Clear Title Agency of Arizona

Phoenix, AZ

Single-Family Homes

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Phoenix, AZ

Sun Jul 14 2024
This week the median list price for Phoenix, AZ is $584,990 with the market action index hovering around 45. This is less than last month's market action index of 46. Inventory has held steady at or around 1,897. 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 has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Phoenix, AZ

Sun Jul 14 2024
This week the median list price for Phoenix, AZ is $584,990 with the market action index hovering around 45. This is less than last month's market action index of 46. Inventory has held steady at or around 1,897. 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 has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Real-Time Market Profile

Never miss important changes in the Phoenix market.
Median List Price $584,990
Median Price of New Listings $499,900
Per Square Foot $305
Average Days on Market 67
Median Days on Market 42
Price Decreased 54%
Price Increased 3%
Relisted 6%
Inventory 1,897
Median Rent
Market Action 45
Strong Seller's Market

The market is hovering around this plateau. Look for a persistent change in the Market Action Index before we see prices deviate 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
$1,247,350 3,182 0.25 - 0.5 acre 4 4 24 38 60 56
$699,000 2,217 6,500 - 8,000 sqft 4 3 34 51 55 49
$499,000 1,769 6,500 - 8,000 sqft 3 2 38 72 73 35
$385,000 1,397 6,500 - 8,000 sqft 3 2 52 90 110 35