Phoenix, AZ 85009 Real Estate Market Report

ZIP Code: 85009
Report Date: February 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The Phoenix, AZ (ZIP: 85009) market is currently characterized by a median sold price of $302,500, reflecting a notable downward price trend. This trend indicates a decrease in market value, contrasting with broader metro projections for stability. The market's recalibration suggests a shift towards a more competitive environment, albeit one that favors buyers due to cautious consumer sentiment.

Transaction activity appears to be moderate, with median days on market reaching 217 days, indicating slower sales velocity. The elevated inventory levels relative to sales activity may suggest that sellers are adjusting expectations in response to the current market dynamics, as the median listing price stands at $327,500, creating a significant pricing gap that could impact buyer interest.

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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

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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 the Phoenix AZ market average 6.6% compared to the 2026 forecast average of 6.18%, indicating property owners locked in a relatively favorable rate.

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. $302,500 is the current median sold price, reflecting a decrease in market value.

2. The median days on market of 217 days indicates a slower sales velocity in the current environment.

3. With a median listing price of $327,500, there is a notable pricing gap compared to the median sold price, suggesting potential pricing friction for sellers.

4. The market temperature is currently neutral, indicating a balanced environment despite the elevated inventory levels.

5. The median market rent is $2,716, which has shown an up trend year-over-year, indicating potential resilience in rental demand.

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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.