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Phoenix, AZ 85008

Single-Family Homes

Here is your weekly Market Update!



Phoenix, AZ 85008

Mon May 05 2025
This week the median list price for Phoenix, AZ 85008 is $543,900 with the market action index hovering around 40. This is an increase over last month's market action index of 37. Inventory has increased to 47. 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.

Slight Seller's Advantage

Market Narrative

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.

Phoenix, AZ 85008

Mon May 05 2025
This week the median list price for Phoenix, AZ 85008 is $543,900 with the market action index hovering around 40. This is an increase over last month's market action index of 37. Inventory has increased to 47. 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.

Slight Seller's Advantage

Market Narrative

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

Never miss important changes in the Phoenix market.
Median List Price $543,900
Median Price of New Listings $487,500
Per Square Foot $382
Average Days on Market 90
Median Days on Market 49
Price Decreased 51%
Price Increased 4%
Relisted 11%
Inventory 47
Median Rent
Market Action 40
Slight Seller's Advantage

Again this week we see prices in this zip code remain roughly at the level they’ve been for several weeks. Since we’re significantly below the top of the market, look for a persistent up-shift in the Market Action Index before we see prices move 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
$1,099,000 2,700 8,000 - 10,000 sqft 4 3 19 0 1 70
$662,499 1,674 6,500 - 8,000 sqft 3 2 69 0 4 98
$499,900 1,558 6,500 - 8,000 sqft 3 2 71 2 0 66
$392,500 1,088 6,500 - 8,000 sqft 3 2 75 2 4 28