First Integrity Title Market Report

Phoenix, AZ

Condos/Townhomes

www.FirstIntegrityTitle.com | 303.837.9171


Phoenix, AZ

Thu Dec 08 2022
This week the median list price for Phoenix, AZ is $324,900 with the market action index hovering around 38. This is less than last month's market action index of 39. Inventory has decreased to 648. 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 have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to 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

Thu Dec 08 2022
This week the median list price for Phoenix, AZ is $324,900 with the market action index hovering around 38. This is less than last month's market action index of 39. Inventory has decreased to 648. 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 have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to 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 $324,900
Median Price of New Listings $315,000
Per Square Foot $280
Average Days on Market 74
Median Days on Market 63
Price Decreased 54%
Price Increased 1%
Relisted 4%
Inventory 648
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
$525,000 1,647 0 - 4,500 sqft 2 2 17 13 18 70
$359,950 1,275 0 - 4,500 sqft 2 2 26 8 14 59
$300,000 1,070 0 - 4,500 sqft 2 2 37 10 21 56
$213,000 924 0 - 4,500 sqft 2 1.5 41 16 24 56