Navi Title Agency

Phoenix, AZ 85004

Single-Family Homes

Here is your weekly Market Update!


Phoenix, AZ 85004

Mon Dec 11 2023
This week the median list price for Phoenix, AZ 85004 is $424,500 with the market action index hovering around 48. This is less than last month's market action index of 53. Inventory has increased to 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.

Strong Seller's Market

In the last few weeks, the market has been at a stasis point in terms of sales to inventory. However, prices seem to continue to fall a bit. Technically supply levels indicate this is a Seller’s market so it is likely that the downward pricing pressure will be light or variable. Watch for an up-shift in the MAI before price stability is achieved.

Phoenix, AZ 85004

Mon Dec 11 2023
This week the median list price for Phoenix, AZ 85004 is $424,500 with the market action index hovering around 48. This is less than last month's market action index of 53. Inventory has increased to 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.

Strong Seller's Market

In the last few weeks, the market has been at a stasis point in terms of sales to inventory. However, prices seem to continue to fall a bit. Technically supply levels indicate this is a Seller’s market so it is likely that the downward pricing pressure will be light or variable. Watch for an up-shift in the MAI before price stability is achieved.

Real-Time Market Profile

Never miss important changes in the Phoenix market.
Median List Price $424,500
Median Price of New Listings $0
Per Square Foot $286
Average Days on Market 86
Median Days on Market 53
Price Decreased 25%
Price Increased 0%
Relisted 0%
Inventory 4
Median Rent
Market Action 48
Strong Seller's Market

This week prices in this zip code bumped up a bit but the trend of recent weeks is generally downward. A pickup in demand will be reflected in the Market Action Index, so watch that chart to try to identify a trough in the market.

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
$2,580,000 3,878 0.5 - 1 acre 5 3 108 0 0 224
$429,000 1,400 8,000 - 10,000 sqft 2 2 87 0 0 14
$420,000 1,576 0 - 4,500 sqft 3 3 15 0 0 14
$180,000 896 4,500 - 6,500 sqft 2 1 97 0 0 91