Phoenix, AZ 85022 Real Estate Market Report

ZIP Code: 85022
Report Date: February 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 (85022) is currently $510,990, reflecting a market that has seen a slight decline in pricing trends. This price point indicates a down trend in the market, as evidenced by the overall price year-over-year trend being classified as down. The market is characterized by elevated inventory levels, leading to longer median days on market at 175 days, suggesting a slower sales velocity and a potential gap between seller expectations and buyer willingness to transact at current price points.

Despite these challenges, the local job market remains robust, providing some underlying demand support. However, elevated interest rates, currently around 5.88%, are keeping many potential buyers cautious, contributing to a more neutral market temperature. This environment may lead to homes selling below their listing prices, further indicating that buyers are exercising caution in their purchasing decisions.

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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

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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 Phoenix, AZ, around 5.88% are slightly lower than the recent market average of 6.04% seen 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 median sold price of $510,990 indicates a market that is experiencing a down trend in pricing.

2. With 175 days as the median days on market, properties are taking longer to sell, reflecting slower sales velocity.

3. The market temperature is currently neutral, suggesting a balance between buyer and seller activity.

4. Elevated inventory levels are present, leading to excess supply relative to sales activity in the market.

5. The median market rent of $2,580 is up, indicating a potential opportunity for rental investments despite the overall market challenges.

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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.