Phoenix, AZ 85017 Real Estate Market Report
ZIP Code: 85017
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.
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
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.
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
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 for properties in Phoenix AZ 85017 are averaging 6.3%, reflecting a stable market environment compared to earlier 2026 benchmarks.
Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.
Key Findings
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The neighborhood's primary market value indicator, the median sold price, is 319,950, and recent price momentum is up, suggesting modest appreciation relative to listing expectations where the median listing price is 300,000 and may indicate seller pricing remains aggressive relative to closed transactions.
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Liquidity appears constrained by slower sales velocity: the median days on market is 352, which often signals slower transaction volume and pricing friction rather than rapid turnover.
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Market balance shows a neutral temperature: the market temperature is neutral, consistent with a balanced environment where neither side clearly dominates and which may support steady, measured negotiation cycles (neutral).
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Rental and financing context is mixed—median market rent is 1,009 while rent year-over-year trend is down, and financing conditions show average 30-year fixed rates near 6.3% with interest rate pressure rated as moderate, which together suggest cooling rental income prospects amid moderate borrowing headwinds (moderate).
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.
Recent Transactions
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Sold at market average
Sold above market average
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Sold below market average
Sold below market average
Phoenix, AZ 85017 Real Estate Market Report
ZIP Code: 85017
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.
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
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.
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
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 for properties in Phoenix AZ 85017 are averaging 6.3%, reflecting a stable market environment compared to earlier 2026 benchmarks.
Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.
Key Findings
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The neighborhood's primary market indicator, the median sold price is $181,000, which reflects recent transaction activity and aligns with a up price year-over-year trend, suggesting modest appreciation.
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The median listing price is $179,000 compared to the median sold price is $181,000, indicating a narrow listing-to-sale gap that may reflect realistic seller pricing and limited pricing friction in completed transactions.
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The median days on market is 361, which signals slower sales velocity and suggests buyers are taking longer to execute purchases despite modest price appreciation in the area.
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Sampled inventory conditions show a relatively constrained active supply versus recent sales, and combined with moderate interest rate pressure and a current 30-year fixed mortgage rate averaging 6.3%, liquidity appears steady but sensitive to interest-rate movements.
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Rental indicators are soft: the median market rent is $895 while rent year-over-year trend is down, which may reduce near-term investor rental yield expectations and temper investor demand.
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.
Recent Transactions
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Sold at market average
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Sold below market average
Sold below market average
Sold below market average
Sold below market average
Investment Analysis
Compare rental income potential against ownership costs and benchmark against market averages.
Monthly rental income vs estimated ownership cost
20% down, 6.3% rate, 0.3% tax
Avg nightly rate and occupancy for this ZIP
Data Sources
Real estate market data & public records, and GemHaus® proprietary models.
Report generated: 5/1/2026
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