Your Localized Market Report

Phoenix, AZ 85048

Single-Family Homes

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Phoenix, AZ 85048

Fri Jul 01 2022
This week the median list price for Phoenix, AZ 85048 is $694,500 with the market action index hovering around 75. This is less than last month's market action index of 87. Inventory has increased to 62. 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

The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’re already seeing prices move lower as a result. Expect this trend to continue especially if the index falls to the Buyer’s zone. Watch for a persistent up-turn in Market Action to signal prices rising again.

Phoenix, AZ 85048

Fri Jul 01 2022
This week the median list price for Phoenix, AZ 85048 is $694,500 with the market action index hovering around 75. This is less than last month's market action index of 87. Inventory has increased to 62. 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

The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’re already seeing prices move lower as a result. Expect this trend to continue especially if the index falls to the Buyer’s zone. Watch for a persistent up-turn in Market Action to signal prices rising again.

Real-Time Market Profile

Never miss important changes in the Phoenix market.
Median List Price $694,500
Median Price of New Listings $640,000
Per Square Foot $301
Average Days on Market 24
Median Days on Market 18
Price Decreased 37%
Price Increased 2%
Relisted 2%
Inventory 62
Median Rent
Market Action 75
Strong Seller's Market

Prices in this zip code have been on a downward trend recently and this week, while essentially flat, doesn't break us out of that cycle.

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
$990,000 3,307 0.25 - 0.5 acre 4 3 29 2 1 14
$750,000 2,746 8,000 - 10,000 sqft 4 3 30 2 2 28
$650,000 2,237 4,500 - 6,500 sqft 4 2.5 32 6 1 7
$540,000 1,694 4,500 - 6,500 sqft 3 2 32 8 5 14