Mon Jun 21 2021
This week the median list price for Phoenix, AZ 85050 is $564,200 with the market action index hovering around 91. This is less than last month's market action index of 93. Inventory has decreased to 28.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$564,200|
|Median Price of New Listings||$790,000|
|Per Square Foot||$280|
|Average Days on Market||20|
|Median Days on Market||11|
|Strong Seller's Market|
We continue to see prices in this zip code settled at a plateau. This week prices bumped down a bit but not significantly enough to change the overall outlook. Look for a persistent change (up or down) in the Market Action Index before we see prices significantly 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|
|$930,000||3,795||0.25 - 0.5 acre||5||4||15||3||2||14|
|$725,000||2,363||6,500 - 8,000 sqft||3||2||15||2||4||7|
|$510,000||1,648||4,500 - 6,500 sqft||3||2||25||1||2||14|
|$439,000||1,570||4,500 - 6,500 sqft||3||2||25||1||4||7|