Phoenix, AZ 85014 Real Estate Market Report

ZIP Code: 85014
Report Date: February 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

As of February 2026, the median sold price in Phoenix, AZ (ZIP: 85014) stands at $544,499.50, reflecting a market that has shown signs of adjustment, particularly with a year-over-year price trend that is down. The current market conditions suggest a neutral temperature, characterized by elevated inventory levels and longer selling times, with homes averaging 256 days on the market. This extended duration may indicate a shift in buyer sentiment and a need for sellers to recalibrate their expectations in light of the current economic landscape.

The relationship between the median listing price of $650,000 and the median sold price reveals a significant pricing gap, which could suggest potential pricing friction as sellers navigate the realities of a market that is currently favoring buyers due to increased supply. The local economy remains robust, yet the housing market is experiencing a pause, with moderate transaction volumes and a notable increase in inventory levels. This scenario may lead to further adjustments in pricing as the market seeks equilibrium.

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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 85014 average around 5.88% compared to recent lows near 5.63% seen earlier in 2026, suggesting a slight rate increase for new loans.

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 median sold price is $544,499.50, indicating a potential need for sellers to adjust expectations due to market conditions.

2. Homes are taking an average of 256 days on the market, reflecting slower sales velocity and a possible shift in buyer sentiment.

3. The median listing price of $650,000 shows a significant gap compared to the median sold price, suggesting pricing friction in the market.

4. The market temperature is currently neutral, indicating balanced conditions despite elevated inventory levels.

5. Rental prices are under pressure, with a median market rent of $2,450, which may influence buyer decisions in the housing market.

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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.