Your Localized Market Report
Phoenix, AZ 85029
Single-Family Homes
Lawyers Title Arizona | www.LawyersTitleArizona.com | 602.257.2600
Phoenix, AZ 85029
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.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
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
| 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 | |
| Price Decreased | 50% | |
| Price Increased | 7% | |
| Relisted | 0% | |
| Inventory | 28 | |
| Median Rent | ||
| Market Action | 63 | |
| 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.
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 |
|---|---|---|---|---|---|---|---|---|
| $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 |