Phoenix, AZ 85008 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

Market Trends & Context

Key Findings

1. The primary market indicator is the median sold price — $400,000 — which represents recent transaction levels and should be treated as the leading signal for local valuation and appraisal decisions; representative recent sale data should drive underwriting assumptions.
2. The median listing price is $444,000, which sits above the median sold price and may indicate pricing friction or seller expectations misaligned with recent transactions; the price year-over-year trend is down, reinforcing potential downward adjustment pressure.
3. The median days on market is 390, a prolonged period that signals slower sales velocity and reduced liquidity and may require time-based pricing or enhanced marketing to achieve contract outcomes; this suggests caution on time-to-close assumptions.
4. The market shows a median price per square foot of $279 alongside a median market rent of $1,410; with market temperature reported as neutral, rent year-over-year trend down, and interest rate pressure elevated, investors should expect cautious demand and factor higher financing cost sensitivity into acquisition underwriting.

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.