Single-Family Homes
Fri Nov 22 2024
This week the median list price for Phoenix, AZ is $540,000 with the market action index hovering around 38. This is less than last month's market action index of 39. Inventory has increased to 2,445.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
Median List Price | $540,000 | |
Median Price of New Listings | $475,000 | |
Per Square Foot | $300 | |
Average Days on Market | 79 | |
Median Days on Market | 49 | |
Price Decreased | 53% | |
Price Increased | 3% | |
Relisted | 5% | |
Inventory | 2,445 | |
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.
Each segment below represents approximately 25% of the market ordered by price.
Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
---|---|---|---|---|---|---|---|---|
$1,175,000 | 3,083 | 0.25 - 0.5 acre | 4 | 3 | 24 | 54 | 47 | 63 |
$649,999 | 2,098 | 6,500 - 8,000 sqft | 4 | 3 | 35 | 48 | 46 | 56 |
$455,000 | 1,685 | 6,500 - 8,000 sqft | 3 | 2 | 42 | 72 | 61 | 49 |
$360,000 | 1,355 | 4,500 - 6,500 sqft | 3 | 2 | 54 | 87 | 80 | 42 |