Phoenix, AZ 85024 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

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

Key Findings

1. The primary indicator of market value is the median sold price $541,000, which represents the most reliable signal of recent transaction activity and, combined with a median days on market of 75, suggests a market with slower sales velocity and more time for negotiation.
2. The neighborhood shows a median listing price of $528,900 versus the median sold price of $541,000, which suggests some transactions are closing at or above typical asking levels rather than well below; sellers should be aware of the relationship between asking and realized prices when setting expectations.
3. Market liquidity and temperature are constrained: the reported market temperature is cold, and median days on market of 75 indicates longer time-to-contract; combined, these factors may require sellers to provide concessions or more aggressive pricing to maintain pace.
4. Financing and broader demand context is a headwind: interest rate pressure is described as elevated, with current 30-year fixed mortgage rates averaging approximately 6.9% as of August 2026, while rent and price trends are both reported as flat; investors and owner-occupiers should factor higher borrowing costs into underwriting and offer strategies.

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.