Phoenix, AZ 85032 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 market signal is the median sold price of 469,000, which indicates realized market value for recent transactions and suggests that pricing is tracking modestly below asking levels given the median listing price of 494,000; stable price discovery appears to be occurring.
2. The market shows a long selling cadence with median days on market of 239, which points to slower sales velocity and suggests buyers are taking more time to transact despite price stability.
3. Pricing context is balanced: the median price per square foot of 281 combined with a price year-over-year trend that is flat supports the characterization of a market moving toward equilibrium rather than rapid appreciation or decline; neutral market temperature aligns with this.
4. Liquidity and cost-of-capital factors are mixed—rental pressure is soft with median market rent of 1,564 and a rent year-over-year trend that is down, while financing remains a tangible headwind with current 30-year fixed mortgage rates averaging 6.6% and overall moderate interest rate pressure, which may temper buyer urgency and investment appetite.

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.