Mon Oct 19 2020
This week the median list price for Phoenix, AZ 85028 is $535,000 with the market action index hovering around 78. This is an increase over last month's market action index of 74. Inventory has held steady at or around 23.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$535,000|
|Per Square Foot||$248|
|Days on Market||29|
|Strong Seller's Market|
In the last few weeks we’ve seen prices in this zip code bouncing around this plateau. Look for a persistent down-shift in the Market Action Index before we see prices deviate from these levels.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$1,450,000||4,167||0.5 - 1 acre||4||3||39||3||3||14|
|$734,500||2,592||0.25 - 0.5 acre||3||3||20||1||4||64|
|$514,995||2,130||0.25 - 0.5 acre||3||2||45||3||6||17|
|$380,000||1,896||8,000 - 10,000 sqft||3||2||49||4||3||18|