BUDWIG TEAM REPORTS

Phoenix, AZ 85008

Single-Family Homes

Your Arizona Real Estate Team



Phoenix, AZ 85008

Wed Feb 28 2024
This week the median list price for Phoenix, AZ 85008 is $549,450 with the market action index hovering around 48. This is an increase over last month's market action index of 44. Inventory has decreased to 34. 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

While the Market Action Index shows some strengthening in the last few weeks, prices have settled in a bit of a plateau. We are currently in a Seller’s market so prices will likely resume their climb should this trend persist.

Phoenix, AZ 85008

Wed Feb 28 2024
This week the median list price for Phoenix, AZ 85008 is $549,450 with the market action index hovering around 48. This is an increase over last month's market action index of 44. Inventory has decreased to 34. 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

While the Market Action Index shows some strengthening in the last few weeks, prices have settled in a bit of a plateau. We are currently in a Seller’s market so prices will likely resume their climb should this trend persist.

Real-Time Market Profile

Never miss important changes in the Phoenix market.
Median List Price $549,450
Median Price of New Listings $599,500
Per Square Foot $323
Average Days on Market 65
Median Days on Market 39
Price Decreased 53%
Price Increased 3%
Relisted 0%
Inventory 34
Median Rent
Market Action 48
Strong Seller's Market

We continue to see prices in this zip code bouncing around this plateau. Look for a persistent up-shift in the Market Action Index before we see prices move 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
$842,000 2,601 6,500 - 8,000 sqft 4 3 12 1 2 31
$600,000 1,815 6,500 - 8,000 sqft 3 2 66 3 1 10
$539,000 1,639 6,500 - 8,000 sqft 3 2 69 1 1 77
$498,000 1,544 6,500 - 8,000 sqft 3 2 71 1 0 28