Mon Oct 03 2022
This week the median list price for Phoenix, AZ is $487,250 with the market action index hovering around 42. This is less than last month's market action index of 44. Inventory has held steady at or around 2,724.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
|Median List Price||$487,250|
|Median Price of New Listings||$464,950|
|Per Square Foot||$286|
|Average Days on Market||58|
|Median Days on Market||49|
|Slight Seller's Advantage|
The market has been on a downward trend recently and this week, while essentially flat, doesn’t break us out of that cycle.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$925,000||2,741||0.25 - 0.5 acre||4||3||29||83||77||56|
|$559,000||1,900||6,500 - 8,000 sqft||3||2||30||87||80||49|
|$435,000||1,632||6,500 - 8,000 sqft||3||2||40||80||68||42|
|$350,000||1,341||6,500 - 8,000 sqft||3||2||58||114||122||42|