Your Localized Market Report

Phoenix, AZ 85029

Single-Family Homes

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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. 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

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.

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. 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

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

Never miss important changes in the Phoenix 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
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