Clear Title Agency of Arizona

Phoenix, AZ

Single-Family Homes

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Phoenix, AZ

Wed Feb 21 2024
This week the median list price for Phoenix, AZ is $600,000 with the market action index hovering around 44. This is an increase over last month's market action index of 43. Inventory has decreased to 1,611. 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

While the Market Action Index shows some strengthening in the last few weeks, prices have not seemed to move from their plateau. Should the upward trend in sales relative to inventory continue, expect prices to resume an upward climb in tandem with the MAI.

Phoenix, AZ

Wed Feb 21 2024
This week the median list price for Phoenix, AZ is $600,000 with the market action index hovering around 44. This is an increase over last month's market action index of 43. Inventory has decreased to 1,611. 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

While the Market Action Index shows some strengthening in the last few weeks, prices have not seemed to move from their plateau. Should the upward trend in sales relative to inventory continue, expect prices to resume an upward climb in tandem with the MAI.

Real-Time Market Profile

Never miss important changes in the Phoenix market.
Median List Price $600,000
Median Price of New Listings $562,000
Per Square Foot $308
Average Days on Market 74
Median Days on Market 42
Price Decreased 46%
Price Increased 5%
Relisted 7%
Inventory 1,611
Median Rent
Market Action 44
Slight Seller's Advantage

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
$1,360,000 3,294 0.25 - 0.5 acre 4 4 23 57 29 70
$725,000 2,220 6,500 - 8,000 sqft 4 3 31 45 54 35
$500,000 1,817 6,500 - 8,000 sqft 3 2 33 62 60 35
$381,900 1,410 6,500 - 8,000 sqft 3 2 53 70 88 35