Fri Dec 01 2023
This week the median list price for Phoenix, AZ 85013 is $667,000 with the market action index hovering around 50. This is an increase over last month's market action index of 49. Inventory has decreased to 22.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$667,000|
|Median Price of New Listings||$560,000|
|Per Square Foot||$375|
|Average Days on Market||67|
|Median Days on Market||35|
|Strong Seller's Market|
Again this week in this zip code we see a downward notch for prices. We continue to pull back from the market’s highs. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$1,529,500||3,164||0.25 - 0.5 acre||5||4||1||0||1||14|
|$725,000||1,910||8,000 - 10,000 sqft||3||2||73||0||1||28|
|$624,999||1,895||8,000 - 10,000 sqft||4||2.5||71||1||1||105|
|$512,000||1,310||4,500 - 6,500 sqft||3||2||70||0||0||38|