Navi Title Agency

Phoenix, AZ 85048

Single-Family Homes

Here is your weekly Market Update!



Phoenix, AZ 85048

Sun Feb 25 2024
This week the median list price for Phoenix, AZ 85048 is $788,000 with the market action index hovering around 48. This is an increase over last month's market action index of 45. Inventory has decreased to 48. 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

The market has begun to heat up in recent weeks. We’re already in a Seller’s market and not surprisingly prices are showing evidence of moving up along with the lower levels of inventory.

Phoenix, AZ 85048

Sun Feb 25 2024
This week the median list price for Phoenix, AZ 85048 is $788,000 with the market action index hovering around 48. This is an increase over last month's market action index of 45. Inventory has decreased to 48. 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

The market has begun to heat up in recent weeks. We’re already in a Seller’s market and not surprisingly prices are showing evidence of moving up along with the lower levels of inventory.

Real-Time Market Profile

Never miss important changes in the Phoenix market.
Median List Price $788,000
Median Price of New Listings $669,000
Per Square Foot $298
Average Days on Market 65
Median Days on Market 35
Price Decreased 46%
Price Increased 2%
Relisted 4%
Inventory 48
Median Rent
Market Action 48
Strong Seller's Market

Prices is this zip code this week saw relatively little change from last week. However the market appears to be trying to establish an uptrend. Keep an eye on the Market Action Index to determine if demand will help push prices higher.

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
$1,245,000 3,572 0.25 - 0.5 acre 4 4 29 1 3 35
$845,000 3,030 8,000 - 10,000 sqft 4 3 30 1 2 28
$699,500 2,478 6,500 - 8,000 sqft 4 3 32 2 2 52
$506,487 1,715 4,500 - 6,500 sqft 3 3 32 2 2 52