RealTrends Market Report

Phoenix, AZ

Single-Family Homes

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Phoenix, AZ

Mon Dec 02 2024
This week the median list price for Phoenix, AZ is $534,900 with the market action index hovering around 38. This is about the same as last month's market action index of 38. Inventory has held steady at or around 2,439. 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 Narrative

The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its 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

Mon Dec 02 2024
This week the median list price for Phoenix, AZ is $534,900 with the market action index hovering around 38. This is about the same as last month's market action index of 38. Inventory has held steady at or around 2,439. 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 Narrative

The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its 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 $534,900
Median Price of New Listings $514,999
Per Square Foot $301
Average Days on Market 81
Median Days on Market 56
Price Decreased 54%
Price Increased 3%
Relisted 6%
Inventory 2,439
Median Rent
Market Action 38
Slight Seller's Advantage

The market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this trend.

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
$1,159,000 3,063 0.25 - 0.5 acre 4 3 25 57 63 63
$650,000 2,089 6,500 - 8,000 sqft 4 2.5 34 52 55 63
$450,000 1,673 6,500 - 8,000 sqft 3 2 41 68 75 49
$359,250 1,339 4,500 - 6,500 sqft 3 2 54 69 74 49