| Median Rent | ||
| Market Action | 38 | |
| Slight Seller's Advantage | ||
We continue to see prices in this zip code bouncing around this plateau. Look for a persistent up-shift in the Market Action Index before we see prices move 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 |
|---|---|---|---|---|---|---|---|---|
| $1,123,500 | 3,650 | 0.25 - 0.5 acre | 4 | 3 | 32 | 0 | 1 | 84 |
| $774,950 | 2,950 | 6,500 - 8,000 sqft | 4 | 3 | 31 | 0 | 1 | 52 |
| $589,500 | 1,937 | 4,500 - 6,500 sqft | 3 | 3 | 32 | 0 | 2 | 77 |
| $499,000 | 1,579 | 4,500 - 6,500 sqft | 3 | 2 | 37 | 0 | 0 | 42 |