Navi Title Agency

Phoenix, AZ 85012

Single-Family Homes

Here is your weekly Market Update!


Phoenix, AZ 85012

Fri Dec 01 2023
This week the median list price for Phoenix, AZ 85012 is $1,099,000 with the market action index hovering around 42. This is about the same as last month's market action index of 42. Inventory has held steady at or around 11. 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

In the last few weeks, the Market Action Index has resumed a climb. Despite the fact that we’re in a Seller’s market, prices have not yet resumed upward momentum. However, it is likely that given these conditions, prices will at least level off very soon. If the increasing trend continues, expect that prices could shift higher quickly.

Phoenix, AZ 85012

Fri Dec 01 2023
This week the median list price for Phoenix, AZ 85012 is $1,099,000 with the market action index hovering around 42. This is about the same as last month's market action index of 42. Inventory has held steady at or around 11. 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

In the last few weeks, the Market Action Index has resumed a climb. Despite the fact that we’re in a Seller’s market, prices have not yet resumed upward momentum. However, it is likely that given these conditions, prices will at least level off very soon. If the increasing trend continues, expect that prices could shift higher quickly.

Real-Time Market Profile

Never miss important changes in the Phoenix market.
Median List Price $1,099,000
Median Price of New Listings $849,000
Per Square Foot $451
Average Days on Market 56
Median Days on Market 28
Price Decreased 45%
Price Increased 9%
Relisted 9%
Inventory 11
Median Rent
Market Action 42
Slight Seller's Advantage

Again this week in this zip code we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.

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
$2,950,000 5,075 0.25 - 0.5 acre 5 5 35 0 0 28
$1,500,000 2,793 0.25 - 0.5 acre 4 3 51 0 0 28
$799,000 2,085 6,500 - 8,000 sqft 3 2 52 1 0 49
$623,000 1,490 6,500 - 8,000 sqft 3 2 74 1 0 28