Navi TITLE

Phoenix, AZ 85018

Single-Family Homes

Here is your weekly Market Update!



Phoenix, AZ 85018

Mon Dec 02 2024
This week the median list price for Phoenix, AZ 85018 is $1,995,000 with the market action index hovering around 34. This is an increase over last month's market action index of 33. Inventory has held steady at or around 127. 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.

Slight Seller's Advantage

Market Narrative

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Phoenix, AZ 85018

Mon Dec 02 2024
This week the median list price for Phoenix, AZ 85018 is $1,995,000 with the market action index hovering around 34. This is an increase over last month's market action index of 33. Inventory has held steady at or around 127. 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.

Slight Seller's Advantage

Market Narrative

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Real-Time Market Profile

Never miss important changes in the Phoenix market.
Median List Price $1,995,000
Median Price of New Listings $1,250,000
Per Square Foot $611
Average Days on Market 95
Median Days on Market 56
Price Decreased 46%
Price Increased 1%
Relisted 5%
Inventory 127
Median Rent
Market Action 34
Slight Seller's Advantage

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.

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
$4,839,999 5,209 0.5 - 1 acre 5 5 20 5 5 28
$2,425,000 3,599 0.25 - 0.5 acre 4 4 13 1 5 80
$1,502,500 2,698 8,000 - 10,000 sqft 4 3 62 2 3 52
$749,950 1,629 6,500 - 8,000 sqft 3 2 69 5 3 49