Your Local Real Estate Market Update

Phoenix, AZ

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Phoenix, AZ

Tue Oct 19 2021
This week the median list price for Phoenix, AZ is $499,900 with the market action index hovering around 77. This is less than last month's market action index of 79. Inventory has increased to 1,150. 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

The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its 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

Tue Oct 19 2021
This week the median list price for Phoenix, AZ is $499,900 with the market action index hovering around 77. This is less than last month's market action index of 79. Inventory has increased to 1,150. 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

The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its 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 $499,900
Median Price of New Listings $439,900
Per Square Foot $271
Average Days on Market 41
Median Days on Market 21
Price Decreased 39%
Price Increased 5%
Relisted 6%
Inventory 1,150
Median Rent $2,338
Market Action 77
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 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
$940,614 3,124 0.25 - 0.5 acre 4 3 23 49 46 28
$595,000 2,204 8,000 - 10,000 sqft 4 2 30 81 61 21
$439,450 1,680 6,500 - 8,000 sqft 3 2 42 76 73 21
$330,000 1,310 6,500 - 8,000 sqft 3 2 60 115 125 14