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Phoenix, AZ 85042

Single-Family Homes

Here is your weekly Market Update!



Phoenix, AZ 85042

Sun Feb 09 2025
This week the median list price for Phoenix, AZ 85042 is $515,950 with the market action index hovering around 37. This is an increase over last month's market action index of 35. Inventory has decreased to 76. 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

Market Narrative

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 85042

Sun Feb 09 2025
This week the median list price for Phoenix, AZ 85042 is $515,950 with the market action index hovering around 37. This is an increase over last month's market action index of 35. Inventory has decreased to 76. 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

Market Narrative

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 $515,950
Median Price of New Listings $480,000
Per Square Foot $256
Average Days on Market 76
Median Days on Market 60
Price Decreased 55%
Price Increased 3%
Relisted 3%
Inventory 76
Median Rent
Market Action 37
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
$970,000 3,344 0.25 - 0.5 acre 4 4 14 1 2 77
$575,000 2,345 6,500 - 8,000 sqft 4 3 18 2 4 35
$489,000 1,980 4,500 - 6,500 sqft 4 2 13 3 1 77
$390,999 1,464 4,500 - 6,500 sqft 3 2 33 4 4 49