Phoenix, AZ 85086 Real Estate Market Report

ZIP Code: 85086
Report Date: February 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

As of February 2026, the housing market in Phoenix, AZ (ZIP: 85086) is characterized by a median sold price of $602,500, reflecting a market that has seen a slight decline in values. This indicates a down trend in pricing, aligning with broader market adjustments. The median listing price stands at $691,950, suggesting a notable gap between seller expectations and actual transaction values, which may contribute to pricing friction in the current market environment.

Transaction activity appears to be moderated, with homes taking an average of 146 days on market. This extended timeframe indicates a slower sales velocity and suggests that buyers may be exercising caution in their purchasing decisions. Additionally, the market temperature is currently assessed as neutral, indicating a balanced environment where supply and demand are relatively aligned, despite elevated inventory levels. Overall, the combination of increasing inventory and longer selling times may point to a market adjusting to new economic conditions.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

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Property Taxes

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Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Phoenix, AZ, around 6.01% are slightly higher than the average 5.625% seen for similar loans earlier in 2026, suggesting a locked-in rate may be favorable.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The median sold price of $602,500 indicates a market experiencing down pricing pressure.

2. With a median listing price of $691,950, there is a significant gap between asking prices and actual sales, suggesting potential pricing friction.

3. Homes are taking an average of 146 days on market, reflecting a slower sales velocity in the current environment.

4. The market temperature is classified as neutral, indicating a balanced state between supply and demand.

5. Elevated inventory levels suggest excess supply relative to sales activity, which may impact future pricing trends.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.