Navi Title Agency

Phoenix, AZ 85007

Single-Family Homes

Here is your weekly Market Update!



Phoenix, AZ 85007

Fri Jun 02 2023
This week the median list price for Phoenix, AZ 85007 is $649,900 with the market action index hovering around 53. This is less than last month's market action index of 54. Inventory has held steady at or around 15. 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 continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.

Phoenix, AZ 85007

Fri Jun 02 2023
This week the median list price for Phoenix, AZ 85007 is $649,900 with the market action index hovering around 53. This is less than last month's market action index of 54. Inventory has held steady at or around 15. 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 continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.

Real-Time Market Profile

Never miss important changes in the Phoenix market.
Median List Price $649,900
Median Price of New Listings $400,000
Per Square Foot $411
Average Days on Market 86
Median Days on Market 63
Price Decreased 53%
Price Increased 0%
Relisted 7%
Inventory 15
Median Rent
Market Action 53
Strong Seller's Market

The market for this zip code continues its bounce again this week. We're a long way from the market's high point so watch the Market Action Index to predict how long this trend will last.

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
$1,075,000 2,449 8,000 - 10,000 sqft 3 2 89 0 0 21
$762,000 1,679 6,500 - 8,000 sqft 3 1.5 85 0 0 24
$592,499 1,639 6,500 - 8,000 sqft 3 2 85 0 1 94
$397,450 1,105 6,500 - 8,000 sqft 2 1.5 88 1 1 52