Fri Dec 01 2023
This week the median list price for Phoenix, AZ 85008 is $549,000 with the market action index hovering around 47. This is less than last month's market action index of 50. Inventory has increased to 33.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$549,000|
|Median Price of New Listings||$415,000|
|Per Square Foot||$336|
|Average Days on Market||60|
|Median Days on Market||35|
|Strong Seller's Market|
Recently prices in this zip have settled at a plateau even though they dipped this week. Look for a persistent up-shift in the Market Action Index before we see prices significantly move 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|
|$1,025,000||2,150||8,000 - 10,000 sqft||4||3||69||0||0||59|
|$627,250||1,910||6,500 - 8,000 sqft||3||2||59||2||0||84|
|$509,500||1,599||6,500 - 8,000 sqft||3||2||69||2||1||21|
|$389,000||1,258||6,500 - 8,000 sqft||3||2||73||5||3||0|