Tue Jul 14 2020
This week the median list price for Phoenix, AZ is $475,000 with the market action index hovering around 62. This is an increase over last month's market action index of 55. Inventory has held steady at or around 1,123.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$475,000|
|Per Square Foot||$219|
|Days on Market||82|
|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 significantly from here.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$1,144,000||3,810||0.25 - 0.5 acre||4||4||23||22||29||138|
|$595,000||2,616||8,000 - 10,000 sqft||4||3||26||51||77||80|
|$395,000||1,924||0 - 4,500 sqft||4||2||31||82||79||58|
|$260,000||1,529||0 - 4,500 sqft||3||2||50||126||143||51|