Your Localized Market Report

Phoenix, AZ 85048

Single-Family Homes

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Phoenix, AZ 85048

Fri Jan 21 2022
This week the median list price for Phoenix, AZ 85048 is $677,000 with the market action index hovering around 76. This is less than last month's market action index of 79. Inventory has decreased to 25. 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 started cooling and prices have been flat for several weeks. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Phoenix, AZ 85048

Fri Jan 21 2022
This week the median list price for Phoenix, AZ 85048 is $677,000 with the market action index hovering around 76. This is less than last month's market action index of 79. Inventory has decreased to 25. 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 started cooling and prices have been flat for several weeks. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Real-Time Market Profile

Never miss important changes in the Phoenix market.
Median List Price $677,000
Median Price of New Listings $729,000
Per Square Foot $267
Average Days on Market 70
Median Days on Market 35
Price Decreased 4%
Price Increased 4%
Relisted 4%
Inventory 25
Median Rent $2,538
Market Action 76
Strong Seller's Market

Prices in this zip code seem to have settled around a plateau. Look for a persistent down-shift in the Market Action Index before we see prices deviate 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
$2,449,000 3,822 1 - 2.5 acres 4 3.5 23 1 2 112
$741,450 2,859 8,000 - 10,000 sqft 4 2.5 33 3 1 10
$622,500 2,595 6,500 - 8,000 sqft 4 3 29 0 5 52
$519,900 1,836 4,500 - 6,500 sqft 4 2 34 1 4 28