Your Localized Market Report

Phoenix, AZ 85085

Single-Family Homes

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Phoenix, AZ 85085

Mon Jan 17 2022
This week the median list price for Phoenix, AZ 85085 is $757,000 with the market action index hovering around 66. This is an increase over last month's market action index of 65. Inventory has increased to 27. 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 85085

Mon Jan 17 2022
This week the median list price for Phoenix, AZ 85085 is $757,000 with the market action index hovering around 66. This is an increase over last month's market action index of 65. Inventory has increased to 27. 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 $757,000
Median Price of New Listings $599,900
Per Square Foot $271
Average Days on Market 59
Median Days on Market 35
Price Decreased 30%
Price Increased 7%
Relisted 0%
Inventory 27
Median Rent $2,995
Market Action 66
Strong Seller's Market

Prices in this zip code seem to have settled around a 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
$1,159,950 3,321 0.5 - 1 acre 4 3.5 13 2 1 7
$859,000 3,220 8,000 - 10,000 sqft 4 3.5 16 0 0 49
$692,000 3,078 8,000 - 10,000 sqft 4 3 14 1 3 21
$599,000 2,128 6,500 - 8,000 sqft 3 2.5 16 4 1 56