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