Clear Title Agency of Arizona

Phoenix, AZ 85007

Single-Family Homes

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Phoenix, AZ 85007

Tue May 07 2024
This week the median list price for Phoenix, AZ 85007 is $488,800 with the market action index hovering around 45. This is less than last month's market action index of 52. Inventory has increased to 20. 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 been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to 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 85007

Tue May 07 2024
This week the median list price for Phoenix, AZ 85007 is $488,800 with the market action index hovering around 45. This is less than last month's market action index of 52. Inventory has increased to 20. 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 been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to 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 $488,800
Median Price of New Listings $1,399,500
Per Square Foot $338
Average Days on Market 95
Median Days on Market 53
Price Decreased 50%
Price Increased 0%
Relisted 0%
Inventory 20
Median Rent
Market Action 45
Strong Seller's Market

We continue to see prices in this zip code bouncing around this plateau. Look for a persistent up-shift in the Market Action Index before we see prices move 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
$799,500 2,148 8,000 - 10,000 sqft 4 2 84 2 2 7
$509,000 1,544 6,500 - 8,000 sqft 3 2 93 0 1 70
$470,000 1,540 4,500 - 6,500 sqft 4 2 16 0 0 49
$384,000 1,206 4,500 - 6,500 sqft 3 2 78 0 0 63