Your Localized Market Report

Phoenix, AZ 85042

Single-Family Homes

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Phoenix, AZ 85042

Tue Nov 29 2022
This week the median list price for Phoenix, AZ 85042 is $494,500 with the market action index hovering around 39. This is an increase over last month's market action index of 38. Inventory has decreased to 94. 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

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. 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, prices are likely to resume an upward climb.

Phoenix, AZ 85042

Tue Nov 29 2022
This week the median list price for Phoenix, AZ 85042 is $494,500 with the market action index hovering around 39. This is an increase over last month's market action index of 38. Inventory has decreased to 94. 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

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. 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, prices are likely to resume an upward climb.

Real-Time Market Profile

Never miss important changes in the Phoenix market.
Median List Price $494,500
Median Price of New Listings $535,000
Per Square Foot $268
Average Days on Market 81
Median Days on Market 67
Price Decreased 73%
Price Increased 4%
Relisted 6%
Inventory 94
Median Rent
Market Action 39
Slight Seller's Advantage

We continue to see prices in this zip code bouncing around this plateau. 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
$974,000 3,470 0.25 - 0.5 acre 4 3.5 10 2 3 77
$555,000 2,445 8,000 - 10,000 sqft 3 2.5 15 4 1 49
$438,999 1,775 4,500 - 6,500 sqft 3 2 20 0 3 87
$359,500 1,311 4,500 - 6,500 sqft 3 2 39 2 6 45