Navi Title Agency

Phoenix, AZ 85050

Single-Family Homes

Here is your weekly Market Update!



Phoenix, AZ 85050

Wed Apr 24 2024
This week the median list price for Phoenix, AZ 85050 is $849,999 with the market action index hovering around 50. This is less than last month's market action index of 53. Inventory has increased to 61. 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

Market appears to have begun to cool. As we’re still notably in the Seller’s zone, prices have not yet adjusted. If the market continues to cool, then expect prices to follow lower. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer’s zone.

Phoenix, AZ 85050

Wed Apr 24 2024
This week the median list price for Phoenix, AZ 85050 is $849,999 with the market action index hovering around 50. This is less than last month's market action index of 53. Inventory has increased to 61. 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

Market appears to have begun to cool. As we’re still notably in the Seller’s zone, prices have not yet adjusted. If the market continues to cool, then expect prices to follow lower. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer’s zone.

Real-Time Market Profile

Never miss important changes in the Phoenix market.
Median List Price $849,999
Median Price of New Listings $694,000
Per Square Foot $343
Average Days on Market 66
Median Days on Market 35
Price Decreased 49%
Price Increased 2%
Relisted 2%
Inventory 61
Median Rent
Market Action 50
Strong Seller's Market

In this zip code this week saw relatively little price change from last week. However, we continue to demonstrate a nice up trend over the last several weeks.

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
$1,375,000 3,596 8,000 - 10,000 sqft 4 4 7 1 2 21
$995,000 3,094 4,500 - 6,500 sqft 4 3 13 2 3 56
$769,900 2,157 4,500 - 6,500 sqft 3 2 17 2 0 42
$607,500 1,880 4,500 - 6,500 sqft 3 2.5 28 5 5 21