Mon Dec 04 2023
This week the median list price for Phoenix, AZ 85028 is $699,900 with the market action index hovering around 43. This is an increase over last month's market action index of 41. Inventory has increased to 39.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
|Median List Price||$699,900|
|Median Price of New Listings||$659,500|
|Per Square Foot||$398|
|Average Days on Market||51|
|Median Days on Market||35|
|Slight Seller's Advantage|
Prices in this zip are remaining at a plateau, albeit significantly below the market’s peak. This week prices bumped down a bit, but not enough to indicate a resumed downward trend. Look for a persistent up-shift in the Market Action Index before we see prices significantly move from these levels.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$1,500,000||2,576||0.5 - 1 acre||4||3||53||0||1||63|
|$886,950||2,133||8,000 - 10,000 sqft||3||2||45||2||1||31|
|$698,500||1,757||8,000 - 10,000 sqft||3||2||49||1||1||45|
|$546,500||1,507||8,000 - 10,000 sqft||3||2||52||3||3||21|