Your Localized Market Report

Phoenix, AZ 85003

Single-Family Homes

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Phoenix, AZ 85003

Fri Jul 01 2022
This week the median list price for Phoenix, AZ 85003 is $775,000 with the market action index hovering around 50. This is less than last month's market action index of 61. Inventory has increased to 9. 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

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.

Phoenix, AZ 85003

Fri Jul 01 2022
This week the median list price for Phoenix, AZ 85003 is $775,000 with the market action index hovering around 50. This is less than last month's market action index of 61. Inventory has increased to 9. 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

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

Never miss important changes in the Phoenix market.
Median List Price $775,000
Median Price of New Listings $750,000
Per Square Foot $409
Average Days on Market 88
Median Days on Market 7
Price Decreased 33%
Price Increased 0%
Relisted 0%
Inventory 9
Median Rent
Market Action 50
Strong Seller's Market

Price trends in this zip code continued their recent uptrend this week. While still below the market's high point, we've seen a nice run recently.

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
$1,107,500 2,253 8,000 - 10,000 sqft 4 3.3 92 0 0 21
$920,000 2,884 8,000 - 10,000 sqft 5 2.8 107 1 2 45
$762,500 1,785 8,000 - 10,000 sqft 3 2.5 96 1 0 31
$660,000 2,026 6,500 - 8,000 sqft 4 2 2 1 0 7