Altos Research - Market Data for Realtors
Phoenix, AZ 85032 Report for the week of 3-30-2018 Current Real Estate Market Conditions for Single-Family Homes Trends in Pricing Current Levels of Supply and Demand Value Metrics
Presented by Mike Simonsen (650) 399-7600 mike+website@altosresearch.com
Single-Family Homes
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This week the median list price for Phoenix, AZ 85032 is $319,950 with the market action index hovering around 61. This is an increase over last month's market action index of 59. Inventory has held steady at or around 110.
Phoenix, AZ 85032
Real-Time Market Profile Median List Price
$319,950
Per Square Foot
$176
Market Action Index
Days on Market
54
The Market Action Index answers the question "How's the
Price Decreased
46%
Price Increased
4%
Relisted
6%
Inventory
110
Median House Rent
$1,432
Most Expensive
$579,000
Strong Seller's Market
Least Expensive
$100,000
The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.
Market Action Index Strong Seller's Market
61
Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies Seller's Market conditions. Below 30, conditions favor the buyer.
Today Last Month
0
61
100
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
$479,000
2,716
0.25 - 0.5 acre
4
2
27
9
4
65
$359,900
1,970
0 - 4,500 sqft
3
2
27
4
3
57
$284,950
1,679
0 - 4,500 sqft
3
2
42
4
4
39
$229,900
1,365
4,500 - 6,500 sqft
3
2
42
7
2
56
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Single-Family Homes
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Phoenix, AZ 85032
Median List Price While this week the median price in this zip code didn’t fluctuate much, we are relatively close to the market’s high-water mark. Watch for persistent downward shift in the Market Action Index into the Buyer’s zone as a leading indicator of the price strength subsiding. $350K
$325K
$300K
$275K
$250K
$225K
$200K Apr 2015
Sep 2015
Feb 2016
Aug 2016
Avg 7-Day
Jan 2017
Jun 2017
Mar 2018
Avg 90-Day
Segments In the quartile market segments, we see prices in this zip code generally settled at a plateau, although Quartile 2 is on a bit of an up trend in recent weeks. We'll need to see a persistent shift in the Market Action Index before we see prices across the board move from these levels. $500K
$400K
$300K
$200K
$100K
$0 Apr 2015
Sep 2015
First/Top 90-Day
Feb 2016
Aug 2016
Second/Upper 90-Day
Jan 2017
Third/Lower 90-Day
Jun 2017
Mar 2018
Fourth/Bottom 90-Day
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Single-Family Homes
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Phoenix, AZ 85032
Price Per Square Foot In a market where prices are rising fairly consistently, price per square foot is essentially at. This often implies that new homes coming on the market are pricier, and also larger than older homes. As a result the value one can buy stays the same. $180
$170
$160
$150
$140
$130 Apr 2015
Sep 2015
Feb 2016
Aug 2016
Avg 7-Day
Jan 2017
Jun 2017
Mar 2018
Avg 90-Day
Inventory Inventory has been falling in recent weeks. Note that declining inventory alone does not signal a strengthening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is changing with the available supply. 300
250
200
150
100
50 Apr 2015
Sep 2015
Feb 2016
Aug 2016
Avg 7-Day
Jan 2017
Jun 2017
Mar 2018
Avg 90-Day
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Single-Family Homes
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Phoenix, AZ 85032
Market Action Index The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend. 120
100
80
60
40
20 Apr 2015
Sep 2015
Feb 2016
Aug 2016
Avg 7-Day
Jan 2017
Jun 2017
Mar 2018
Avg 90-Day
Market Action Segments Not surprisingly, all segments in this zip code are showing high levels of demand. Watch the quartiles for changes before the whole market changes. Often one end of the market (e.g. the high-end) will weaken before the rest of the market and signal a slowdown for the whole group. 90
80
70
60
50
40
30 Apr 2015
Sep 2015
First/Top 90-Day
Feb 2016
Aug 2016
Second/Upper 90-Day
Jan 2017
Third/Lower 90-Day
Jun 2017
Mar 2018
Fourth/Bottom 90-Day
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Single-Family Homes
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Phoenix, AZ 85032
Average Days on Market (DOM) The properties have been on the market for an average of 63 days. Half of the listings have come newly on the market in the past 35 or so days. Watch the 90-day DOM trend for signals of a changing market. 110 100 90 80 70 60 50 40 Apr 2015
Sep 2015
Feb 2016
Aug 2016
Avg 7-Day
Jan 2017
Jun 2017
Mar 2018
Avg 90-Day
Segments It is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles. 120
100
80
60
40
20 Apr 2015
Sep 2015
First/Top 90-Day
Feb 2016
Aug 2016
Second/Upper 90-Day
Jan 2017
Third/Lower 90-Day
Jun 2017
Mar 2018
Fourth/Bottom 90-Day
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