Mon Dec 11 2023
This week the median list price for Phoenix, AZ 85040 is $375,000 with the market action index hovering around 48. This is less than last month's market action index of 57. Inventory has increased to 35.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$375,000|
|Median Price of New Listings||$379,990|
|Per Square Foot||$260|
|Average Days on Market||38|
|Median Days on Market||28|
|Strong Seller's Market|
Again this week we see prices in this zip code remain roughly at the level they’ve been for several weeks. Since we’re significantly below the top of the market, look for a persistent up-shift in the Market Action Index before we see prices move from these levels.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$487,000||1,942||4,500 - 6,500 sqft||4||3||16||1||0||28|
|$418,000||1,538||4,500 - 6,500 sqft||4||2||16||3||2||28|
|$359,900||1,275||4,500 - 6,500 sqft||3||2||38||0||1||28|
|$315,000||1,233||4,500 - 6,500 sqft||3||2||68||3||1||56|