Phoenix, AZ 85006 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. The neighborhood's primary market signal is the median sold price of 384,000, which represents the most reliable indicator of realized value in recent transactions and suggests current closed-market pricing for SFR and condo product in 85006.
2. There is a notable spread between the median listing price of 500,000 and the median sold price of 384,000, which may indicate pricing friction and elevated seller expectations relative to transaction outcomes; this gap appears to be contributing to slower deal execution.
3. The market shows prolonged selling timelines, with a median days on market of 411, which signals downward velocity and suggests slower transaction volume versus faster-turning markets.
4. Market context is mixed: price year-over-year trend is down, rent year-over-year trend is down, market temperature is neutral, and interest rate pressure is elevated; combined, these signals point to a market with relatively constrained active supply in the analyzed sample but weakening price momentum and higher financing headwinds.

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.