the AZ market
Phoenix, AZ 85028
Single-Family Homes
Phoenix, AZ 85028
Fri Sep 04 2026
This week the median list price for Phoenix, AZ 85028 is $714,500 with the market action index hovering around 38. This is about the same as last month's market action index of 38. Inventory has decreased to 52.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
Market Narrative
Market conditions have recently resumed tightening. As the rate of home sales increases relative to the number of homes on the market, the Market Action Index increases. Even though the MAI is technically in the Seller’s zone, prices have not yet started climbing along with the changes in Market Action, but expect them to do so if the trend continues.
Real-Time Market Profile
| Median List Price | $714,500 | |
| Median Price of New Listings | $737,500 | |
| Per Square Foot | $378 | |
| Average Days on Market | 66 | |
| Median Days on Market | 63 | |
| Price Decreased | 58% | |
| Price Increased | 0% | |
| Relisted | 2% | |
| Inventory | 52 | |
| Median Rent | ||
| Market Action | 38 | |
| Slight Seller's Advantage | ||
Again this week we see a downward notch for prices in this zip code. We continue to pull back from the market’s highs. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.
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 |
|---|---|---|---|---|---|---|---|---|
| $1,262,000 | 2,823 | 0.25 - 0.5 acre | 4 | 3 | 51 | 0 | 1 | 70 |
| $850,000 | 2,147 | 0.25 - 0.5 acre | 4 | 2 | 49 | 1 | 3 | 56 |
| $680,000 | 1,926 | 0.25 - 0.5 acre | 3 | 2 | 53 | 0 | 0 | 35 |
| $559,000 | 1,532 | 4,500 - 6,500 sqft | 3 | 2 | 39 | 1 | 2 | 70 |