Lawyers Title Market Report

Phoenix, AZ 85040

Single-Family Homes

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Phoenix, AZ 85040

Mon Jun 21 2021
This week the median list price for Phoenix, AZ 85040 is $384,949 with the market action index hovering around 93. This is an increase over last month's market action index of 89. Inventory has increased to 10. 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.

Strong Seller's Market

While the Market Action Index shows some strengthening in the last few weeks, prices have settled in a bit of a plateau. We are currently in a Seller’s market so prices will likely resume their climb should this trend persist.

Phoenix, AZ 85040

Mon Jun 21 2021
This week the median list price for Phoenix, AZ 85040 is $384,949 with the market action index hovering around 93. This is an increase over last month's market action index of 89. Inventory has increased to 10. 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.

Strong Seller's Market

While the Market Action Index shows some strengthening in the last few weeks, prices have settled in a bit of a plateau. We are currently in a Seller’s market so prices will likely resume their climb should this trend persist.

Real-Time Market Profile

Never miss important changes in the Phoenix market.
Median List Price $384,949
Median Price of New Listings $309,997
Per Square Foot $221
Average Days on Market 34
Median Days on Market 11
Price Decreased 20%
Price Increased 10%
Relisted 10%
Inventory 10
Median Rent $1,925
Market Action 93
Strong Seller's Market

In the last few weeks we’ve seen prices in this zip code bouncing around this plateau. Look for a persistent down-shift in the Market Action Index before we see prices deviate 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
$630,000 2,472 0.25 - 0.5 acre 4 2 53 1 1 3
$474,500 2,196 0.5 - 1 acre 4 2 2 1 1 108
$349,999 1,544 4,500 - 6,500 sqft 3 2 15 1 3 14
$295,000 1,400 0 - 4,500 sqft 3 2 63 2 2 0