the AZ market
Phoenix, AZ 85023
Single-Family Homes
Phoenix, AZ 85023
Fri Sep 04 2026
This week the median list price for Phoenix, AZ 85023 is $460,000 with the market action index hovering around 41. This is less than last month's market action index of 43. Inventory has increased to 63.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
Market Narrative
The market has been at a stasis point in terms of sales to inventory. However, prices seem to continue to fall a bit. Technically supply levels indicate this is a Seller’s market so it is likely that the downward pricing pressure will be light or variable.
Real-Time Market Profile
| Median List Price | $460,000 | |
| Median Price of New Listings | $452,500 | |
| Per Square Foot | $272 | |
| Average Days on Market | 70 | |
| Median Days on Market | 49 | |
| Price Decreased | 59% | |
| Price Increased | 2% | |
| Relisted | 5% | |
| Inventory | 63 | |
| Median Rent | ||
| Market Action | 41 | |
| Slight Seller's Advantage | ||
This week prices in this zip code bumped up a bit but the trend of recent weeks is generally downward. Keep an eye on the Market Action Index for a leading indicator of the duration of this downtrend.
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 |
|---|---|---|---|---|---|---|---|---|
| $771,999 | 2,552 | 0.25 - 0.5 acre | 4 | 2.8 | 38 | 0 | 2 | 80 |
| $525,000 | 1,817 | 6,500 - 8,000 sqft | 3 | 2.3 | 30 | 2 | 1 | 42 |
| $415,000 | 1,634 | 8,000 - 10,000 sqft | 3 | 2 | 50 | 1 | 2 | 56 |
| $345,000 | 1,296 | 6,500 - 8,000 sqft | 3 | 2 | 50 | 1 | 3 | 28 |