Phoenix, AZ 85009 Real Estate Market Report

ZIP Code: 85009
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

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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 are 6.35% compared to approximately 6.00% for typical loans originated earlier in 2026.

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 neighborhood's median sold price is 299,000, which serves as the primary indicator of realized market value and suggests recent transactions are centered at that price point while pricing appears stable relative to asking levels.

2. With a median days on market of 347, the market shows slower sales velocity that may indicate pricing friction or longer negotiation timelines rather than acute illiquidity; this aligns with the marketTemperature being neutral and suggests a balanced environment.

3. The median listing price is 299,000 versus the median sold price of 299,000, implying limited spread between asking and transaction prices and supporting the view of relatively constrained active supply and moderate transaction volume rather than sharp seller concessions.

4. Rent and financing context are notable: median market rent is 1,395 and rentYoYTrend is down, while interestRatePressure is elevated and property rate comparison shows current 30-year fixed mortgage rates at 6.35% versus ~6.00% for earlier 2026 originations—this combination may temper buyer urgency and slow rent-driven investor 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.

Phoenix, AZ 85009 Real Estate Market Report

ZIP Code: 85009
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.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Phoenix, AZ are 6.35% compared to approximately 6.00% for typical loans originated earlier in 2026.

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 value signal is the median sold price of $118,000, which anchors recent transaction activity and suggests that closed deals are occurring well below many broader Phoenix averages; given the neutral market temperature, this median sold price appears to reflect a balanced but cautious buyer-seller dynamic in the ZIP.

2. The market shows slow liquidity: the median days on market is 379, which may indicate slower sales velocity and pricing friction that requires sellers to be patient or to adjust expectations to match recent closed transactions.

3. Price momentum is positive: the price year-over-year trend is up, supporting continued moderate appreciation around the recorded median sold price; simultaneously, rental pressure is easing—median market rent is $1,000 and the rent year-over-year trend is down—which may reduce investor demand relative to earlier periods.

4. Financing headwinds are present: interest rate pressure is elevated, and current 30-year fixed rates in Phoenix are reported at 6.35% compared to approximately 6.00% for earlier-2026 originations, which may suppress purchase power and prolong time-to-sale despite a relatively constrained active supply in the analyzed sample.

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Notable Properties

The following 6 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.