First American Title Market Report
Phoenix, AZ 85045
Single-Family Homes
Phoenix, AZ 85045
Thu Dec 26 2024
This week the median list price for Phoenix, AZ 85045 is $799,900 with the market action index hovering around 36. This is less than last month's market action index of 39. Inventory has increased to 23.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
Market Narrative
Market conditions have been consistently cooling in the past several weeks. Because we’re still in the Seller’s zone, prices have not yet begun to drop. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect prices to fall if the index persistently falls to the Buyer’s zone.
Real-Time Market Profile
| Median List Price | $799,900 | |
| Median Price of New Listings | $931,950 | |
| Per Square Foot | $298 | |
| Average Days on Market | 72 | |
| Median Days on Market | 35 | |
| Price Decreased | 43% | |
| Price Increased | 0% | |
| Relisted | 0% | |
| Inventory | 23 | |
| Median Rent | ||
| Market Action | 36 | |
| Slight Seller's Advantage | ||
The market for this zip code continues its bounce again this week. We're a long way from the market's high point so watch the Market Action Index to predict how long this trend will last.
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 |
|---|---|---|---|---|---|---|---|---|
| $1,189,000 | 3,132 | 0.25 - 0.5 acre | 4 | 3 | 6 | 1 | 0 | 35 |
| $836,500 | 3,091 | 8,000 - 10,000 sqft | 4 | 3 | 22 | 0 | 0 | 35 |
| $704,995 | 2,735 | 8,000 - 10,000 sqft | 4 | 3 | 28 | 1 | 1 | 59 |
| $575,000 | 2,159 | 4,500 - 6,500 sqft | 3 | 2 | 25 | 0 | 1 | 17 |