Phoenix, AZ 85021 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 primary market value indicator is the $354,500 median sold price, which suggests recent transaction levels are concentrated well below the $517,450 median listing price and may indicate pricing friction between seller expectations and closed deals.
2. The market shows slower sales velocity with a median days on market of 425, which may indicate longer listing periods and more time for negotiation before transactions complete.
3. Price momentum is down year-over-year while market temperature is neutral, suggesting a broadly balanced market that nevertheless faces downward pricing pressure and elevated interest rate pressure (local 30‑year rates around 6.6%).
4. Relative value signals: the $267 median price per square foot and $1,295 median market rent point to modest rental income levels versus sales prices, which may temper investor demand while owner-occupier activity appears to drive closed transactions.

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.