Navi Title Agency
Phoenix, AZ 85013
Single-Family Homes
Here is your weekly Market Update!
Phoenix, AZ 85013
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.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
In the last few weeks, the market has been at a stasis point in terms of sales to inventory. However, prices seem to continue to fall a bit. Technically supply levels indicate this is a Seller’s market so it is likely that the downward pricing pressure will be light or variable. Watch for an up-shift in the MAI before price stability is achieved.
Real-Time Market Profile
| 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 | |
| Price Decreased | 59% | |
| Price Increased | 9% | |
| Relisted | 14% | |
| Inventory | 22 | |
| Median Rent | ||
| Market Action | 50 | |
| 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.
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 |
|---|---|---|---|---|---|---|---|---|
| $1,529,500 | 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 |