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.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's 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|
|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.
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|