Lawyers Title Market Report

Phoenix, AZ 85085

Single-Family Homes

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Phoenix, AZ 85085

Mon Jun 21 2021
This week the median list price for Phoenix, AZ 85085 is $780,000 with the market action index hovering around 85. This is less than last month's market action index of 87. 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

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

Phoenix, AZ 85085

Mon Jun 21 2021
This week the median list price for Phoenix, AZ 85085 is $780,000 with the market action index hovering around 85. This is less than last month's market action index of 87. 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

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

Real-Time Market Profile

Never miss important changes in the Phoenix market.
Median List Price $780,000
Median Price of New Listings $707,450
Per Square Foot $258
Average Days on Market 18
Median Days on Market 7
Price Decreased 22%
Price Increased 7%
Relisted 0%
Inventory 27
Median Rent $2,495
Market Action 85
Strong Seller's Market

While the median price in this zip code hasn’t moved much in the last few weeks, we are relatively close to the market’s high-water mark. Watch for persistent downward shift in the Market Action Index into the Buyer’s zone as a leading indicator of the price strength subsiding.

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
$992,500 3,523 1 - 2.5 acres 4 3 15 2 2 21
$875,000 3,241 8,000 - 10,000 sqft 4 3 15 2 0 14
$745,000 2,910 0.25 - 0.5 acre 4 3 15 3 1 7
$465,000 2,166 0 - 4,500 sqft 3 2 15 5 5 0