Phoenix, AZ 85027 Real Estate Market Report

ZIP Code: 85027
Report Date: March 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

As of March 2026, the median sold price in Phoenix, AZ (ZIP: 85027) stands at $395,700, reflecting a stable market despite a slight year-over-year trend indicating a decrease in prices. This suggests that the neighborhood has decreased 8% since 2022. The market is currently experiencing elevated inventory levels, which may contribute to a slower sales velocity, with homes taking a median of 251 days on market. This extended timeframe indicates a shift towards a more balanced market, where buyers may have more options and negotiating power compared to previous periods of rapid sales.

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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 the Phoenix AZ 85027 market are around 5.875% compared to typical 2026 origination rates near 6.17% (estimated average of 5.875% to 6.47%), presenting a slight refinancing opportunity for property owners.

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 $395,700 indicates a stable market despite a recent decrease in prices.

2. With a median days on market of 251, the market is experiencing slower sales velocity, suggesting that homes are taking longer to sell.

3. The median market rent is $2,560, which has shown a slight down trend year-over-year, indicating moderating rental rates.

4. Current interest rates are around 5.875%, presenting a slight refinancing opportunity for property owners compared to typical origination rates.

5. The market temperature is currently neutral, reflecting a balanced environment with no significant pressure on pricing.

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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.