Your Localized Market Report

Phoenix, AZ 85048

Single-Family Homes

Lawyers Title Arizona & Grand Canyon Title Agency www.LawyersTitleArizona.com & www.gcta.com



Phoenix, AZ 85048

Mon Jun 30 2025
This week the median list price for Phoenix, AZ 85048 is $637,500 with the market action index hovering around 40. This is about the same as last month's market action index of 40. Inventory has held steady at or around 96. 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.

Slight Seller's Advantage

Market Narrative

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 so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

Phoenix, AZ 85048

Mon Jun 30 2025
This week the median list price for Phoenix, AZ 85048 is $637,500 with the market action index hovering around 40. This is about the same as last month's market action index of 40. Inventory has held steady at or around 96. 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.

Slight Seller's Advantage

Market Narrative

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 so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

Real-Time Market Profile

Never miss important changes in the Phoenix market.
Median List Price $637,500
Median Price of New Listings $614,900
Per Square Foot $293
Average Days on Market 78
Median Days on Market 53
Price Decreased 52%
Price Increased 1%
Relisted 5%
Inventory 96
Median Rent
Market Action 40
Slight Seller's Advantage

Prices in this zip are remaining at a plateau, albeit significantly below the market’s peak. This week prices bumped down a bit, but not enough to indicate a resumed downward trend. Look for a persistent up-shift in the Market Action Index before we see prices significantly move from these levels.

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
$944,000 3,422 0.25 - 0.5 acre 4 3 32 3 5 49
$724,950 2,650 6,500 - 8,000 sqft 4 2.5 32 4 2 38
$585,000 1,927 4,500 - 6,500 sqft 3 2 34 5 4 31
$471,475 1,483 4,500 - 6,500 sqft 3 2 33 3 3 70