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.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
|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|
|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.
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|