Fri Dec 01 2023
This week the median list price for Phoenix, AZ 85024 is $645,000 with the market action index hovering around 50. This is less than last month's market action index of 57. Inventory has increased to 49.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$645,000|
|Median Price of New Listings||$769,965|
|Per Square Foot||$327|
|Average Days on Market||45|
|Median Days on Market||28|
|Strong Seller's Market|
Prices in this zip code seem to have settled around a 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|
|$1,069,950||2,822||8,000 - 10,000 sqft||4||3||1||5||0||21|
|$672,000||2,266||4,500 - 6,500 sqft||4||3||16||4||1||17|
|$559,000||1,842||6,500 - 8,000 sqft||3||2||25||1||2||38|
|$444,000||1,251||4,500 - 6,500 sqft||3||2||37||1||2||28|