Phoenix, AZ 85017 Real Estate Market Report

ZIP Code: 85017
Report Date: April 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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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 averaging 6.51% compared to the historical average of 7.70% between April 1971 and February 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. $315,000 median sold price signals a market where recent transactions are below asking expectations, suggesting down pressure on realized values and room for buyer negotiation.

2. $357,000 median listing price versus the median sold price indicates a pricing gap that may require sellers to adjust offers to achieve timely closings, reflecting moderate pricing friction.

3. 343 days median days on market evidences slower sales velocity and extended listing periods, which may increase holding costs and favor more patient buyers.

4. Median price per square foot of 208.94648829431438 combined with a $2,716 median market rent provides context for unit-level valuation comparisons when underwriting, while acknowledging rent trends are currently down.

5. Market-level indicators—neutral market temperature and elevated interest rate pressure—suggest a balanced but cautious environment where pricing moves may be incremental rather than rapid.

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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.