Old Republic Title's Market Report

Phoenix, AZ

Single-Family Homes



Phoenix, AZ

Tue Mar 19 2024
This week the median list price for Phoenix, AZ is $598,900 with the market action index hovering around 46. This is an increase over last month's market action index of 44. Inventory has increased to 1,659. 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

Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.

Phoenix, AZ

Tue Mar 19 2024
This week the median list price for Phoenix, AZ is $598,900 with the market action index hovering around 46. This is an increase over last month's market action index of 44. Inventory has increased to 1,659. 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

Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.

Real-Time Market Profile

Never miss important changes in the Phoenix market.
Median List Price $598,900
Median Price of New Listings $499,000
Per Square Foot $311
Average Days on Market 73
Median Days on Market 42
Price Decreased 48%
Price Increased 5%
Relisted 6%
Inventory 1,659
Median Rent
Market Action 46
Strong Seller's Market

The market is hovering around this plateau. Look for a persistent change 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
$1,375,000 3,388 0.25 - 0.5 acre 4 4 21 42 38 63
$714,900 2,208 6,500 - 8,000 sqft 4 3 31 54 62 35
$500,000 1,764 6,500 - 8,000 sqft 3 2 38 81 77 35
$384,900 1,420 6,500 - 8,000 sqft 3 2 53 103 106 35