Lawyers Title Market Report
Phoenix, AZ 85029
Single-Family Homes
Lawyers Title Arizona | www.LawyersTitleArizona.com | 602.257.2600
Phoenix, AZ 85029
Mon Jun 21 2021
This week the median list price for Phoenix, AZ 85029 is $370,000 with the market action index hovering around 99. This is less than last month's market action index of 100. Inventory has increased to 22.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
The market remains in a relative stasis in terms of sales to inventory and prices have been relatively stable for a few weeks. 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 | $370,000 | |
| Median Price of New Listings | $344,972 | |
| Per Square Foot | $219 | |
| Average Days on Market | 14 | |
| Median Days on Market | 4 | |
| Price Decreased | 14% | |
| Price Increased | 5% | |
| Relisted | 5% | |
| Inventory | 22 | |
| Median Rent | $1,900 | |
| Market Action | 99 | |
| Strong Seller's Market | ||
While the median price in this zip code hasn’t moved much in the last few weeks, we are relatively close to the market’s high-water mark. Watch for persistent downward shift in the Market Action Index into the Buyer’s zone as a leading indicator of the price strength subsiding.
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 |
|---|---|---|---|---|---|---|---|---|
| $450,000 | 1,710 | 8,000 - 10,000 sqft | 3 | 2 | 49 | 2 | 2 | 7 |
| $395,000 | 1,939 | 6,500 - 8,000 sqft | 4 | 2 | 50 | 3 | 0 | 7 |
| $354,925 | 1,743 | 6,500 - 8,000 sqft | 4 | 2 | 55 | 4 | 4 | 0 |
| $317,500 | 1,391 | 0 - 4,500 sqft | 3 | 2 | 50 | 5 | 4 | 3 |