Fri Jun 02 2023
This week the median list price for Phoenix, AZ 85003 is $762,000 with the market action index hovering around 56. This is an increase over last month's market action index of 50. Inventory has decreased to 6.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$762,000|
|Median Price of New Listings||$344,900|
|Per Square Foot||$420|
|Average Days on Market||119|
|Median Days on Market||60|
|Strong Seller's Market|
We continue to see prices in this zip code bouncing around this plateau. Look for a persistent up-shift in the Market Action Index before we see prices move from these levels.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$900,000||1,964||0.25 - 0.5 acre||3||3||102||0||0||49|
|$762,000||1,347||6,500 - 8,000 sqft||2||2||82||0||0||56|
|$459,950||2,420||4,500 - 6,500 sqft||5||3||28||1||0||91|