Your Localized Market Report

Phoenix, AZ 85008

Single-Family Homes

Lawyers Title Arizona & Grand Canyon Title Agency www.LawyersTitleArizona.com & www.gcta.com



Phoenix, AZ 85008

Tue Jul 01 2025
This week the median list price for Phoenix, AZ 85008 is $494,900 with the market action index hovering around 36. This is less than last month's market action index of 40. Inventory has held steady at or around 63. 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 started cooling and prices have recently plateaued. 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.

Phoenix, AZ 85008

Tue Jul 01 2025
This week the median list price for Phoenix, AZ 85008 is $494,900 with the market action index hovering around 36. This is less than last month's market action index of 40. Inventory has held steady at or around 63. 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 started cooling and prices have recently plateaued. 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

Never miss important changes in the Phoenix market.
Median List Price $494,900
Median Price of New Listings $399,900
Per Square Foot $346
Average Days on Market 79
Median Days on Market 49
Price Decreased 57%
Price Increased 5%
Relisted 5%
Inventory 63
Median Rent
Market Action 36
Slight Seller's Advantage

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
$1,087,000 2,770 8,000 - 10,000 sqft 4 3 5 2 1 94
$541,950 1,632 6,500 - 8,000 sqft 3 2 71 1 2 56
$399,450 1,502 8,000 - 10,000 sqft 3 2 71 3 1 31
$249,000 847 0 - 4,500 sqft 2 1 26 1 1 28