Phoenix, AZ 85029 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 neighborhood's primary market value is represented by the median sold price 361,500, which should be treated as the most reliable indicator of recent transaction levels versus asking prices; the median listing price is 349,900, indicating a measurable gap between asking and realized sale levels. neutral
2. The market exhibits slower sales velocity as shown by the median days on market 333, which may indicate pricing friction or longer negotiation cycles rather than immediate buyer competition. down
3. Inventory conditions appear to reflect relatively constrained active supply in the analyzed sample while transaction activity is moderate, consistent with a market temperature described as neutral that is moving toward balance. neutral
4. Financing and cost-of-capital pressures are a material headwind: current 30-year fixed mortgage rates average 6.63% as of June 2026, and interest rate pressure is characterized as elevated; concurrently, both price and rent year-over-year trends are reported as down, suggesting caution for near-term appreciation expectations. elevated

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.