First Integrity Title Market Report

Phoenix, AZ

Condos/Townhomes

www.FirstIntegrityTitle.com | 888-636-0372



Phoenix, AZ

Wed May 22 2024
This week the median list price for Phoenix, AZ is $350,000 with the market action index hovering around 40. This is about the same as last month's market action index of 40. Inventory has increased to 765. 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 remains in a relative stasis in terms of sales to inventory. Prices have not been moving higher for several weeks. 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 persistently, prices are likely to resume an upward climb.

Phoenix, AZ

Wed May 22 2024
This week the median list price for Phoenix, AZ is $350,000 with the market action index hovering around 40. This is about the same as last month's market action index of 40. Inventory has increased to 765. 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 remains in a relative stasis in terms of sales to inventory. Prices have not been moving higher for several weeks. 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 persistently, prices are likely to resume an upward climb.

Real-Time Market Profile

Never miss important changes in the Phoenix market.
Median List Price $350,000
Median Price of New Listings $342,500
Per Square Foot $300
Average Days on Market 74
Median Days on Market 42
Price Decreased 50%
Price Increased 3%
Relisted 5%
Inventory 765
Median Rent
Market Action 40
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
$668,880 1,781 0 - 4,500 sqft 2 3 17 19 9 56
$420,000 1,329 0 - 4,500 sqft 2 2 23 28 25 35
$309,000 1,067 0 - 4,500 sqft 2 2 40 26 27 42
$215,000 850 0 - 4,500 sqft 2 1 43 25 27 42