BUDWIG TEAM REPORTS
Phoenix, AZ 85050
Single-Family Homes
Your Arizona Real Estate Team
Phoenix, AZ 85050
Sat May 04 2024
This week the median list price for Phoenix, AZ 85050 is $897,499 with the market action index hovering around 47. This is less than last month's market action index of 55. Inventory has increased to 62.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Market conditions have been consistently cooling in the past several weeks. Because we’re still in the Seller’s zone, prices have not yet begun to drop. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect prices to fall if the index persistently falls to the Buyer’s zone.
Real-Time Market Profile
| Median List Price | $897,499 | |
| Median Price of New Listings | $800,000 | |
| Per Square Foot | $348 | |
| Average Days on Market | 48 | |
| Median Days on Market | 28 | |
| Price Decreased | 47% | |
| Price Increased | 0% | |
| Relisted | 2% | |
| Inventory | 62 | |
| Median Rent | ||
| Market Action | 47 | |
| Strong Seller's Market | ||
Price trends in this zip code continued their recent uptrend this week. While still below the market's high point, we've seen a nice run recently.
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 |
|---|---|---|---|---|---|---|---|---|
| $1,300,000 | 3,596 | 8,000 - 10,000 sqft | 4 | 4 | 7 | 0 | 1 | 28 |
| $975,000 | 3,039 | 4,500 - 6,500 sqft | 4 | 3 | 13 | 4 | 2 | 14 |
| $772,450 | 2,159 | 4,500 - 6,500 sqft | 3 | 2 | 17 | 2 | 1 | 45 |
| $577,500 | 1,799 | 4,500 - 6,500 sqft | 3 | 2 | 28 | 4 | 5 | 24 |