Tue Oct 20 2020
This week the median list price for Phoenix, AZ 85048 is $649,000 with the market action index hovering around 61. This is about the same as last month's market action index of 61. Inventory has held steady at or around 45.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$649,000|
|Per Square Foot||$211|
|Days on Market||65|
|Strong Seller's Market|
In the last few weeks we’ve seen prices in this zip code bouncing around this plateau. Look for a persistent down-shift in the Market Action Index before we see prices deviate from these levels.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$1,449,900||5,500||0.5 - 1 acre||5||4||19||0||0||152|
|$723,850||3,307||0.25 - 0.5 acre||4||3||29||0||1||71|
|$575,000||3,044||8,000 - 10,000 sqft||4||3||29||2||3||22|
|$389,949||1,849||0 - 4,500 sqft||3||2||26||7||5||17|