Lawyers Title Market Report

Phoenix, AZ 85007

Single-Family Homes

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Phoenix, AZ 85007

Sat Jun 12 2021
This week the median list price for Phoenix, AZ 85007 is $605,000 with the market action index hovering around 66. This is about the same as last month's market action index of 66. Inventory has held steady at or around 11. 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

Market appears to have begun to cool. As we’re still notably in the Seller’s zone, prices have not yet adjusted. If the market continues to cool, then expect prices to follow lower. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer’s zone.

Phoenix, AZ 85007

Sat Jun 12 2021
This week the median list price for Phoenix, AZ 85007 is $605,000 with the market action index hovering around 66. This is about the same as last month's market action index of 66. Inventory has held steady at or around 11. 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

Market appears to have begun to cool. As we’re still notably in the Seller’s zone, prices have not yet adjusted. If the market continues to cool, then expect prices to follow lower. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer’s zone.

Real-Time Market Profile

Never miss important changes in the Phoenix market.
Median List Price $605,000
Median Price of New Listings $0
Per Square Foot $261
Average Days on Market 95
Median Days on Market 63
Price Decreased 82%
Price Increased 9%
Relisted 18%
Inventory 11
Median Rent $1,595
Market Action 66
Strong Seller's Market

Price trends in this zip code continued their recent uptrend this week. While still below the market's high point, we've seen a nice run recently.

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
$874,950 3,272 0.25 - 0.5 acre 4 4 81 0 0 101
$699,000 1,448 6,500 - 8,000 sqft 3 2 71 0 0 91
$535,000 1,808 8,000 - 10,000 sqft 3 2 85 0 1 63
$249,900 1,014 4,500 - 6,500 sqft 3 2 90 0 0 35