Phoenix, AZ 85022 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

Market Trends & Context

Key Findings

1. $499,000 is the median sold price and represents the most reliable indicator of recent transaction value in ZIP 85022; this level, combined with a median days on market of 277, suggests slower sales velocity and pricing friction between seller expectations and closed transactions.
2. The median listing price of $540,000 sits noticeably above the median sold price, which may indicate ongoing seller markup or downward adjustment pressure as the market stabilizes; given the neutral market temperature, this gap appears to be resolving through longer marketing times rather than rapid price corrections.
3. With a median price per square foot of 270 and a median market rent of 1,395, rent and price momentum are both moving down, suggesting rental weakness is contributing to softer buyer willingness to pay at previous price points.
4. Interest rate dynamics are an important headwind: elevated interest rate pressure combined with the observed inventory relationship appears to be moderating transaction volume and maintaining a balanced market rather than a strong seller environment; expect continued cautious pricing and selective buyer activity in the near term.

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.