Your Localized Market Report

Phoenix, AZ 85042

Single-Family Homes

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Phoenix, AZ 85042

Wed Jul 06 2022
This week the median list price for Phoenix, AZ 85042 is $525,000 with the market action index hovering around 78. This is less than last month's market action index of 89. Inventory has increased to 77. 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.

Strong Seller's Market

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 85042

Wed Jul 06 2022
This week the median list price for Phoenix, AZ 85042 is $525,000 with the market action index hovering around 78. This is less than last month's market action index of 89. Inventory has increased to 77. 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.

Strong Seller's Market

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 $525,000
Median Price of New Listings $474,000
Per Square Foot $298
Average Days on Market 26
Median Days on Market 14
Price Decreased 39%
Price Increased 5%
Relisted 8%
Inventory 77
Median Rent
Market Action 78
Strong Seller's Market

Again this week we see prices in this zip code remain roughly at the level they’ve been for several weeks. Since we’re significantly below the top of the market, look for a persistent up-shift in the Market Action Index before we see prices 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
$1,037,000 3,184 0.5 - 1 acre 4 3.5 11 5 0 28
$580,000 2,176 8,000 - 10,000 sqft 3 2.5 17 3 1 7
$485,000 1,841 6,500 - 8,000 sqft 3 2 20 7 3 14
$397,450 1,245 6,500 - 8,000 sqft 3 2 47 7 3 7