Fri Jan 21 2022
This week the median list price for Phoenix, AZ is $497,500 with the market action index hovering around 75. This is about the same as last month's market action index of 75. Inventory has decreased to 785.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$497,500|
|Median Price of New Listings||$449,900|
|Per Square Foot||$283|
|Average Days on Market||55|
|Median Days on Market||35|
|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.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$994,325||3,068||0.25 - 0.5 acre||4||3||22||43||49||49|
|$585,000||2,038||8,000 - 10,000 sqft||4||2||34||52||63||35|
|$437,500||1,634||6,500 - 8,000 sqft||3||2||43||56||68||28|
|$349,900||1,308||6,500 - 8,000 sqft||3||2||54||92||87||21|