Lawyers Title Market Report

Phoenix, AZ 85023

Single-Family Homes

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Phoenix, AZ 85023

Sat Jun 12 2021
This week the median list price for Phoenix, AZ 85023 is $454,000 with the market action index hovering around 95. This is an increase over last month's market action index of 89. Inventory has decreased to 12. 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 85023

Sat Jun 12 2021
This week the median list price for Phoenix, AZ 85023 is $454,000 with the market action index hovering around 95. This is an increase over last month's market action index of 89. Inventory has decreased to 12. 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 $454,000
Median Price of New Listings $379,900
Per Square Foot $241
Average Days on Market 37
Median Days on Market 25
Price Decreased 25%
Price Increased 8%
Relisted 0%
Inventory 12
Median Rent $2,138
Market Action 95
Strong Seller's Market

Again this week we see prices in this zip code remain roughly at the level they’ve been for several weeks. Since we’re significantly below the top of the market, 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
$1,200,000 3,575 0.5 - 1 acre 3 4 49 0 0 35
$989,000 3,470 0.5 - 1 acre 4 3 30 1 2 63
$415,000 2,096 6,500 - 8,000 sqft 3 2 42 2 3 14
$290,000 1,200 6,500 - 8,000 sqft 3 1 45 2 3 21