Navi Title Agency

Phoenix, AZ 85027

Single-Family Homes

Here is your weekly Market Update!



Phoenix, AZ 85027

Fri Dec 01 2023
This week the median list price for Phoenix, AZ 85027 is $415,000 with the market action index hovering around 60. This is less than last month's market action index of 68. 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 over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Phoenix, AZ 85027

Fri Dec 01 2023
This week the median list price for Phoenix, AZ 85027 is $415,000 with the market action index hovering around 60. This is less than last month's market action index of 68. 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 over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Real-Time Market Profile

Never miss important changes in the Phoenix market.
Median List Price $415,000
Median Price of New Listings $414,950
Per Square Foot $287
Average Days on Market 31
Median Days on Market 28
Price Decreased 48%
Price Increased 3%
Relisted 3%
Inventory 31
Median Rent
Market Action 60
Strong Seller's Market

Prices in this zip code seem to have settled around a plateau. Look for a persistent down-shift in the Market Action Index before we see prices deviate 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
$519,000 1,884 6,500 - 8,000 sqft 4 2 44 2 1 21
$432,450 1,560 6,500 - 8,000 sqft 3 2 37 0 0 42
$399,500 1,423 4,500 - 6,500 sqft 3 2 29 2 1 38
$354,950 1,095 6,500 - 8,000 sqft 3 2 40 2 1 14