Navi Title Agency
Phoenix, AZ 85041
Single-Family Homes
Here is your weekly Market Update!
Phoenix, AZ 85041
Fri Jun 02 2023
This week the median list price for Phoenix, AZ 85041 is $419,450 with the market action index hovering around 71. This is an increase over last month's market action index of 67. Inventory has decreased to 44.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.
Real-Time Market Profile
| Median List Price | $419,450 | |
| Median Price of New Listings | $369,900 | |
| Per Square Foot | $231 | |
| Average Days on Market | 61 | |
| Median Days on Market | 21 | |
| Price Decreased | 48% | |
| Price Increased | 7% | |
| Relisted | 2% | |
| Inventory | 44 | |
| Median Rent | ||
| Market Action | 71 | |
| Strong Seller's Market | ||
In this zip code this week saw relatively little price change from last week. However, we continue to demonstrate a nice up trend over the last several weeks.
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 |
|---|---|---|---|---|---|---|---|---|
| $695,000 | 2,878 | 8,000 - 10,000 sqft | 4 | 2.5 | 14 | 0 | 0 | 49 |
| $495,000 | 2,233 | 4,500 - 6,500 sqft | 3 | 2.5 | 13 | 0 | 2 | 28 |
| $389,000 | 1,714 | 4,500 - 6,500 sqft | 4 | 2 | 19 | 4 | 3 | 14 |
| $335,000 | 1,448 | 4,500 - 6,500 sqft | 3 | 2 | 51 | 4 | 1 | 7 |