Mon Oct 19 2020
This week the median list price for Phoenix, AZ 85044 is $464,900 with the market action index hovering around 77. This is an increase over last month's market action index of 74. Inventory has held steady at or around 32.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$464,900|
|Per Square Foot||$212|
|Days on Market||73|
|Strong Seller's Market|
Again this week we see a downward notch for prices in this zip code. Pricing has been weak recently and versus their absolute-high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$1,494,500||6,375||0.5 - 1 acre||5||5||26||0||0||185|
|$804,000||3,445||0.25 - 0.5 acre||4||3||33||2||3||67|
|$394,950||1,973||0 - 4,500 sqft||3||2||32||2||2||22|
|$347,200||1,651||0 - 4,500 sqft||3||2||41||3||5||16|