Your Localized Market Report

Phoenix, AZ 85085

Single-Family Homes

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Phoenix, AZ 85085

Wed Jul 06 2022
This week the median list price for Phoenix, AZ 85085 is $737,150 with the market action index hovering around 59. This is less than last month's market action index of 68. Inventory has increased to 62. 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 off consistently for several weeks, as more homes are available and demand is less. We have begun to seen prices move lower as a result. If the MAI falls into the Buyer’s zone, it is likely that prices continue their downward trend until we see some turnaround in Market Action.

Phoenix, AZ 85085

Wed Jul 06 2022
This week the median list price for Phoenix, AZ 85085 is $737,150 with the market action index hovering around 59. This is less than last month's market action index of 68. Inventory has increased to 62. 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 off consistently for several weeks, as more homes are available and demand is less. We have begun to seen prices move lower as a result. If the MAI falls into the Buyer’s zone, it is likely that prices continue their downward trend until we see some turnaround in Market Action.

Real-Time Market Profile

Never miss important changes in the Phoenix market.
Median List Price $737,150
Median Price of New Listings $720,000
Per Square Foot $292
Average Days on Market 33
Median Days on Market 21
Price Decreased 42%
Price Increased 2%
Relisted 6%
Inventory 62
Median Rent
Market Action 59
Strong Seller's Market

Again this week we see a downward notch for prices in this zip code. We continue to pull back from the market’s highs. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.

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
$1,295,000 4,436 0.25 - 0.5 acre 5 3.5 16 4 0 28
$850,000 2,859 0.25 - 0.5 acre 4 2.5 16 4 2 14
$696,750 2,550 6,500 - 8,000 sqft 4 2.5 10 5 1 24
$549,900 2,037 4,500 - 6,500 sqft 3 2.5 17 6 2 7