First American Title Market Report

Phoenix, AZ 85044

Single-Family Homes



Phoenix, AZ 85044

Thu Mar 28 2024
This week the median list price for Phoenix, AZ 85044 is $529,700 with the market action index hovering around 53. This is an increase over last month's market action index of 48. Inventory has decreased to 42. 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

Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.

Phoenix, AZ 85044

Thu Mar 28 2024
This week the median list price for Phoenix, AZ 85044 is $529,700 with the market action index hovering around 53. This is an increase over last month's market action index of 48. Inventory has decreased to 42. 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

Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.

Real-Time Market Profile

Never miss important changes in the Phoenix market.
Median List Price $529,700
Median Price of New Listings $525,000
Per Square Foot $295
Average Days on Market 63
Median Days on Market 21
Price Decreased 45%
Price Increased 7%
Relisted 7%
Inventory 42
Median Rent
Market Action 53
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
$702,000 2,701 8,000 - 10,000 sqft 4 3 33 3 0 14
$574,950 2,100 4,500 - 6,500 sqft 4 3 31 0 1 28
$499,000 1,661 6,500 - 8,000 sqft 3 2 41 2 4 28
$425,000 1,381 6,500 - 8,000 sqft 2 2 45 2 0 28