Navi Title Agency

Phoenix, AZ 85004

Single-Family Homes

Here is your weekly Market Update!


Current active inventory in Phoenix, AZ 85004 is very low. Keep this in mind when looking at this report.

Phoenix, AZ 85004

Fri Jun 02 2023
This week the median list price for Phoenix, AZ 85004 is $3,100,000 with the market action index hovering around 24. This is about the same as last month's market action index of 24. Inventory has held steady at or around 3. 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 Buyer's Advantage

The market shows signs of warming up, with sales demand recently increasing faster than inventory. Prices have not yet responded as the market is still working through excess inventory. It’s unlikely that we’ll see prices level off or move higher until the MAI sustains its upward trend and maybe not until the inventory is depleted enough to create a Seller’s market.

Phoenix, AZ 85004

Fri Jun 02 2023
This week the median list price for Phoenix, AZ 85004 is $3,100,000 with the market action index hovering around 24. This is about the same as last month's market action index of 24. Inventory has held steady at or around 3. 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 Buyer's Advantage

The market shows signs of warming up, with sales demand recently increasing faster than inventory. Prices have not yet responded as the market is still working through excess inventory. It’s unlikely that we’ll see prices level off or move higher until the MAI sustains its upward trend and maybe not until the inventory is depleted enough to create a Seller’s market.

Real-Time Market Profile

Never miss important changes in the Phoenix market.
Median List Price $3,100,000
Median Price of New Listings $915,000
Per Square Foot $799
Average Days on Market 44
Median Days on Market 28
Price Decreased 33%
Price Increased 0%
Relisted 0%
Inventory 3
Median Rent
Market Action 24
Slight Buyer's Advantage

Again this week we see a downward notch for prices in this zip code. Pricing has been weak recently and versus their absolute-high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.

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
N/A N/A N/A N/A N/A N/A N/A N/A N/A
$8,500,000 8,225 0.5 - 1 acre 6 10 103 0 0 105
$3,100,000 3,878 0.5 - 1 acre 5 3 108 0 0 28
$915,000 3,246 - 4 2.5 107 1 0 0