Your Localized Market Report

Phoenix, AZ 85020

Single-Family Homes

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Phoenix, AZ 85020

Fri Jul 01 2022
This week the median list price for Phoenix, AZ 85020 is $577,450 with the market action index hovering around 65. This is less than last month's market action index of 70. Inventory has increased to 56. 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 have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to 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 85020

Fri Jul 01 2022
This week the median list price for Phoenix, AZ 85020 is $577,450 with the market action index hovering around 65. This is less than last month's market action index of 70. Inventory has increased to 56. 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 have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to 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 $577,450
Median Price of New Listings $557,250
Per Square Foot $330
Average Days on Market 37
Median Days on Market 25
Price Decreased 48%
Price Increased 4%
Relisted 2%
Inventory 56
Median Rent
Market Action 65
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
$1,189,500 2,984 0.25 - 0.5 acre 4 3 48 4 1 21
$677,500 2,104 8,000 - 10,000 sqft 3 2.5 48 2 4 31
$501,000 1,558 6,500 - 8,000 sqft 3 2 62 4 5 17
$372,450 1,100 4,500 - 6,500 sqft 3 2 71 4 1 24