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Phoenix, AZ 85054

Single-Family Homes

Here is your weekly Market Update!



Phoenix, AZ 85054

Mon Dec 11 2023
This week the median list price for Phoenix, AZ 85054 is $875,995 with the market action index hovering around 67. This is less than last month's market action index of 76. Inventory has increased to 19. 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 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.

Phoenix, AZ 85054

Mon Dec 11 2023
This week the median list price for Phoenix, AZ 85054 is $875,995 with the market action index hovering around 67. This is less than last month's market action index of 76. Inventory has increased to 19. 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 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

Never miss important changes in the Phoenix market.
Median List Price $875,995
Median Price of New Listings $827,000
Per Square Foot $381
Average Days on Market 57
Median Days on Market 56
Price Decreased 37%
Price Increased 32%
Relisted 0%
Inventory 19
Median Rent
Market Action 67
Strong Seller's Market

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
$1,307,500 3,645 0.25 - 0.5 acre 4 3 24 0 1 73
$998,000 3,487 4,500 - 6,500 sqft 5 4 0 0 0 56
$842,520 2,121 4,500 - 6,500 sqft 3 3 0 1 0 49
$819,000 2,057 4,500 - 6,500 sqft 3 3 25 1 0 14