BUDWIG TEAM REPORTS
Phoenix, AZ 85004
Condos/Townhomes
Your Arizona Real Estate Team
Phoenix, AZ 85004
Sat Dec 21 2024
This week the median list price for Phoenix, AZ 85004 is $604,500 with the market action index hovering around 29. This is an increase over last month's market action index of 28. Inventory has decreased to 30.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Buyer's Advantage
Market Narrative
Home sales have been exceeding new inventory for several weeks. While still a Buyer's market, prices seem to have responded by moving upward. If the demand trends continue, expect prices to keep marching upward, especially once we see a Seller's Market.
Real-Time Market Profile
| Median List Price | $604,500 | |
| Median Price of New Listings | $575,000 | |
| Per Square Foot | $381 | |
| Average Days on Market | 148 | |
| Median Days on Market | 95 | |
| Price Decreased | 47% | |
| Price Increased | 0% | |
| Relisted | 3% | |
| Inventory | 30 | |
| Median Rent | ||
| Market Action | 29 | |
| Slight Buyer's Advantage | ||
The market for this zip code continues its bounce again this week. We're a long way from the market's high point so watch the Market Action Index to predict how long this trend will last.
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 |
|---|---|---|---|---|---|---|---|---|
| $849,000 | 2,200 | 0 - 4,500 sqft | 3 | 3 | 2 | 0 | 0 | 273 |
| $725,000 | 1,812 | 0 - 4,500 sqft | 2 | 2.5 | 17 | 0 | 0 | 56 |
| $587,000 | 1,506 | 0 - 4,500 sqft | 2 | 2.3 | 18 | 1 | 1 | 112 |
| $370,000 | 1,238 | 0 - 4,500 sqft | 2 | 2 | 28 | 0 | 1 | 91 |