Lawyers Title Market Report

Phoenix, AZ 85028

Single-Family Homes

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Phoenix, AZ 85028

Mon Jun 21 2021
This week the median list price for Phoenix, AZ 85028 is $650,000 with the market action index hovering around 93. This is less than last month's market action index of 95. Inventory has increased to 20. 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

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

Phoenix, AZ 85028

Mon Jun 21 2021
This week the median list price for Phoenix, AZ 85028 is $650,000 with the market action index hovering around 93. This is less than last month's market action index of 95. Inventory has increased to 20. 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

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

Real-Time Market Profile

Never miss important changes in the Phoenix market.
Median List Price $650,000
Median Price of New Listings $475,000
Per Square Foot $285
Average Days on Market 21
Median Days on Market 18
Price Decreased 30%
Price Increased 0%
Relisted 0%
Inventory 20
Median Rent $2,600
Market Action 93
Strong Seller's Market

Recently prices in this zip have settled at a plateau even though they dipped this week. Look for a persistent up-shift in the Market Action Index before we see prices significantly 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
$1,850,000 3,898 0.5 - 1 acre 3 3 41 0 0 14
$945,500 2,900 0.25 - 0.5 acre 4 2 44 1 0 35
$574,900 2,192 0.25 - 0.5 acre 4 2 51 2 2 7
$385,000 1,640 6,500 - 8,000 sqft 2 2 55 4 1 0