Empire Title Agency's Market Report

Phoenix, AZ

Single-Family Homes

www.ewtaz.com | MarketReports@ewtaz.com | (602) 749-7000



Phoenix, AZ

Thu Sep 16 2021
This week the median list price for Phoenix, AZ is $497,000 with the market action index hovering around 80. This is less than last month's market action index of 83. Inventory has held steady at or around 1,071. 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

The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Phoenix, AZ

Thu Sep 16 2021
This week the median list price for Phoenix, AZ is $497,000 with the market action index hovering around 80. This is less than last month's market action index of 83. Inventory has held steady at or around 1,071. 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

The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Real-Time Market Profile

Never miss important changes in the Phoenix market.
Median List Price $497,000
Median Price of New Listings $432,500
Per Square Foot $271
Average Days on Market 43
Median Days on Market 21
Price Decreased 36%
Price Increased 6%
Relisted 6%
Inventory 1,071
Median Rent $2,280
Market Action 80
Strong Seller's Market

The market appears to be 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
$950,000 3,218 0.25 - 0.5 acre 4 3 27 48 56 35
$587,950 2,153 6,500 - 8,000 sqft 4 2 28 77 71 21
$435,000 1,660 6,500 - 8,000 sqft 3 2 44 72 83 21
$329,000 1,303 6,500 - 8,000 sqft 3 2 60 109 110 14