Lawyers Title Market Report

Phoenix, AZ 85042

Single-Family Homes

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Phoenix, AZ 85042

Mon Jun 21 2021
This week the median list price for Phoenix, AZ 85042 is $478,500 with the market action index hovering around 89. This is less than last month's market action index of 92. Inventory has increased to 36. 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

Market appears to have begun to cool. As we’re still notably in the Seller’s zone, prices have not yet adjusted. If the market continues to cool, then expect prices to follow lower. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer’s zone.

Phoenix, AZ 85042

Mon Jun 21 2021
This week the median list price for Phoenix, AZ 85042 is $478,500 with the market action index hovering around 89. This is less than last month's market action index of 92. Inventory has increased to 36. 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

Market appears to have begun to cool. As we’re still notably in the Seller’s zone, prices have not yet adjusted. If the market continues to cool, then expect prices to follow lower. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer’s zone.

Real-Time Market Profile

Never miss important changes in the Phoenix market.
Median List Price $478,500
Median Price of New Listings $407,500
Per Square Foot $245
Average Days on Market 24
Median Days on Market 7
Price Decreased 17%
Price Increased 11%
Relisted 6%
Inventory 36
Median Rent $2,455
Market Action 89
Strong Seller's Market

Price trends in this zip code continued their recent uptrend this week. While still below the market's high point, we've seen a nice run recently.

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
$860,000 3,100 0.5 - 1 acre 4 3 17 2 3 21
$631,100 2,535 8,000 - 10,000 sqft 4 3 17 2 3 35
$435,000 1,852 6,500 - 8,000 sqft 3 2 21 5 4 0
$349,000 1,693 6,500 - 8,000 sqft 3 2 21 5 4 0