Phoenix, AZ 85032 Real Estate Market Report

ZIP Code: 85032
Report Date: April 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 (ZIP: 85032) stands at $495,000, reflecting a stable market environment with prices remaining flat. This stability suggests that the market is adjusting to current economic conditions without significant fluctuations in home values. The market appears to be experiencing longer selling times, with a median of 162 days on market, indicating a slower sales velocity and a potential shift towards a more balanced market as buyers have more options available.

Inventory levels are elevated, contributing to the neutral market temperature observed. This excess supply relative to sales activity may indicate a buyer's advantage, as sellers may need to adjust expectations to attract buyers. Additionally, the median market rent is reported at $2,386, which, while still strong, is showing signs of moderation, suggesting that rental demand remains robust but is stabilizing in response to broader market trends.

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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

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.

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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 are averaging 6.25%, which is 0.6% higher than the average rates of 5.65% seen in early 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 $495,000 indicates a stable market, with no significant price increases or decreases recently.

2. With 162 days on market, properties are experiencing slower sales velocity, suggesting potential pricing friction for sellers.

3. Elevated inventory levels may indicate excess supply relative to sales activity, providing buyers with more options.

4. The median market rent of $2,386 is moderating, which suggests a stabilization in rental demand.

5. Current mortgage rates at 6.25% are 0.6% higher than earlier in the year, contributing to moderate interest rate pressure on the market.

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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.