First American Title Market Report

Phoenix, AZ 85044

Single-Family Homes



Phoenix, AZ 85044

Sun Oct 06 2024
This week the median list price for Phoenix, AZ 85044 is $527,600 with the market action index hovering around 45. This is about the same as last month's market action index of 45. Inventory has increased to 65. 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

Market Narrative

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

Phoenix, AZ 85044

Sun Oct 06 2024
This week the median list price for Phoenix, AZ 85044 is $527,600 with the market action index hovering around 45. This is about the same as last month's market action index of 45. Inventory has increased to 65. 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

Market Narrative

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

Real-Time Market Profile

Never miss important changes in the Phoenix market.
Median List Price $527,600
Median Price of New Listings $528,750
Per Square Foot $292
Average Days on Market 55
Median Days on Market 35
Price Decreased 40%
Price Increased 2%
Relisted 3%
Inventory 65
Median Rent
Market Action 45
Strong Seller's Market

Again this week we see prices in this zip code remain roughly at the level they’ve been for several weeks. Since we’re significantly below the top of the market, 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
$885,000 2,721 8,000 - 10,000 sqft 4 3 34 3 2 56
$565,000 1,966 8,000 - 10,000 sqft 4 2 41 4 4 17
$505,000 1,661 6,500 - 8,000 sqft 3 2 39 5 1 14
$399,000 1,397 6,500 - 8,000 sqft 2 2 45 2 0 63