Phoenix, AZ 85022 Real Estate Market Report

ZIP Code: 85022
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.

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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

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.

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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 85022 market are 6.35%, which is 0.36% higher than the 5.99% average observed earlier in 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. The neighborhood's primary market signal is the median sold price of 475,000, which indicates a representative recent sale level and, when combined with a median days on market of 240, suggests slower sales velocity and measurable pricing friction in the market.

2. There is a notable spread between the median listing price of 599,950 and the median sold price of 475,000, which may indicate persistent seller pricing above transaction levels and pricing adjustment pressure for sellers who need to transact quickly.

3. Inventory appears to be a relatively constrained active supply in the analyzed sample, which, together with a median price per square foot of 284, suggests that properties priced in line with recent sales may still face extended marketing periods; this aligns with a neutral market temperature overall.

4. Macro and rental signals add caution: year-over-year, prices are up while rents are down, and there is elevated interest rate pressure (local 30-year fixed at 6.35% versus a 5.99% earlier average), pointing to dampened buyer affordability and softer rental demand that may restrain upside in near-term sold prices.

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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.

Phoenix, AZ 85022 Real Estate Market Report

ZIP Code: 85022
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.

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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 85022 market are 6.35%, which is 0.36% higher than the 5.99% average observed earlier in 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. The primary market indicator is the median sold price of $275,000, which represents recent transaction-level value in the ZIP and—given the market temperature is described as neutral—suggests pricing is broadly balanced rather than strongly one-sided.

2. The median listing price of $247,000 is below the median sold price of $275,000, which suggests a gap between asking behavior and recent closed transactions and may indicate opportunities to verify comps and recent sales when advising sellers or buyers.

3. The median days on market of 397 points to materially slower sales velocity and extended marketing time for typical SFR/condo listings, which may require more conservative pricing strategies, targeted marketing, or concessions to reduce time to contract.

4. With median market rent of $1,650, a down rent year-over-year trend, and elevated interest rate pressure (current 30-year fixed mortgage rates at 6.35%, which is 0.36% higher than the 5.99% average earlier in 2026), investors and owner-occupiers should plan for tighter financing cost sensitivity and softer near-term rent performance.

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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.