Navi Title Agency

Phoenix, AZ 85024

Single-Family Homes

Here is your weekly Market Update!



Phoenix, AZ 85024

Fri Jun 02 2023
This week the median list price for Phoenix, AZ 85024 is $587,450 with the market action index hovering around 65. This is an increase over last month's market action index of 60. Inventory has decreased 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

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 85024

Fri Jun 02 2023
This week the median list price for Phoenix, AZ 85024 is $587,450 with the market action index hovering around 65. This is an increase over last month's market action index of 60. Inventory has decreased 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

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 $587,450
Median Price of New Listings $389,000
Per Square Foot $285
Average Days on Market 65
Median Days on Market 35
Price Decreased 55%
Price Increased 0%
Relisted 0%
Inventory 20
Median Rent
Market Action 65
Strong Seller's Market

In the last few weeks we’ve seen prices in this zip code bouncing around this plateau. Look for a persistent down-shift in the Market Action Index before we see prices deviate 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
$739,000 2,439 4,500 - 6,500 sqft 4 2.5 15 0 1 35
$625,000 2,177 6,500 - 8,000 sqft 4 2.5 25 0 1 91
$570,000 1,899 4,500 - 6,500 sqft 3 2.5 36 1 1 49
$389,000 1,211 4,500 - 6,500 sqft 3 2 37 2 0 7