Phoenix, AZ 85007 Real Estate Market Report

ZIP Code: 85007
Report Date: April 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.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Phoenix, AZ 85007 average 6.23%, which is 0.58% lower than the 6.81% rates observed in this market one year ago.

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 primary market indicator is the median sold price; 459,000 represents realized market value and recent transaction activity, and it aligns with the broader price year-over-year trend which is down.

2. A meaningful spread between the 574,900 median listing price and the 459,000 median sold price suggests pricing friction where seller expectations exceed recent transaction levels, which may indicate longer negotiation cycles and pricing friction.

3. Median days on market at 313 points to slower sales velocity and reduced liquidity; coupled with a market temperature described as neutral, this appears to create a balanced but elongated transaction timeline rather than a hot seller market.

4. Elevated interest rate pressure and financing context—current 30-year fixed mortgage rates average 6.23%, which is 0.58% lower than one year ago—combined with a rent year-over-year trend that is down, may constrain buyer affordability and dampen investor demand in the near term.

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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.