Thu Apr 02 2020
This week the median list price for Phoenix, AZ is $449,000 with the market action index hovering around 57. This is an increase over last month's market action index of 55. Inventory has held steady at or around 1672.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$449,000|
|Per Square Foot||$208|
|Days on Market||72|
|Strong Seller's Market|
While this week the median didn’t fluctuate much, prices continue to sit at all time highs. A persistent drop of the Market Action Index into the Buyer’s zone will be a leading indicator of the price strength subsiding.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$999,949||3,786||0.25 - 0.5 acre||4||3||20||55||36||117|
|$539,945||2,546||8,000 - 10,000 sqft||4||3||27||108||55||78|
|$370,000||1,847||0 - 4,500 sqft||3||2||33||154||82||47|
|$239,900||1,400||0 - 4,500 sqft||3||2||50||191||112||42|