Your Localized Market Report

Phoenix, AZ 85041

Single-Family Homes

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Phoenix, AZ 85041

Wed Jul 06 2022
This week the median list price for Phoenix, AZ 85041 is $469,950 with the market action index hovering around 75. This is less than last month's market action index of 81. Inventory has increased to 86. 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

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.

Phoenix, AZ 85041

Wed Jul 06 2022
This week the median list price for Phoenix, AZ 85041 is $469,950 with the market action index hovering around 75. This is less than last month's market action index of 81. Inventory has increased to 86. 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

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

Never miss important changes in the Phoenix market.
Median List Price $469,950
Median Price of New Listings $420,000
Per Square Foot $254
Average Days on Market 35
Median Days on Market 14
Price Decreased 43%
Price Increased 5%
Relisted 6%
Inventory 86
Median Rent
Market Action 75
Strong Seller's Market

We continue to see prices in this zip code bounce around this plateau. Look for a persistent down-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
$624,999 2,937 8,000 - 10,000 sqft 4 3 17 3 2 21
$501,000 2,164 6,500 - 8,000 sqft 4 2 17 2 2 21
$432,500 1,717 4,500 - 6,500 sqft 3 2 17 7 5 7
$357,500 1,289 6,500 - 8,000 sqft 3 2 63 8 4 10