Navi Title Agency

Phoenix, AZ 85045

Single-Family Homes

Here is your weekly Market Update!


Phoenix, AZ 85045

Mon Dec 11 2023
This week the median list price for Phoenix, AZ 85045 is $714,950 with the market action index hovering around 41. This is less than last month's market action index of 45. Inventory has increased to 20. 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.

Slight Seller's Advantage

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to 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 85045

Mon Dec 11 2023
This week the median list price for Phoenix, AZ 85045 is $714,950 with the market action index hovering around 41. This is less than last month's market action index of 45. Inventory has increased to 20. 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.

Slight Seller's Advantage

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to 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 $714,950
Median Price of New Listings $0
Per Square Foot $292
Average Days on Market 57
Median Days on Market 49
Price Decreased 40%
Price Increased 0%
Relisted 5%
Inventory 20
Median Rent
Market Action 41
Slight Seller's Advantage

We continue to see prices in this zip code bouncing around this plateau. Look for a persistent up-shift in the Market Action Index before we see prices move 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
$1,100,000 3,494 0.25 - 0.5 acre 4 4 4 0 0 119
$760,000 2,602 8,000 - 10,000 sqft 4 3 27 0 1 35
$649,000 2,532 4,500 - 6,500 sqft 4 3 21 0 1 56
$499,000 1,661 4,500 - 6,500 sqft 3 2 24 0 1 49