Lawyers Title Market Report
Phoenix, AZ 85048
Single-Family Homes
Lawyers Title Arizona | www.LawyersTitleArizona.com | 602.257.2600
Phoenix, AZ 85048
Sat Jun 12 2021
This week the median list price for Phoenix, AZ 85048 is $720,000 with the market action index hovering around 96. This is about the same as last month's market action index of 96. Inventory has decreased to 17.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone and prices have recently resumed upward pressure.
Real-Time Market Profile
| Median List Price | $720,000 | |
| Median Price of New Listings | $468,500 | |
| Per Square Foot | $247 | |
| Average Days on Market | 98 | |
| Median Days on Market | 7 | |
| Price Decreased | 12% | |
| Price Increased | 0% | |
| Relisted | 0% | |
| Inventory | 17 | |
| Median Rent | $2,100 | |
| Market Action | 96 | |
| Strong Seller's Market | ||
The market for this zip code continues its bounce again this week. We’re a long way from the market’s high point so watch the Market Action Index to predict how long this trend will last.
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 |
|---|---|---|---|---|---|---|---|---|
| $1,824,999 | 4,851 | 0.25 - 0.5 acre | 4 | 4 | 24 | 0 | 0 | 150 |
| $899,950 | 3,323 | 0.25 - 0.5 acre | 4 | 3 | 29 | 1 | 2 | 87 |
| $473,500 | 2,330 | 4,500 - 6,500 sqft | 4 | 2 | 28 | 4 | 4 | 0 |
| $449,000 | 1,705 | 4,500 - 6,500 sqft | 3 | 2 | 29 | 3 | 4 | 0 |