Median price reveals the mid-point of the homes sampled. Half the homes are above this number and half are below. Median is not the same as average. Median is a more reliable measure than average in real estate because a few high-priced homes in a sample might skew the results if an average was used.

A rising median price might mean that sellers in an area are responding to more demand, and prices rise. Conversely, a falling median price may indicate a slowing in the demand for homes in that area and sellers are agreeing to take less for their homes.

This is the number of actively listed ARMLS (Arizona Regional Multiple Listing Service) properties available for sale in the sample area. It does not include sold listings, listings under contract, pending listings, For Sale By Owner (FSBO) properties or homes not yet built. Depending on your search criteria, this may include both single family and condo listings.

This metric tracks the average number of calendar days that a property listing sits active on the market without an accepted offer. It differs from a “Time on Market” measure which excludes properties that are removed from the market without selling.

The Market Action Index answers the question “How is the market in this area?” The MAI illustrates the balance between supply and demand for housing using a statistical function of the current rate of sale versus current inventory for homes in the sample area around greater Phoenix. The scale ranges from 0-60 and 30 shows balance.

When the MAI reading exceeds 30, it is considered a “seller’s market.” These conditions will likely reflect steady or rising prices and moderate to low inventory.

An MAI reading between 27-33 indicates an evenly balanced market between sellers and buyers.

When the MAI falls below 30, it is considered a “buyer’s market.” These conditions will likely reflect steady or falling prices and moderate to high inventory.

This is the median current asking price for homes in a sample divided by the average livable square footage. Garages, open porches, barns, sheds, unfinished basements and raw attic space are not included.