Phoenix, AZ 85017 Real Estate Market Report

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

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

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.

Market Trends & Context

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

Key Findings

1. The neighborhood's primary market indicator, $284,000 median sold price, signals the representative recent sale level and underpins current valuation in ZIP 85017; price pressure is evident given the year-over-year price trend of down (HIGH/MEDIUM confidence).
2. There is a material gap between $339,990 median listing price and the median sold price, which suggests seller expectations exceed transaction realizations and pricing friction may persist until listings align with recent sale levels.
3. The median days on market of 392 points to notably slower sales velocity and extended marketing timelines, which may indicate reduced liquidity even as the market temperature remains neutral; practitioners should treat time-to-contract as a key negotiation lever.
4. Elevated interest rate pressure is present—current local 30-year fixed mortgage rates average 6.63%—concurrently with a $950 median market rent and rent year-over-year trend down; this combination suggests caution for investors relying on near-term rent growth or financing tailwinds.

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.