Lawyers Title Market Report

Phoenix, AZ 85016

Single-Family Homes

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Phoenix, AZ 85016

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. 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

Home sales have been exceeding new inventory for several weeks. However prices have not yet stopped falling. Since the market is already in the Seller’s zone, expect prices to level off very soon. Should the sales trend continue expect that prices could climb from there.

Phoenix, AZ 85016

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. 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

Home sales have been exceeding new inventory for several weeks. However prices have not yet stopped falling. Since the market is already in the Seller’s zone, expect prices to level off very soon. Should the sales trend continue expect that prices could climb from there.

Real-Time Market Profile

Never miss important changes in the Phoenix 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
Price Decreased 31%
Price Increased 5%
Relisted 8%
Inventory 39
Median Rent $2,499
Market Action 67
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.

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
$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