Navi Title Agency

Phoenix, AZ 85051

Single-Family Homes

Here is your weekly Market Update!



Phoenix, AZ 85051

Fri Jun 02 2023
This week the median list price for Phoenix, AZ 85051 is $399,999 with the market action index hovering around 75. This is less than last month's market action index of 78. Inventory has decreased to 19. 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 started cooling and prices have been flat for several weeks. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its 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 85051

Fri Jun 02 2023
This week the median list price for Phoenix, AZ 85051 is $399,999 with the market action index hovering around 75. This is less than last month's market action index of 78. Inventory has decreased to 19. 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 started cooling and prices have been flat for several weeks. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its 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 $399,999
Median Price of New Listings $354,500
Per Square Foot $219
Average Days on Market 46
Median Days on Market 21
Price Decreased 21%
Price Increased 11%
Relisted 11%
Inventory 19
Median Rent
Market Action 75
Strong Seller's Market

Prices in this zip code seem to have settled around a plateau. Look for a persistent down-shift 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
$447,000 2,126 8,000 - 10,000 sqft 3 2 56 0 1 66
$407,500 1,684 6,500 - 8,000 sqft 3 2 57 1 0 14
$399,000 1,780 8,000 - 10,000 sqft 3 2 57 1 1 14
$339,900 1,473 6,500 - 8,000 sqft 3 2 58 2 5 14