First Arizona Title's Market Report
Phoenix, AZ
Single-Family Homes
First Arizona Title Agency | (480) 385-6500 | www.FirstAZTitle.com
Phoenix, AZ
Sun Apr 18 2021
This week the median list price for Phoenix, AZ is $500,000 with the market action index hovering around 97. This is an increase over last month's market action index of 91. Inventory has held steady at or around 607.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.
Real-Time Market Profile
| Median List Price | $500,000 | |
| Per Square Foot | $250 | |
| Days on Market | 7 | |
| Price Decreased | 18% | |
| Price Increased | 9% | |
| Relisted | 4% | |
| Inventory | 607 | |
| Median Rent | $2,000 | |
| Most Expensive | $8,900,000 | |
| Least Expensive | $139,000 | |
| Market Action | 97 | |
| 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 |
|---|---|---|---|---|---|---|---|---|
| $1,495,000 | 4,014 | 0.5 - 1 acre | 4 | 4 | 22 | 32 | 31 | 28 |
| $649,000 | 2,456 | 8,000 - 10,000 sqft | 4 | 2 | 33 | 62 | 54 | 10 |
| $409,000 | 1,815 | 6,500 - 8,000 sqft | 3 | 2 | 44 | 67 | 83 | 7 |
| $295,000 | 1,421 | 6,500 - 8,000 sqft | 3 | 2 | 55 | 91 | 98 | 0 |