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.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's 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|
|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.
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|