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.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's 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|
|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.
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|