Navi Title Agency

Phoenix, AZ 85004

Single-Family Homes

Here is your weekly Market Update!


Phoenix, AZ 85004

Tue Apr 23 2024
This week the median list price for Phoenix, AZ 85004 is $1,482,500 with the market action index hovering around 31. This is less than last month's market action index of 36. Inventory has held steady at or around 4. 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 conditions have been consistently cooling in the past several weeks. Because we’re still in the Seller’s zone, prices have not yet begun to drop. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect prices to fall if the index persistently falls to the Buyer’s zone.

Phoenix, AZ 85004

Tue Apr 23 2024
This week the median list price for Phoenix, AZ 85004 is $1,482,500 with the market action index hovering around 31. This is less than last month's market action index of 36. Inventory has held steady at or around 4. 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 conditions have been consistently cooling in the past several weeks. Because we’re still in the Seller’s zone, prices have not yet begun to drop. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect prices to fall if the index persistently falls to the Buyer’s zone.

Real-Time Market Profile

Never miss important changes in the Phoenix market.
Median List Price $1,482,500
Median Price of New Listings $0
Per Square Foot $406
Average Days on Market 75
Median Days on Market 67
Price Decreased 25%
Price Increased 0%
Relisted 0%
Inventory 4
Median Rent
Market Action 31
Slight Seller's Advantage

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
$7,995,000 8,225 0.5 - 1 acre 6 10 104 0 0 84
$2,300,000 5,494 0.5 - 1 acre 4 6 98 0 0 49
$665,000 1,684 0 - 4,500 sqft 2 2 55 0 0 21
$415,000 1,576 0 - 4,500 sqft 3 3 16 0 0 147