Lawyers Title Market Report

Phoenix, AZ 85021

Single-Family Homes

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Phoenix, AZ 85021

Mon Jun 21 2021
This week the median list price for Phoenix, AZ 85021 is $875,000 with the market action index hovering around 83. This is less than last month's market action index of 87. Inventory has increased to 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

Market appears to have begun to cool. As we’re still notably in the Seller’s zone, prices have not yet adjusted. If the market continues to cool, then expect prices to follow lower. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer’s zone.

Phoenix, AZ 85021

Mon Jun 21 2021
This week the median list price for Phoenix, AZ 85021 is $875,000 with the market action index hovering around 83. This is less than last month's market action index of 87. Inventory has increased to 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

Market appears to have begun to cool. As we’re still notably in the Seller’s zone, prices have not yet adjusted. If the market continues to cool, then expect prices to follow lower. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer’s zone.

Real-Time Market Profile

Never miss important changes in the Phoenix market.
Median List Price $875,000
Median Price of New Listings $975,000
Per Square Foot $283
Average Days on Market 47
Median Days on Market 7
Price Decreased 22%
Price Increased 7%
Relisted 4%
Inventory 27
Median Rent $1,800
Market Action 83
Strong Seller's Market

The market for this zip code continues its bounce again this week. We're a long way from the market's high point so watch the Market Action Index to predict how long this trend will last.

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
$1,570,000 4,087 0.25 - 0.5 acre 4 3 45 1 2 35
$1,100,000 3,234 0.25 - 0.5 acre 5 3 45 5 2 0
$659,000 1,922 0.25 - 0.5 acre 3 2 62 1 1 7
$398,000 1,520 8,000 - 10,000 sqft 3 2 64 2 6 7