Phoenix, AZ 85033 Real Estate Market Report

ZIP Code: 85033
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 real estate market in Phoenix, AZ (ZIP: 85033) shows a median sold price of $320,000, reflecting a notable shift in market dynamics. The neighborhood has decreased 8% since 2022, indicating a trend of declining values that may influence buyer sentiment and seller expectations. The median listing price stands at $350,000, creating a $30,000 gap between asking and selling prices, which suggests potential pricing friction in the current market environment.

Transaction activity appears moderate, with median days on market reaching 249 days, indicating slower sales velocity and a potential oversupply of properties. This is further evidenced by elevated inventory levels, which may give buyers modest leverage in negotiations. Overall, the market temperature is characterized as neutral, reflecting a balance between supply and demand, albeit with signs of softening in both pricing and rental rates due to increased inventory and new supply.

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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 market average around 6.49% compared to 6.82% one year ago, suggesting a slight cost opportunity for new financing.

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 $320,000 indicates a significant 8% decrease since 2022, suggesting a softening market.

2. With a median listing price of $350,000, there is a $30,000 gap between asking and selling prices, indicating potential pricing friction.

3. The median days on market of 249 days reflects slower sales velocity, which may deter some sellers from entering the market.

4. Elevated inventory levels suggest excess supply relative to sales activity, potentially benefiting buyers in negotiations.

5. The median market rent of $2,716 has also softened, indicating a broader trend of declining rental rates in the area.

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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.