First Integrity Title Market Report

Phoenix, AZ

Condos/Townhomes

www.FirstIntegrityTitle.com | 888-636-0372



Phoenix, AZ

Fri Jul 26 2024
This week the median list price for Phoenix, AZ is $345,000 with the market action index hovering around 38. This is about the same as last month's market action index of 38. Inventory has held steady at or around 782. 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

The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Phoenix, AZ

Fri Jul 26 2024
This week the median list price for Phoenix, AZ is $345,000 with the market action index hovering around 38. This is about the same as last month's market action index of 38. Inventory has held steady at or around 782. 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

The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Real-Time Market Profile

Never miss important changes in the Phoenix market.
Median List Price $345,000
Median Price of New Listings $315,000
Per Square Foot $298
Average Days on Market 81
Median Days on Market 56
Price Decreased 49%
Price Increased 1%
Relisted 6%
Inventory 782
Median Rent
Market Action 38
Slight Seller's Advantage

The market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this trend.

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
$640,000 1,735 0 - 4,500 sqft 2 2.5 11 10 8 77
$400,000 1,335 0 - 4,500 sqft 2 2 25 24 21 42
$305,000 1,060 0 - 4,500 sqft 2 2 40 33 24 38
$215,000 836 0 - 4,500 sqft 2 1 43 22 16 63