BUDWIG TEAM REPORTS
Phoenix, AZ 85008
Single-Family Homes
Your Arizona Real Estate Team
Phoenix, AZ 85008
Thu Sep 21 2023
This week the median list price for Phoenix, AZ 85008 is $612,250 with the market action index hovering around 53. This is less than last month's market action index of 55. Inventory has increased to 30.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.
Real-Time Market Profile
| Median List Price | $612,250 | |
| Median Price of New Listings | $770,000 | |
| Per Square Foot | $375 | |
| Average Days on Market | 52 | |
| Median Days on Market | 42 | |
| Price Decreased | 57% | |
| Price Increased | 3% | |
| Relisted | 3% | |
| Inventory | 30 | |
| Median Rent | ||
| Market Action | 53 | |
| Strong Seller's Market | ||
We continue to see prices in this zip code at a plateau even though prices dipped this week. Look for a persistent change in the Market Action Index (up or down) before we see prices significantly 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 |
|---|---|---|---|---|---|---|---|---|
| $1,195,000 | 2,331 | 8,000 - 10,000 sqft | 4 | 3 | 68 | 1 | 1 | 28 |
| $770,000 | 2,051 | 8,000 - 10,000 sqft | 3 | 3 | 40 | 2 | 3 | 42 |
| $557,000 | 1,568 | 8,000 - 10,000 sqft | 3 | 2 | 71 | 0 | 0 | 77 |
| $383,450 | 1,122 | 6,500 - 8,000 sqft | 3 | 2 | 72 | 2 | 1 | 28 |