Your Localized Market Report
Phoenix, AZ 85048
Single-Family Homes
Lawyers Title Arizona www.LawyersTitleArizona.com
Phoenix, AZ 85048
Wed May 20 2026
This week the median list price for Phoenix, AZ 85048 is $617,000 with the market action index hovering around 41. This is an increase over last month's market action index of 39. Inventory has decreased to 88.
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 cooling off consistently for several weeks, as more homes are available and demand is less. We have begun to seen prices move lower as a result. If the MAI falls into the Buyer’s zone, it is likely that prices continue their downward trend until we see some turnaround in Market Action.
Real-Time Market Profile
| Median List Price | $617,000 | |
| Median Price of New Listings | $640,000 | |
| Per Square Foot | $303 | |
| Average Days on Market | 87 | |
| Median Days on Market | 56 | |
| Price Decreased | 60% | |
| Price Increased | 2% | |
| Relisted | 7% | |
| Inventory | 88 | |
| Median Rent | ||
| Market Action | 41 | |
| Slight Seller's Advantage | ||
Again this week we see a downward notch for prices in this zip code. We continue to pull back from the market’s highs. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.
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 |
|---|---|---|---|---|---|---|---|---|
| $1,325,000 | 3,972 | 0.25 - 0.5 acre | 5 | 4.3 | 23 | 2 | 7 | 56 |
| $670,000 | 2,375 | 6,500 - 8,000 sqft | 4 | 2.5 | 32 | 2 | 2 | 105 |
| $579,000 | 1,977 | 4,500 - 6,500 sqft | 4 | 2 | 35 | 2 | 0 | 24 |
| $507,250 | 1,624 | 4,500 - 6,500 sqft | 3 | 2.3 | 32 | 1 | 2 | 49 |