Navi Title Agency

Phoenix, AZ

Single-Family Homes

Here is your weekly Market Update!



Phoenix, AZ

Sat Sep 30 2023
This week the median list price for Phoenix, AZ is $610,000 with the market action index hovering around 56. This is less than last month's market action index of 57. Inventory has increased to 1,264. 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 has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Phoenix, AZ

Sat Sep 30 2023
This week the median list price for Phoenix, AZ is $610,000 with the market action index hovering around 56. This is less than last month's market action index of 57. Inventory has increased to 1,264. 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 has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Real-Time Market Profile

Never miss important changes in the Phoenix market.
Median List Price $610,000
Median Price of New Listings $479,450
Per Square Foot $306
Average Days on Market 59
Median Days on Market 35
Price Decreased 46%
Price Increased 3%
Relisted 6%
Inventory 1,264
Median Rent
Market Action 56
Strong Seller's Market

The market is hovering around this plateau. Look for a persistent change in the Market Action Index before we see prices deviate from these levels.

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
$1,350,000 3,171 0.25 - 0.5 acre 4 4 24 36 34 49
$699,949 2,228 8,000 - 10,000 sqft 4 3 32 53 31 42
$515,000 1,819 6,500 - 8,000 sqft 3 2 38 66 50 28
$385,000 1,448 6,500 - 8,000 sqft 3 2 52 99 84 21