Phoenix, AZ 85015 Real Estate Market Report

ZIP Code: 85015
Report Date: June 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

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.

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Key Findings

1. The primary indicator of market value is the median sold price of 297,000, which anchors recent transaction activity and suggests realized market value is materially below asking levels in the sample dataset.

2. There is noticeable pricing friction between the median listing price of 448,450 and the median sold price, which may indicate persistent seller expectations above what buyers are paying and downward pressure on offers.

3. Market liquidity is slow as reflected by the long median days on market of 307, which suggests slower sales velocity and increased time required to convert listings into closed transactions.

4. Rent and pricing trends are soft: the median market rent is 1,195 with a down rent year-over-year trend, and broader price direction is also down, while market temperature remains neutral and interest rate pressure is elevated, signaling caution for levered buyers and investors.

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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 85015 Real Estate Market Report

ZIP Code: 85015
Report Date: June 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

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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.

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Key Findings

1. The primary market value indicator is $179,900 as the median sold price, which represents the most reliable signal of recent transaction activity and suggests realized pricing is below asking levels in the sample. neutral market temperature supports treating recent sales as the best evidence of value rather than listing ambitions.

2. The 1,130 median days on market points to materially slower sales velocity and longer listing-to-sale timelines, which may indicate pricing friction and that sellers should expect extended marketing periods before achieving a representative recent sale. down price year-over-year trend corroborates softer realized prices.

3. The $189,900 median listing price shows seller expectations are higher than recent transactions, creating a visible gap between asking and achieved prices that may require price adjustments or concessions to reaccelerate movement. pricing friction appears present between listing asks and closed sales.

4. The $1,149 median market rent and 175 median price per square foot indicate valuation and rent levels that are under modest downward pressure; combined with elevated interest rate pressure and a down rent year-over-year trend, investors should be cautious on near-term yield assumptions and stress-test financing scenarios.

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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.