Navi Title Agency

Phoenix, AZ 85028

Single-Family Homes

Here is your weekly Market Update!



Phoenix, AZ 85028

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. 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

While the Market Action Index shows some strengthening in the last few weeks, prices have not seemed to move from their plateau. Should the upward trend in sales relative to inventory continue, expect prices to resume an upward climb in tandem with the MAI.

Phoenix, AZ 85028

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. 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

While the Market Action Index shows some strengthening in the last few weeks, prices have not seemed to move from their plateau. Should the upward trend in sales relative to inventory continue, expect prices to resume an upward climb in tandem with the MAI.

Real-Time Market Profile

Never miss important changes in the Phoenix market.
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
Price Decreased 54%
Price Increased 0%
Relisted 5%
Inventory 39
Median Rent
Market Action 43
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.

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
$1,500,000 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