Navi Title Agency

Phoenix, AZ 85042

Single-Family Homes

Here is your weekly Market Update!



Phoenix, AZ 85042

Tue Jul 16 2024
This week the median list price for Phoenix, AZ 85042 is $532,000 with the market action index hovering around 52. This is an increase over last month's market action index of 51. Inventory has decreased to 50. 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

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 85042

Tue Jul 16 2024
This week the median list price for Phoenix, AZ 85042 is $532,000 with the market action index hovering around 52. This is an increase over last month's market action index of 51. Inventory has decreased to 50. 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

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 $532,000
Median Price of New Listings $523,250
Per Square Foot $265
Average Days on Market 59
Median Days on Market 42
Price Decreased 58%
Price Increased 2%
Relisted 4%
Inventory 50
Median Rent
Market Action 52
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
$875,000 3,025 0.25 - 0.5 acre 4 4 9 0 1 42
$589,950 2,429 8,000 - 10,000 sqft 4 3 19 2 2 56
$479,900 1,886 4,500 - 6,500 sqft 3 3 25 3 3 21
$420,000 1,632 4,500 - 6,500 sqft 3 2 23 1 3 42