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Phoenix, AZ 85053

Single-Family Homes

Here is your weekly Market Update!



Phoenix, AZ 85053

Sun Oct 06 2024
This week the median list price for Phoenix, AZ 85053 is $431,449 with the market action index hovering around 45. This is less than last month's market action index of 47. Inventory has increased to 52. 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 Narrative

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Phoenix, AZ 85053

Sun Oct 06 2024
This week the median list price for Phoenix, AZ 85053 is $431,449 with the market action index hovering around 45. This is less than last month's market action index of 47. Inventory has increased to 52. 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 Narrative

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Real-Time Market Profile

Never miss important changes in the Phoenix market.
Median List Price $431,449
Median Price of New Listings $397,450
Per Square Foot $261
Average Days on Market 62
Median Days on Market 46
Price Decreased 58%
Price Increased 2%
Relisted 0%
Inventory 52
Median Rent
Market Action 45
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.

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
$549,000 2,220 8,000 - 10,000 sqft 4 2 48 2 1 91
$448,000 1,770 8,000 - 10,000 sqft 3 2 50 0 2 56
$420,000 1,520 8,000 - 10,000 sqft 3 2 52 3 0 28
$370,000 1,296 6,500 - 8,000 sqft 3 2 49 5 2 42