Mon Jun 21 2021
This week the median list price for Phoenix, AZ 85016 is $999,900 with the market action index hovering around 67. This is an increase over last month's market action index of 65. Inventory has decreased to 39.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$999,900|
|Median Price of New Listings||$748,500|
|Per Square Foot||$399|
|Average Days on Market||73|
|Median Days on Market||35|
|Strong Seller's Market|
Prices in this zip code been on a downward trend recently and this week, while essentially flat, doesn’t break us out of that cycle. Watch the Market Action Index for any signs of demand increasing.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$2,100,000||4,270||0.5 - 1 acre||5||4||39||1||1||42|
|$1,248,500||2,786||6,500 - 8,000 sqft||3||3||35||1||1||52|
|$749,999||2,089||4,500 - 6,500 sqft||3||2||42||4||5||21|
|$485,000||1,549||8,000 - 10,000 sqft||3||2||71||4||7||10|