Navi Title Agency

Phoenix, AZ 85007

Single-Family Homes

Here is your weekly Market Update!



Phoenix, AZ 85007

Wed Apr 24 2024
This week the median list price for Phoenix, AZ 85007 is $499,800 with the market action index hovering around 49. This is about the same as last month's market action index of 49. Inventory has increased to 22. 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

Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.

Phoenix, AZ 85007

Wed Apr 24 2024
This week the median list price for Phoenix, AZ 85007 is $499,800 with the market action index hovering around 49. This is about the same as last month's market action index of 49. Inventory has increased to 22. 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

Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.

Real-Time Market Profile

Never miss important changes in the Phoenix market.
Median List Price $499,800
Median Price of New Listings $692,245
Per Square Foot $339
Average Days on Market 80
Median Days on Market 39
Price Decreased 45%
Price Increased 0%
Relisted 0%
Inventory 22
Median Rent
Market Action 49
Strong Seller's Market

We continue to see prices in this zip code bouncing around this plateau. Look for a persistent up-shift in the Market Action Index before we see prices move from these levels.

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
$799,500 2,401 0.25 - 0.5 acre 4 3 78 2 0 7
$549,900 1,544 6,500 - 8,000 sqft 3 2 88 1 0 28
$476,250 1,568 4,500 - 6,500 sqft 3 2 57 1 0 49
$389,500 1,303 4,500 - 6,500 sqft 3 2 75 0 1 45