Altos Research - Market Data for Realtors
Phoenix, AZ 85050 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 85050 is $444,950 with the market action index hovering around 50. This is an increase over last month's market action index of 48. Inventory has held steady at or around 96.
Phoenix, AZ 85050
Real-Time Market Profile Median List Price
$444,950
Per Square Foot
$189
Market Action Index
Days on Market
59
The Market Action Index answers the question "How's the
Price Decreased
54%
Price Increased
3%
Relisted
6%
Inventory
96
Median House Rent
$1,970
Most Expensive
$1,279,000
Strong Seller's Market
Least Expensive
$243,500
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
50
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
50
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
$700,000
3,798
8,000 - 10,000 sqft
4
3
11
0
4
96
$569,000
2,912
0 - 4,500 sqft
4
3
12
2
4
58
$384,247
1,951
0 - 4,500 sqft
3
2
22
10
8
35
$283,000
1,573
0 - 4,500 sqft
3
2
21
7
4
46
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Single-Family Homes
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Phoenix, AZ 85050
Median List Price In this zip code this week saw relatively little price change from last week. However, we continue to demonstrate a nice up trend over the last several weeks. $550K
$500K
$450K
$400K
$350K
$300K 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 the middle of the market in this zip code staying on an up trend lately, while Quartiles 1 and 4 are mixed. The Market Action Index for Quartiles 1 and 4 can tell us whether they are about to resume an upward price trend or whether we're at the beginning of a decline. $800K $700K $600K $500K $400K $300K $200K $100K 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 85050
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. $195 $190 $185 $180 $175 $170 $165 $160 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. 200
175
150
125
100
75 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
Altos Research - Market Data for Realtors Generate leads and engage clients with Altos Reports. Schedule a demo today at altos.re.
Phoenix, AZ 85050
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 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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Single-Family Homes
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Phoenix, AZ 85050
Average Days on Market (DOM) The properties have been on the market for an average of 69 days. Half of the listings have come newly on the market in the past 44 or so days. Watch the 90-day DOM trend for signals of a changing market. 100
90
80
70
60
50 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. 175
150
125
100
75
50
25 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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