BUDWIG TEAM REPORTS
Phoenix, AZ 85008
Single-Family Homes
Your Arizona Real Estate Team
Phoenix, AZ 85008
Sat Dec 21 2024
This week the median list price for Phoenix, AZ 85008 is $572,000 with the market action index hovering around 43. This is about the same as last month's market action index of 43. Inventory has increased to 44.
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 started cooling and prices have been flat for several weeks. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its 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
| Median List Price | $572,000 | |
| Median Price of New Listings | $399,700 | |
| Per Square Foot | $368 | |
| Average Days on Market | 102 | |
| Median Days on Market | 74 | |
| Price Decreased | 59% | |
| Price Increased | 7% | |
| Relisted | 16% | |
| Inventory | 44 | |
| Median Rent | ||
| Market Action | 43 | |
| Slight Seller's Advantage | ||
Prices in this zip code are bouncing around near term trough. Look for a persistent up-shift in the Market Action Index before we see prices move significantly from here.
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 |
|---|---|---|---|---|---|---|---|---|
| $950,000 | 3,170 | 8,000 - 10,000 sqft | 5 | 3 | 59 | 0 | 0 | 35 |
| $650,000 | 1,569 | 8,000 - 10,000 sqft | 3 | 2 | 70 | 0 | 0 | 70 |
| $500,000 | 1,603 | 6,500 - 8,000 sqft | 3 | 2 | 69 | 1 | 0 | 70 |
| $370,000 | 1,170 | 6,500 - 8,000 sqft | 3 | 2 | 74 | 3 | 1 | 126 |