First Arizona Title's Market Report

Phoenix, AZ

Single-Family Homes

First Arizona Title Agency | (480) 385-6500 | www.FirstAZTitle.com



Phoenix, AZ

Thu Jun 08 2023
This week the median list price for Phoenix, AZ is $645,000 with the market action index hovering around 57. This is about the same as last month's market action index of 57. Inventory has held steady at or around 1,074. 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 not shown strong directional trends in terms of supply and demand. However, inventory is sufficiently low to keep us in the Seller’s Market zone and prices have been moving upward as evidence.

Phoenix, AZ

Thu Jun 08 2023
This week the median list price for Phoenix, AZ is $645,000 with the market action index hovering around 57. This is about the same as last month's market action index of 57. Inventory has held steady at or around 1,074. 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 not shown strong directional trends in terms of supply and demand. However, inventory is sufficiently low to keep us in the Seller’s Market zone and prices have been moving upward as evidence.

Real-Time Market Profile

Never miss important changes in the Phoenix market.
Median List Price $645,000
Median Price of New Listings $475,000
Per Square Foot $320
Average Days on Market 68
Median Days on Market 35
Price Decreased 48%
Price Increased 4%
Relisted 5%
Inventory 1,074
Median Rent
Market Action 57
Strong Seller's Market

Prices hit another all time high this week. Given current conditions, prices continue to march higher. A persistent drop of the Market Action Index into the Buyer’s zone will be a leading indicator of the price strength subsiding.

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
$1,549,000 3,364 0.25 - 0.5 acre 4 3.5 28 32 29 49
$750,000 2,321 8,000 - 10,000 sqft 4 2.5 37 40 40 35
$545,999 1,814 6,500 - 8,000 sqft 3 2 43 44 56 35
$375,000 1,409 6,500 - 8,000 sqft 3 2 52 97 95 14