First Arizona Title's Market Report
Phoenix, AZ
Single-Family Homes
First Arizona Title Agency | (480) 385-6500 | www.FirstAZTitle.com
Phoenix, AZ
Thu Jan 28 2021
This week the median list price for Phoenix, AZ is $455,000 with the market action index hovering around 74. This is an increase over last month's market action index of 72. Inventory has held steady at or around 752.
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
| Median List Price | $455,000 | |
| Per Square Foot | $239 | |
| Days on Market | 63 | |
| Price Decreased | 29% | |
| Price Increased | 7% | |
| Relisted | 5% | |
| Inventory | 752 | |
| Median Rent | $1,900 | |
| Most Expensive | $8,900,000 | |
| Least Expensive | $110,000 | |
| Market Action | 74 | |
| 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 |
|---|---|---|---|---|---|---|---|---|
| $1,396,500 | 4,209 | 0.5 - 1 acre | 4 | 4 | 19 | 29 | 29 | 104 |
| $579,500 | 2,265 | 8,000 - 10,000 sqft | 4 | 2 | 30 | 61 | 63 | 62 |
| $367,450 | 1,628 | 6,500 - 8,000 sqft | 3 | 2 | 46 | 71 | 80 | 42 |
| $259,900 | 1,300 | 6,500 - 8,000 sqft | 3 | 2 | 60 | 94 | 91 | 41 |