Lawyers Title Market Report
Phoenix, AZ 85008
Single-Family Homes
Lawyers Title Arizona | www.LawyersTitleArizona.com | 602.257.2600
Phoenix, AZ 85008
Mon Jun 21 2021
This week the median list price for Phoenix, AZ 85008 is $512,449 with the market action index hovering around 66. This is about the same as last month's market action index of 66. Inventory has held steady at or around 28.
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 not seemed to move from their plateau. Should the upward trend in sales relative to inventory continue, expect prices to resume an upward climb in tandem with the MAI.
Real-Time Market Profile
| Median List Price | $512,449 | |
| Median Price of New Listings | $452,000 | |
| Per Square Foot | $262 | |
| Average Days on Market | 62 | |
| Median Days on Market | 32 | |
| Price Decreased | 18% | |
| Price Increased | 21% | |
| Relisted | 4% | |
| Inventory | 28 | |
| Median Rent | $1,710 | |
| Market Action | 66 | |
| Strong Seller's Market | ||
We continue to see prices in this zip bounce around these current levels. Look for a persistent change in the Market Action Index before we see prices deviate 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 |
|---|---|---|---|---|---|---|---|---|
| $799,000 | 2,800 | 0.25 - 0.5 acre | 4 | 3 | 68 | 1 | 1 | 28 |
| $525,000 | 2,045 | 6,500 - 8,000 sqft | 3 | 2 | 0 | 2 | 0 | 147 |
| $475,000 | 1,700 | 6,500 - 8,000 sqft | 3 | 2 | 65 | 0 | 2 | 21 |
| $379,000 | 1,200 | 6,500 - 8,000 sqft | 3 | 1 | 69 | 3 | 4 | 7 |