Peoria, AZ 85383 Real Estate Market Report

ZIP Code: 85383
Report Date: February 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The median sold price in Peoria, AZ is $639,000, reflecting a market that has seen a down trend in prices year-over-year. This indicates a decrease in buyer activity and potential pricing pressure as the market stabilizes following a recent downturn. The elevated inventory levels suggest that sellers may be adjusting their expectations in response to the current market dynamics, with a median listing price of $736,995 indicating a notable gap between asking and sold prices.

In terms of market velocity, properties are spending a median of 127 days on market, which points to a slower sales pace. Despite these challenges, the overall market temperature remains neutral, suggesting that while there is excess supply relative to sales activity, the market is not experiencing extreme fluctuations. The moderately high mortgage rates continue to exert pressure on affordability, which may further influence buyer sentiment and market performance in the coming months.

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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 the Peoria AZ market average around 6.04% compared to 6.87% one year ago, presenting a significant refinancing opportunity for owners who locked in higher 2026 rates.

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 $639,000 indicates a down trend in home values, reflecting current market challenges.

2. With a median listing price of $736,995, there is a significant gap between asking prices and sold prices, suggesting potential pricing friction.

3. Properties are taking a median of 127 days on market, indicating slower sales velocity and a need for sellers to adjust expectations.

4. The market temperature is neutral, highlighting a balance between supply and demand despite elevated inventory levels.

5. Moderately high mortgage rates are contributing to elevated interest rate pressure, impacting buyer affordability and overall market activity.

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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.