Tue Jun 06 2023
This week the median list price for Phoenix, AZ 85029 is $422,450 with the market action index hovering around 63. This is about the same as last month's market action index of 63. Inventory has increased to 28.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$422,450|
|Median Price of New Listings||$409,950|
|Per Square Foot||$257|
|Average Days on Market||71|
|Median Days on Market||35|
|Strong Seller's Market|
Prices in this zip code seem to have settled around a plateau. Look for a persistent down-shift in the Market Action Index before we see prices deviate from these levels.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$649,000||2,143||8,000 - 10,000 sqft||4||2.5||50||0||0||126|
|$439,500||1,751||6,500 - 8,000 sqft||4||2||52||2||1||21|
|$415,000||1,690||8,000 - 10,000 sqft||3||2||52||1||0||42|
|$360,000||1,372||6,500 - 8,000 sqft||3||2||52||3||3||7|