Phoenix, AZ 85007 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

Key Findings

1. The neighborhood's primary market indicator, the median sold price of $308,000, signals recent transaction values are substantially below asking expectations, with the median listing price at $499,400 creating a noticeable spread that may indicate pricing friction and seller expectations exceeding realized market value. pricing gap
2. Liquidity appears slow: the median days on market of 397 suggests extended time-to-sale and slower sales velocity, which, combined with the observed listing-to-sale price gap, may indicate sellers will need to be more competitive to transact in a timely manner. slower transaction velocity
3. Market temperature is neutral while the price year-over-year trend is down, indicating a cooling market that is moving toward balance rather than overheating; under these conditions, buyers may find more negotiating leverage but transactions are still occurring at lower price points. balanced but cooling
4. Rents and financing headwinds are softening demand: the median market rent of $1,250 and a rent year-over-year trend that is down, together with elevated interest rate pressure, suggest affordability constraints for renters and buyers that could further moderate price appreciation near term. elevated interest rate pressure

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.