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Phoenix, AZ 85040

Single-Family Homes

Here is your weekly Market Update!



Phoenix, AZ 85040

Sat May 10 2025
This week the median list price for Phoenix, AZ 85040 is $387,450 with the market action index hovering around 44. This is an increase over last month's market action index of 42. Inventory has increased to 52. 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

Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.

Phoenix, AZ 85040

Sat May 10 2025
This week the median list price for Phoenix, AZ 85040 is $387,450 with the market action index hovering around 44. This is an increase over last month's market action index of 42. Inventory has increased to 52. 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

Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.

Real-Time Market Profile

Never miss important changes in the Phoenix market.
Median List Price $387,450
Median Price of New Listings $340,000
Per Square Foot $255
Average Days on Market 63
Median Days on Market 42
Price Decreased 42%
Price Increased 2%
Relisted 2%
Inventory 52
Median Rent
Market Action 44
Slight Seller's Advantage

Again this week we see prices in this zip code remain roughly at the level they’ve been for several weeks. Since we’re significantly below the top of the market, 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
$459,900 1,961 4,500 - 6,500 sqft 3 2 7 0 0 42
$414,900 1,628 4,500 - 6,500 sqft 3 2 19 1 0 42
$367,999 1,398 0 - 4,500 sqft 3 2 21 1 1 49
$295,000 1,152 4,500 - 6,500 sqft 3 2 67 5 0 7