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.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's 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|
|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.
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|