Market Report Courtesy of Amy Gerrish, REALTOR

Phoenix 85024
June 2019

Phoenix, AZ 85024

Sun Jun 23 2019 
This week the median list price for Phoenix, AZ 85024 is $396,455 with the market action index hovering around 45. This is an increase over last month’s market action index of 44. Inventory has held steady at or around 93.

Market Action Index

The Market Action Index answers the question “How’s the 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.

Strong Seller’s Market

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.