Fri Jan 21 2022
This week the median list price for Phoenix, AZ 85029 is $414,156 with the market action index hovering around 77. This is an increase over last month's market action index of 72. Inventory has decreased to 26.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$414,156|
|Median Price of New Listings||$369,950|
|Per Square Foot||$235|
|Average Days on Market||23|
|Median Days on Market||18|
|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.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$484,000||2,267||8,000 - 10,000 sqft||4||2||50||0||2||42|
|$427,000||1,914||8,000 - 10,000 sqft||4||2||47||0||1||28|
|$409,900||1,658||8,000 - 10,000 sqft||3||2||52||3||4||7|
|$360,972||1,423||6,500 - 8,000 sqft||3||2||52||5||6||0|