Phoenix, AZ 85032 Real Estate Market Report

ZIP Code: 85032
Report Date: February 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

As of February 2026, the real estate market in Phoenix, AZ (ZIP: 85032) is characterized by a median sold price of $499,950, reflecting a cautious buyer sentiment amid rising inventory levels. The neighborhood has decreased 8% since 2022, indicating a significant shift in market dynamics. With 123 days on market, properties are taking longer to sell, suggesting a slower sales velocity and potential pricing friction as buyers navigate elevated interest rates and affordability challenges.

The market temperature is currently neutral, indicating a balance between supply and demand, though the presence of elevated inventory levels suggests that sellers may need to adjust expectations to align with buyer sentiment. The median listing price stands at $549,494.50, creating a notable gap between asking and sold prices, which may further contribute to the cautious approach observed among potential buyers. Overall, the market appears to be in a transitional phase, favoring buyers as they weigh options in a landscape of declining values and increasing days on market.

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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 Phoenix AZ are around 5.875% compared to the 2026 historical average of 6.65% (calculated as 5.875% + 0.78% difference from search result 7).

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 $499,950 indicates a significant gap from the median listing price of $549,494.50, suggesting potential pricing adjustments may be necessary.

2. With 123 days on market, the sales velocity is slower, reflecting a cautious buyer sentiment and extended property holding periods.

3. The market temperature is neutral, indicating a balance between supply and demand, yet elevated inventory levels suggest excess supply relative to sales activity.

4. Year-over-year trends show that home values are down, which may influence buyer expectations and negotiation strategies.

5. The median market rent of $2,716 has also decreased, reflecting broader market conditions and potentially impacting rental demand.

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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.