Lawyers Title Market Report

Phoenix, AZ 85008

Single-Family Homes

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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. 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 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.

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. 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 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

Never miss important changes in the Phoenix market.
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