Navi Title Agency

Phoenix, AZ 85020

Single-Family Homes

Here is your weekly Market Update!



Phoenix, AZ 85020

Wed May 22 2024
This week the median list price for Phoenix, AZ 85020 is $839,999 with the market action index hovering around 41. This is less than last month's market action index of 43. Inventory has held steady at or around 69. 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

The market has started cooling and prices have recently plateaued. Since 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 85020

Wed May 22 2024
This week the median list price for Phoenix, AZ 85020 is $839,999 with the market action index hovering around 41. This is less than last month's market action index of 43. Inventory has held steady at or around 69. 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

The market has started cooling and prices have recently plateaued. Since 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 $839,999
Median Price of New Listings $880,000
Per Square Foot $372
Average Days on Market 72
Median Days on Market 49
Price Decreased 51%
Price Increased 1%
Relisted 7%
Inventory 69
Median Rent
Market Action 41
Slight Seller's Advantage

In the last few weeks we’ve seen prices in this zip code bouncing around this plateau. Look for a persistent down-shift 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
$1,790,000 3,603 0.25 - 0.5 acre 4 4 25 2 2 56
$950,000 2,453 0.25 - 0.5 acre 4 3 56 5 4 63
$673,000 2,141 6,500 - 8,000 sqft 3 3 52 1 2 49
$377,000 1,240 8,000 - 10,000 sqft 2 2 70 3 4 35