Your Localized Market Report

Phoenix, AZ 85040

Single-Family Homes

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Phoenix, AZ 85040

Fri Jul 01 2022
This week the median list price for Phoenix, AZ 85040 is $365,000 with the market action index hovering around 79. This is less than last month's market action index of 82. Inventory has increased to 27. 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

The market has been cooling off consistently for several weeks, as more homes are available and demand is less. We have begun to seen prices move lower as a result. If the MAI falls into the Buyer’s zone, it is likely that prices continue their downward trend until we see some turnaround in Market Action.

Phoenix, AZ 85040

Fri Jul 01 2022
This week the median list price for Phoenix, AZ 85040 is $365,000 with the market action index hovering around 79. This is less than last month's market action index of 82. Inventory has increased to 27. 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

The market has been cooling off consistently for several weeks, as more homes are available and demand is less. We have begun to seen prices move lower as a result. If the MAI falls into the Buyer’s zone, it is likely that prices continue their downward trend until we see some turnaround in Market Action.

Real-Time Market Profile

Never miss important changes in the Phoenix market.
Median List Price $365,000
Median Price of New Listings $400,000
Per Square Foot $274
Average Days on Market 32
Median Days on Market 14
Price Decreased 26%
Price Increased 0%
Relisted 0%
Inventory 27
Median Rent
Market Action 79
Strong Seller's Market

Prices in this zip code been on a downward trend recently and this week, while essentially flat, doesn’t break us out of that cycle. Watch the Market Action Index for any signs of demand increasing.

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
$555,500 2,211 4,500 - 6,500 sqft 4 2.3 16 1 0 10
$425,000 1,728 8,000 - 10,000 sqft 4 2 19 5 4 0
$360,000 1,300 6,500 - 8,000 sqft 3 2 70 3 2 7
$299,900 966 4,500 - 6,500 sqft 3 1 62 2 1 49