Navi Title Agency

Phoenix, AZ 85020

Single-Family Homes

Here is your weekly Market Update!



Phoenix, AZ 85020

Fri Jun 02 2023
This week the median list price for Phoenix, AZ 85020 is $849,000 with the market action index hovering around 47. This is less than last month's market action index of 48. Inventory has increased to 45. 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

Market appears to have begun to cool. As we’re still notably in the Seller’s zone, prices have not yet adjusted. If the market continues to cool, then expect prices to follow lower. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer’s zone.

Phoenix, AZ 85020

Fri Jun 02 2023
This week the median list price for Phoenix, AZ 85020 is $849,000 with the market action index hovering around 47. This is less than last month's market action index of 48. Inventory has increased to 45. 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

Market appears to have begun to cool. As we’re still notably in the Seller’s zone, prices have not yet adjusted. If the market continues to cool, then expect prices to follow lower. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer’s zone.

Real-Time Market Profile

Never miss important changes in the Phoenix market.
Median List Price $849,000
Median Price of New Listings $567,500
Per Square Foot $375
Average Days on Market 64
Median Days on Market 42
Price Decreased 44%
Price Increased 9%
Relisted 9%
Inventory 45
Median Rent
Market Action 47
Strong Seller's Market

You can see that prices in this zip code are marching upward and that we’re getting close to the market’s all time high. Watch for persistent downward shift in the Market Action Index into the Buyer’s zone as a leading indicator of the price strength subsiding.

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
$1,549,000 3,428 0.25 - 0.5 acre 4 3 42 0 0 56
$965,000 2,648 0.25 - 0.5 acre 3 3 52 1 0 35
$749,000 1,964 6,500 - 8,000 sqft 3 2.5 64 3 0 42
$435,000 1,270 8,000 - 10,000 sqft 3 2 56 4 1 35