Phoenix, AZ 85003 Real Estate Market Report

ZIP Code: 85003
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.

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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

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.

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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.

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Key Findings

1. The primary indicator of recent market value is the median sold price of 755,000, which signals stabilization with the market price year-over-year trend showing up while overall market temperature reads neutral.

2. There is a meaningful gap between the median listing price of 877,450 and the median sold price of 755,000, which, combined with a long median days on market of 310, suggests pricing friction and slower sales velocity that may indicate buyers are negotiating downward from asking.

3. For income and investment context, the median price per square foot is 419 and median market rent is 1,723 while rent year-over-year trend is down and interest rate pressure is moderate, implying near-term rental weakness amid cautious financing conditions.

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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.

Phoenix, AZ 85003 Real Estate Market Report

ZIP Code: 85003
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.

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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.

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Key Findings

1. The most reliable indicator of recent market value is the 372,250 median sold price, which suggests a representative recent sale level for SFR and condo properties in the neighborhood and points to price stability given current transaction data.

2. There is a meaningful gap between the 446,750 median listing price and the 372,250 median sold price, which may indicate pricing friction and seller expectations above realized transaction levels; this dynamic appears consistent with a neutral market temperature and could slow quick contract acceptance.

3. Extended time-to-contract is evident with a median days on market of 463, signifying slower sales velocity and suggesting that buyers have time to negotiate; combined with the sample’s relatively constrained active supply, this appears to favor measured pricing adjustments rather than rapid price moves.

4. Market fundamentals show mixed signals: median price per square foot of 371 supports the neighborhood’s value tier while broader indicators show prices year-over-year are up and rents year-over-year are down, with moderate interest rate pressure—this constellation suggests cautious buyer re-engagement and temporary rent softening due to new supply.

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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.