Phoenix, AZ 85022 Real Estate Market Report

ZIP Code: 85022
Report Date: March 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The median sold price in Phoenix, AZ (ZIP: 85022) is currently $479,500, reflecting a market that has seen a shift towards a more neutral balance. This price point indicates a down trend in the market, aligning with broader observations of price adjustments and longer days on market. The market has experienced a down trend in prices year-over-year, suggesting that buyers may have more negotiating power as sellers adjust their expectations to align with current market realities.

Transaction activity appears to be moderate, with 211 days on market indicating a slower sales velocity compared to previous years. Elevated inventory levels are present, which may indicate excess supply relative to sales activity, further contributing to the overall neutral market temperature. As interest rates stabilize at elevated levels, this may temper buyer enthusiasm, yet the underlying demand remains, particularly in segments like entry-level homes.

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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 the Phoenix market average around 6.375% to 6.875% as of late March 2026, which is higher than the January 2026 average of 5.95% for property owners in this area.

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. The median sold price of $479,500 reflects a market adjusting to recent price declines, indicating potential softening in buyer sentiment.

2. With 211 days on market, properties are experiencing slower sales velocity, suggesting a need for sellers to be more flexible in negotiations.

3. The median listing price stands at $619,500, creating a notable gap compared to the sold price, which may indicate pricing friction for sellers.

4. The market temperature is currently neutral, suggesting a balanced environment for both buyers and sellers amidst elevated inventory levels.

5. Year-over-year trends show a down trajectory for both prices and rents, indicating a broader market adjustment that may affect future investment strategies.

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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.