Navi Title Agency

Phoenix, AZ 85003

Single-Family Homes

Here is your weekly Market Update!



Phoenix, AZ 85003

Mon Dec 11 2023
This week the median list price for Phoenix, AZ 85003 is $834,999 with the market action index hovering around 35. This is an increase over last month's market action index of 30. Inventory has decreased to 12. 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.

Slight Seller's Advantage

While the Market Action Index shows some strengthening in the last few weeks, prices have not seemed to move from their plateau. Should the upward trend in sales relative to inventory continue, expect prices to resume an upward climb in tandem with the MAI.

Phoenix, AZ 85003

Mon Dec 11 2023
This week the median list price for Phoenix, AZ 85003 is $834,999 with the market action index hovering around 35. This is an increase over last month's market action index of 30. Inventory has decreased to 12. 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.

Slight Seller's Advantage

While the Market Action Index shows some strengthening in the last few weeks, prices have not seemed to move from their plateau. Should the upward trend in sales relative to inventory continue, expect prices to resume an upward climb in tandem with the MAI.

Real-Time Market Profile

Never miss important changes in the Phoenix market.
Median List Price $834,999
Median Price of New Listings $0
Per Square Foot $446
Average Days on Market 74
Median Days on Market 53
Price Decreased 33%
Price Increased 0%
Relisted 0%
Inventory 12
Median Rent
Market Action 35
Slight Seller's Advantage

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
$1,090,000 2,121 0.25 - 0.5 acre 4 2 111 0 1 28
$889,000 1,971 6,500 - 8,000 sqft 3 2 75 0 1 28
$780,000 1,814 6,500 - 8,000 sqft 3 2 75 0 1 154
$479,900 1,435 4,500 - 6,500 sqft 3 2 86 0 1 91