Navi Title Agency
Phoenix, AZ 85009
Single-Family Homes
Here is your weekly Market Update!
Phoenix, AZ 85009
Fri Jun 02 2023
This week the median list price for Phoenix, AZ 85009 is $349,000 with the market action index hovering around 73. This is an increase over last month's market action index of 63. Inventory has decreased to 11.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.
Real-Time Market Profile
| Median List Price | $349,000 | |
| Median Price of New Listings | $299,900 | |
| Per Square Foot | $290 | |
| Average Days on Market | 106 | |
| Median Days on Market | 63 | |
| Price Decreased | 36% | |
| Price Increased | 0% | |
| Relisted | 0% | |
| Inventory | 11 | |
| Median Rent | ||
| Market Action | 73 | |
| Strong Seller's Market | ||
While the median price in this zip code hasn’t moved much in the last few weeks, we are relatively close to the market’s high-water mark. Watch for persistent downward shift in the Market Action Index into the Buyer’s zone as a leading indicator of the price strength subsiding.
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 |
|---|---|---|---|---|---|---|---|---|
| $739,950 | 2,080 | 8,000 - 10,000 sqft | 5 | 3.3 | 76 | 0 | 0 | 231 |
| $408,999 | 1,494 | 6,500 - 8,000 sqft | 3 | 2 | 69 | 0 | 0 | 63 |
| $322,000 | 1,574 | 6,500 - 8,000 sqft | 2 | 2 | 87 | 2 | 1 | 7 |
| $279,000 | 836 | 4,500 - 6,500 sqft | 2 | 1 | 87 | 2 | 1 | 42 |