Clear Title Agency of Arizona

Phoenix, AZ 85008

Single-Family Homes

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Phoenix, AZ 85008

Fri Jul 01 2022
This week the median list price for Phoenix, AZ 85008 is $525,000 with the market action index hovering around 75. This is less than last month's market action index of 86. Inventory has increased to 31. 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

The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. However, the market is still notably in the Seller’s zone so we haven’t yet seen prices move lower as a result. 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 85008

Fri Jul 01 2022
This week the median list price for Phoenix, AZ 85008 is $525,000 with the market action index hovering around 75. This is less than last month's market action index of 86. Inventory has increased to 31. 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

The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. However, the market is still notably in the Seller’s zone so we haven’t yet seen prices move lower as a result. 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 $525,000
Median Price of New Listings $495,900
Per Square Foot $361
Average Days on Market 27
Median Days on Market 14
Price Decreased 39%
Price Increased 3%
Relisted 3%
Inventory 31
Median Rent
Market Action 75
Strong Seller's Market

Though in this zip code this week saw relatively little price change from last week, the market seems to be show some signs of strength. Keep an eye on the Market Action Index to see if this short-term trend can establish itself over the coming months.

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
$725,000 1,936 8,000 - 10,000 sqft 4 2 67 0 1 14
$550,000 1,525 6,500 - 8,000 sqft 3 2 67 2 0 14
$477,950 1,246 4,500 - 6,500 sqft 3 1.8 67 4 0 3
$330,000 1,178 4,500 - 6,500 sqft 2 1.8 73 3 0 7