First American Title Market Report
Phoenix, AZ 85045
Single-Family Homes
Phoenix, AZ 85045
Tue Apr 16 2024
This week the median list price for Phoenix, AZ 85045 is $675,000 with the market action index hovering around 49. This is an increase over last month's market action index of 48. Inventory has increased to 23.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Home sales have been exceeding new inventory for several weeks. However prices have not yet stopped falling. Since the market is already in the Seller's zone, expect prices to level off very soon. Should the sales trend continue expect that prices could climb from there.
Real-Time Market Profile
| Median List Price | $675,000 | |
| Median Price of New Listings | $912,450 | |
| Per Square Foot | $276 | |
| Average Days on Market | 35 | |
| Median Days on Market | 21 | |
| Price Decreased | 39% | |
| Price Increased | 0% | |
| Relisted | 0% | |
| Inventory | 23 | |
| Median Rent | ||
| Market Action | 49 | |
| Strong Seller's Market | ||
Prices in this zip code have been on a downward trend recently and this week, while essentially flat, doesn't break us out of that cycle.
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 |
|---|---|---|---|---|---|---|---|---|
| $1,197,000 | 3,132 | 0.25 - 0.5 acre | 4 | 4 | 19 | 2 | 0 | 28 |
| $790,500 | 3,138 | 6,500 - 8,000 sqft | 5 | 3.5 | 26 | 0 | 0 | 24 |
| $571,950 | 2,268 | 4,500 - 6,500 sqft | 3 | 2.5 | 23 | 2 | 2 | 10 |
| $517,000 | 1,954 | 0 - 4,500 sqft | 3 | 3 | 21 | 0 | 1 | 52 |