Your Localized Market Report
Phoenix, AZ 85040
Single-Family Homes
Lawyers Title Arizona | www.LawyersTitleArizona.com | 602.257.2600
Phoenix, AZ 85040
Thu Jan 20 2022
This week the median list price for Phoenix, AZ 85040 is $367,000 with the market action index hovering around 84. This is less than last month's market action index of 85. Inventory has increased to 13.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
The market has not shown strong directional trends in terms of supply and demand. However, inventory is sufficiently low to keep us in the Seller’s Market zone and prices have been moving upward as evidence.
Real-Time Market Profile
| Median List Price | $367,000 | |
| Median Price of New Listings | $352,500 | |
| Per Square Foot | $246 | |
| Average Days on Market | 34 | |
| Median Days on Market | 21 | |
| Price Decreased | 23% | |
| Price Increased | 0% | |
| Relisted | 15% | |
| Inventory | 13 | |
| Median Rent | $2,060 | |
| Market Action | 84 | |
| Strong Seller's Market | ||
In this zip code this week saw relatively little price change from last week. However, we continue to demonstrate a nice up trend over the last several weeks.
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 |
|---|---|---|---|---|---|---|---|---|
| $440,000 | 2,020 | 0 - 4,500 sqft | 3 | 2.5 | 16 | 0 | 2 | 14 |
| $399,000 | 1,499 | 0.25 - 0.5 acre | 3 | 2 | 21 | 2 | 2 | 49 |
| $335,000 | 1,288 | 6,500 - 8,000 sqft | 4 | 2 | 64 | 0 | 1 | 21 |
| $305,000 | 1,067 | 4,500 - 6,500 sqft | 3 | 1.5 | 56 | 2 | 2 | 14 |