Sun Jan 29 2023
This week the median list price for Phoenix, AZ is $485,000 with the market action index hovering around 40. This is an increase over last month's market action index of 39. Inventory has decreased to 1,901.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
|Median List Price||$485,000|
|Median Price of New Listings||$502,500|
|Per Square Foot||$285|
|Average Days on Market||91|
|Median Days on Market||77|
|Slight Seller's Advantage|
The market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this trend.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$999,900||2,807||0.25 - 0.5 acre||4||3||31||71||56||77|
|$570,000||1,996||6,500 - 8,000 sqft||3||2||34||70||74||77|
|$424,999||1,633||6,500 - 8,000 sqft||3||2||44||54||75||84|
|$344,000||1,337||6,500 - 8,000 sqft||3||2||55||67||98||70|