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Phoenix, AZ 85007

Single-Family Homes

Here is your weekly Market Update!



Phoenix, AZ 85007

Sat May 10 2025
This week the median list price for Phoenix, AZ 85007 is $565,000 with the market action index hovering around 34. This is about the same as last month's market action index of 34. Inventory has increased to 40. 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.

Slight Seller's Advantage

Market Narrative

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 85007

Sat May 10 2025
This week the median list price for Phoenix, AZ 85007 is $565,000 with the market action index hovering around 34. This is about the same as last month's market action index of 34. Inventory has increased to 40. 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.

Slight Seller's Advantage

Market Narrative

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 $565,000
Median Price of New Listings $2,062,500
Per Square Foot $366
Average Days on Market 112
Median Days on Market 63
Price Decreased 68%
Price Increased 5%
Relisted 8%
Inventory 40
Median Rent
Market Action 34
Slight Seller's Advantage

Again this week we see a downward notch for prices in this zip code. Pricing has been weak recently and versus their absolute-high level. 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
$1,240,444 2,702 8,000 - 10,000 sqft 3 3 86 1 0 66
$664,950 1,838 6,500 - 8,000 sqft 3 2 81 1 2 73
$482,000 1,359 4,500 - 6,500 sqft 3 2 84 0 0 63
$335,000 1,171 4,500 - 6,500 sqft 3 2 76 0 1 49