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Phoenix, AZ 85048
Single-Family Homes
Here is your weekly Market Update!
Phoenix, AZ 85048
Wed Jul 16 2025
This week the median list price for Phoenix, AZ 85048 is $616,500 with the market action index hovering around 41. This is an increase over last month's market action index of 40. Inventory has decreased to 88.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
Market Narrative
Market conditions have recently resumed tightening. As the rate of home sales increases relative to the number of homes on the market, the Market Action Index increases. Even though the MAI is technically in the Seller’s zone, prices have not yet started climbing along with the changes in Market Action, but expect them to do so if the trend continues.
Real-Time Market Profile
| Median List Price | $616,500 | |
| Median Price of New Listings | $962,000 | |
| Per Square Foot | $299 | |
| Average Days on Market | 87 | |
| Median Days on Market | 56 | |
| Price Decreased | 51% | |
| Price Increased | 1% | |
| Relisted | 3% | |
| Inventory | 88 | |
| Median Rent | ||
| Market Action | 41 | |
| Slight Seller's Advantage | ||
Prices in this zip code been on a downward trend recently and this week, while essentially flat, doesn’t break us out of that cycle. Watch the Market Action Index for any signs of demand increasing.
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 |
|---|---|---|---|---|---|---|---|---|
| $939,500 | 3,470 | 0.25 - 0.5 acre | 4 | 3.3 | 32 | 3 | 5 | 56 |
| $697,200 | 2,570 | 6,500 - 8,000 sqft | 4 | 2.8 | 32 | 1 | 0 | 49 |
| $572,500 | 1,953 | 4,500 - 6,500 sqft | 3 | 2 | 34 | 0 | 0 | 59 |
| $469,000 | 1,453 | 0 - 4,500 sqft | 3 | 2 | 33 | 2 | 2 | 66 |