Navi Title Agency

Phoenix, AZ 85037

Single-Family Homes

Here is your weekly Market Update!



Phoenix, AZ 85037

Wed Feb 21 2024
This week the median list price for Phoenix, AZ 85037 is $416,500 with the market action index hovering around 47. This is an increase over last month's market action index of 45. Inventory has held steady at or around 48. 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

While the Market Action Index shows some strengthening in the last few weeks, prices have not seemed to move from their plateau. Should the upward trend in sales relative to inventory continue, expect prices to resume an upward climb in tandem with the MAI.

Phoenix, AZ 85037

Wed Feb 21 2024
This week the median list price for Phoenix, AZ 85037 is $416,500 with the market action index hovering around 47. This is an increase over last month's market action index of 45. Inventory has held steady at or around 48. 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

While the Market Action Index shows some strengthening in the last few weeks, prices have not seemed to move from their plateau. Should the upward trend in sales relative to inventory continue, expect prices to resume an upward climb in tandem with the MAI.

Real-Time Market Profile

Never miss important changes in the Phoenix market.
Median List Price $416,500
Median Price of New Listings $399,500
Per Square Foot $238
Average Days on Market 55
Median Days on Market 28
Price Decreased 40%
Price Increased 4%
Relisted 4%
Inventory 48
Median Rent
Market Action 47
Strong Seller's Market

Prices in this zip code seem to have settled around a plateau. Look for a persistent down-shift 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
$532,495 2,585 6,500 - 8,000 sqft 4 3 13 1 0 80
$447,500 2,144 6,500 - 8,000 sqft 4 3 23 3 1 21
$393,950 1,556 6,500 - 8,000 sqft 3 2 33 3 1 24
$347,450 1,371 4,500 - 6,500 sqft 3 2 41 5 2 38