Navi Title Agency

Phoenix, AZ 85040

Single-Family Homes

Here is your weekly Market Update!



Phoenix, AZ 85040

Fri Jun 02 2023
This week the median list price for Phoenix, AZ 85040 is $357,475 with the market action index hovering around 74. This is an increase over last month's market action index of 71. Inventory has decreased to 14. 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

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

Fri Jun 02 2023
This week the median list price for Phoenix, AZ 85040 is $357,475 with the market action index hovering around 74. This is an increase over last month's market action index of 71. Inventory has decreased to 14. 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

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 $357,475
Median Price of New Listings $347,475
Per Square Foot $270
Average Days on Market 63
Median Days on Market 14
Price Decreased 29%
Price Increased 0%
Relisted 7%
Inventory 14
Median Rent
Market Action 74
Strong Seller's Market

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
$440,000 1,881 4,500 - 6,500 sqft 3 2.5 17 0 0 14
$369,900 1,304 6,500 - 8,000 sqft 3 2 52 1 0 42
$347,475 1,239 4,500 - 6,500 sqft 3 2.3 35 3 1 0
$219,950 904 4,500 - 6,500 sqft 3 2 65 2 0 28