Navi Title Agency

Phoenix, AZ

Single-Family Homes

Here is your weekly Market Update!



Phoenix, AZ

Fri Jun 02 2023
This week the median list price for Phoenix, AZ is $639,900 with the market action index hovering around 57. This is about the same as last month's market action index of 57. Inventory has decreased to 1,082. 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

The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.

Phoenix, AZ

Fri Jun 02 2023
This week the median list price for Phoenix, AZ is $639,900 with the market action index hovering around 57. This is about the same as last month's market action index of 57. Inventory has decreased to 1,082. 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

The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.

Real-Time Market Profile

Never miss important changes in the Phoenix market.
Median List Price $639,900
Median Price of New Listings $495,000
Per Square Foot $317
Average Days on Market 68
Median Days on Market 35
Price Decreased 49%
Price Increased 4%
Relisted 5%
Inventory 1,082
Median Rent
Market Action 57
Strong Seller's Market

Prices hit another all time high this week. Given current conditions, prices continue to march higher. A persistent drop of the Market Action Index into the Buyer’s zone will be 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
$1,499,500 3,351 0.25 - 0.5 acre 4 3.5 28 25 29 49
$749,000 2,326 8,000 - 10,000 sqft 4 2.5 35 48 38 35
$545,000 1,833 6,500 - 8,000 sqft 3 2 43 55 50 28
$386,000 1,454 6,500 - 8,000 sqft 3 2 51 97 89 21