First American Title Market Report

Phoenix, AZ 85086

Single-Family Homes



Phoenix, AZ 85086

Tue Oct 15 2024
This week the median list price for Phoenix, AZ 85086 is $857,450 with the market action index hovering around 33. This is less than last month's market action index of 35. Inventory has increased to 134. 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.

Slight Seller's Advantage

Market Narrative

The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, 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 85086

Tue Oct 15 2024
This week the median list price for Phoenix, AZ 85086 is $857,450 with the market action index hovering around 33. This is less than last month's market action index of 35. Inventory has increased to 134. 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.

Slight Seller's Advantage

Market Narrative

The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, 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 $857,450
Median Price of New Listings $747,708
Per Square Foot $319
Average Days on Market 79
Median Days on Market 56
Price Decreased 54%
Price Increased 4%
Relisted 10%
Inventory 134
Median Rent
Market Action 33
Slight Seller's Advantage

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
$1,275,000 3,137 1 - 2.5 acres 4 4 18 5 2 63
$1,000,000 2,905 1 - 2.5 acres 4 3 19 2 1 70
$777,000 2,603 1 - 2.5 acres 4 3 21 3 3 59
$572,450 2,122 4,500 - 6,500 sqft 3 2 20 7 6 38