Navi Title Agency

Phoenix, AZ 85008

Single-Family Homes

Here is your weekly Market Update!



Phoenix, AZ 85008

Fri Jun 02 2023
This week the median list price for Phoenix, AZ 85008 is $649,000 with the market action index hovering around 51. This is less than last month's market action index of 54. Inventory has held steady at or around 27. 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 85008

Fri Jun 02 2023
This week the median list price for Phoenix, AZ 85008 is $649,000 with the market action index hovering around 51. This is less than last month's market action index of 54. Inventory has held steady at or around 27. 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 $649,000
Median Price of New Listings $389,500
Per Square Foot $323
Average Days on Market 46
Median Days on Market 28
Price Decreased 52%
Price Increased 0%
Relisted 0%
Inventory 27
Median Rent
Market Action 51
Strong Seller's Market

You can see that prices in this zip code are marching upward and that we’re getting close to the market’s all time high. Watch for persistent downward shift in the Market Action Index into the Buyer’s zone as 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
$1,299,500 3,080 0.25 - 0.5 acre 4 3.8 3 1 0 28
$777,000 2,329 8,000 - 10,000 sqft 3 2.5 67 0 0 63
$579,000 1,865 8,000 - 10,000 sqft 3 2 66 1 1 35
$324,900 1,174 6,500 - 8,000 sqft 3 1 73 4 2 7