Your Localized Market Report

Phoenix, AZ 85023

Single-Family Homes

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Phoenix, AZ 85023

Sat Dec 03 2022
This week the median list price for Phoenix, AZ 85023 is $465,000 with the market action index hovering around 38. This is an increase over last month's market action index of 37. Inventory has decreased to 83. 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

While the Market Action Index shows some strengthening in the last few weeks, prices have settled in a bit of a plateau. We are currently in a Seller’s market so prices will likely resume their climb should this trend persist.

Phoenix, AZ 85023

Sat Dec 03 2022
This week the median list price for Phoenix, AZ 85023 is $465,000 with the market action index hovering around 38. This is an increase over last month's market action index of 37. Inventory has decreased to 83. 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

While the Market Action Index shows some strengthening in the last few weeks, prices have settled in a bit of a plateau. We are currently in a Seller’s market so prices will likely resume their climb should this trend persist.

Real-Time Market Profile

Never miss important changes in the Phoenix market.
Median List Price $465,000
Median Price of New Listings $547,500
Per Square Foot $275
Average Days on Market 73
Median Days on Market 56
Price Decreased 66%
Price Increased 0%
Relisted 2%
Inventory 83
Median Rent
Market Action 38
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
$699,450 2,505 0.25 - 0.5 acre 4 2.5 43 3 5 49
$499,000 1,871 6,500 - 8,000 sqft 3 2 28 1 2 49
$450,000 1,632 6,500 - 8,000 sqft 3 2 43 1 1 63
$399,999 1,498 6,500 - 8,000 sqft 3 2 41 0 4 63