Your Localized Market Report

Phoenix, AZ 85028

Single-Family Homes

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Phoenix, AZ 85028

Thu Jan 20 2022
This week the median list price for Phoenix, AZ 85028 is $612,450 with the market action index hovering around 77. This is an increase over last month's market action index of 73. Inventory has decreased to 12. 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

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 85028

Thu Jan 20 2022
This week the median list price for Phoenix, AZ 85028 is $612,450 with the market action index hovering around 77. This is an increase over last month's market action index of 73. Inventory has decreased to 12. 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

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 $612,450
Median Price of New Listings $787,500
Per Square Foot $334
Average Days on Market 50
Median Days on Market 56
Price Decreased 25%
Price Increased 8%
Relisted 0%
Inventory 12
Median Rent $5,498
Market Action 77
Strong Seller's Market

Again this week we see prices in this zip code remain roughly at the level they’ve been for several weeks. Since we’re significantly below the top of the market, 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
$850,000 2,535 0.25 - 0.5 acre 3 3 49 2 2 0
$709,900 1,998 8,000 - 10,000 sqft 3 2 51 2 1 0
$584,000 2,035 8,000 - 10,000 sqft 3 2 58 0 2 63
$530,000 1,522 8,000 - 10,000 sqft 3 2 52 0 2 91