First American Title Market Report
Phoenix, AZ 85050
Single-Family Homes
Phoenix, AZ 85050
Wed Jan 15 2025
This week the median list price for Phoenix, AZ 85050 is $677,500 with the market action index hovering around 40. This is less than last month's market action index of 43. Inventory has increased to 70.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
Market Narrative
The market has been cooling off consistently for several weeks, as more homes are available and demand is less. We have begun to seen prices move lower as a result. If the MAI falls into the Buyer’s zone, it is likely that prices continue their downward trend until we see some turnaround in Market Action.
Real-Time Market Profile
| Median List Price | $677,500 | |
| Median Price of New Listings | $680,000 | |
| Per Square Foot | $339 | |
| Average Days on Market | 62 | |
| Median Days on Market | 46 | |
| Price Decreased | 41% | |
| Price Increased | 4% | |
| Relisted | 7% | |
| Inventory | 70 | |
| Median Rent | ||
| Market Action | 40 | |
| Slight Seller's Advantage | ||
Again this week we see a downward notch for prices in this zip code. Pricing has been weak recently and versus their absolute-high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.
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 |
|---|---|---|---|---|---|---|---|---|
| $1,400,000 | 3,552 | 8,000 - 10,000 sqft | 4 | 4 | 19 | 4 | 0 | 98 |
| $790,000 | 2,189 | 4,500 - 6,500 sqft | 4 | 3 | 28 | 2 | 1 | 49 |
| $595,000 | 1,867 | 4,500 - 6,500 sqft | 4 | 2.5 | 28 | 2 | 1 | 28 |
| $520,450 | 1,546 | 4,500 - 6,500 sqft | 3 | 2 | 29 | 5 | 1 | 28 |