Phoenix, AZ 85006 Real Estate Market Report

ZIP Code: 85006
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 market-value signal is the median sold price of $429,950, which indicates recent transaction-level pricing and suggests a localized price dip relative to broader metro trends; down price momentum (price year-over-year trend: down) may be weighing on seller expectations.

2. There is a meaningful gap between the median listing price of $479,000 and the median sold price of $429,950, which suggests pricing friction where seller asking prices exceed realized transaction prices and may indicate sellers need to adjust expectations to achieve timely sales.

3. Long sales timelines are evident with a median days on market of 362, which points to slower sales velocity and suggests that patience or targeted pricing will be required to transact; given the market temperature is neutral, this appears to reflect balanced buyer-seller dynamics rather than a rapid market shift.

4. Rents are softening with a median market rent of $1,295 and a rent year-over-year trend of down, which may reduce investor cash-flow incentives and moderate demand from rental-focused buyers while interest rate pressure remains moderate.

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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 85006 Real Estate Market Report

ZIP Code: 85006
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 primary market indicator, median sold price $249,999, points to a localized price dip versus the broader Phoenix metro trend; this representative recent sale suggests sellers should price competitively to reflect realized transaction values (representative recent sale).

2. Liquidity appears slow: median days on market 1,378 signals protracted time-to-contract and suggests slower sales velocity, which may require longer marketing windows or price concessions to close transactions.

3. Market context is mixed: year-over-year pricing is down and market temperature is neutral, indicating a balanced yet softening market where pricing friction can coexist with stable buyer-seller dynamics rather than a clear one-sided market.

4. Rents and financing pressure are headwinds for near-term demand: median market rent $1,400 is declining (rent year-over-year trend is down) while interest rate pressure is moderate, which may compress investor yield expectations and reduce buyer affordability near-term.

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Notable Properties

The following 3 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.