Phoenix, AZ 85003 Real Estate Market Report

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.

Market Metrics

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.

Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

Property Taxes

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.

Market Trends & Context

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

Key Findings

1. $666,000 median sold price is the primary indicator of recent market value and transaction activity in 85003; this level suggests realized prices are materially below current asking levels and should be used as the anchor for valuation and negotiation decisions. neutral
2. $797,750 median listing price is notably higher than the median sold price, which suggests a pricing gap that may create pricing friction between seller expectations and actual buyer-paid values — sellers and agents should consider aligning offers to comparable sold transactions to reduce days on market.
3. 456 median days on market indicates slower sales velocity and extended marketing periods, which may provide buyers with greater negotiation leverage and suggests that sellers should plan for longer holding costs or staged pricing strategies to improve traction.
4. Price trends and financing context: year-over-year price direction is down and rent trends are also down, while interest rate pressure is elevated; Current 30-year fixed mortgage rates in the 85003 area are approximately 6.6%, which may continue to weigh on buyer affordability and transaction urgency.

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.