Lawyers Title Market Report
Phoenix, AZ 85040
Single-Family Homes
Lawyers Title Arizona | www.LawyersTitleArizona.com | 602.257.2600
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.
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
| 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 |