First American Title Market Report

Phoenix, AZ 85045

Single-Family Homes



Phoenix, AZ 85045

Tue May 28 2024
This week the median list price for Phoenix, AZ 85045 is $662,200 with the market action index hovering around 47. This is less than last month's market action index of 51. Inventory has increased to 24. 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 started cooling and prices have been flat for several weeks. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Phoenix, AZ 85045

Tue May 28 2024
This week the median list price for Phoenix, AZ 85045 is $662,200 with the market action index hovering around 47. This is less than last month's market action index of 51. Inventory has increased to 24. 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 started cooling and prices have been flat for several weeks. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Real-Time Market Profile

Never miss important changes in the Phoenix market.
Median List Price $662,200
Median Price of New Listings $577,450
Per Square Foot $254
Average Days on Market 41
Median Days on Market 39
Price Decreased 71%
Price Increased 4%
Relisted 4%
Inventory 24
Median Rent
Market Action 47
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.

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
$1,067,450 3,395 0.25 - 0.5 acre 4 4 20 0 0 38
$746,500 3,335 6,500 - 8,000 sqft 5 3.5 23 0 1 21
$571,500 2,052 4,500 - 6,500 sqft 3 2 21 1 0 35
$499,400 2,078 0 - 4,500 sqft 3 3 23 1 0 59