BUDWIG TEAM REPORTS
Phoenix, AZ 85004
Condos/Townhomes
Your Arizona Real Estate Team
Phoenix, AZ 85004
Fri May 03 2024
This week the median list price for Phoenix, AZ 85004 is $586,449 with the market action index hovering around 27. This is less than last month's market action index of 32. Inventory has increased to 34.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Buyer's Advantage
The Market Action Index has been trending lower for several weeks while prices have remained relatively stable. If inventory continues to grow relative to demand however, it is likely that we will see downward pressure on pricing.
Real-Time Market Profile
| Median List Price | $586,449 | |
| Median Price of New Listings | $630,000 | |
| Per Square Foot | $377 | |
| Average Days on Market | 88 | |
| Median Days on Market | 67 | |
| Price Decreased | 44% | |
| Price Increased | 15% | |
| Relisted | 6% | |
| Inventory | 34 | |
| Median Rent | ||
| Market Action | 27 | |
| Slight Buyer's Advantage | ||
Prices in this zip are remaining at a plateau, albeit significantly below the market’s peak. This week prices bumped down a bit, but not enough to indicate a resumed downward trend. Look for a persistent up-shift in the Market Action Index before we see prices significantly move from these levels.
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 |
|---|---|---|---|---|---|---|---|---|
| $859,500 | 2,091 | 0 - 4,500 sqft | 3 | 3 | 2 | 1 | 0 | 66 |
| $724,950 | 1,847 | 0 - 4,500 sqft | 2 | 3 | 7 | 2 | 0 | 84 |
| $550,000 | 1,398 | 0 - 4,500 sqft | 2 | 2 | 20 | 0 | 2 | 84 |
| $350,000 | 1,210 | 0 - 4,500 sqft | 2 | 2 | 65 | 2 | 2 | 42 |