Sat Nov 27 2021
This week the median list price for Phoenix, AZ is $505,450 with the market action index hovering around 77. This is about the same as last month's market action index of 77. Inventory has held steady at or around 1,146.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$505,450|
|Median Price of New Listings||$469,900|
|Per Square Foot||$274|
|Average Days on Market||42|
|Median Days on Market||21|
|Strong Seller's Market|
The market appears to be hovering around this plateau. Look for a persistent change in the Market Action Index before we see prices deviate from these levels.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$950,000||3,132||0.25 - 0.5 acre||4||3||24||49||52||35|
|$595,000||2,130||6,500 - 8,000 sqft||4||2.5||30||87||82||21|
|$445,000||1,747||6,500 - 8,000 sqft||3||2||42||73||82||21|
|$350,000||1,357||6,500 - 8,000 sqft||3||2||60||109||114||14|