Phoenix, AZ 85033 Real Estate Market Report

ZIP Code: 85033
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 (85033) is showing signs of cooling, with the median sold price recorded at $330,000. This reflects a down trend in pricing, indicating a shift in market dynamics. The median days on market has significantly increased to 190 days, suggesting a slower sales velocity and potentially elevated inventory levels relative to transaction activity. This environment may indicate that buyers are exercising more caution, leading to a more balanced market compared to previous periods.

The median listing price stands at $350,000, creating a notable gap between asking and sold prices. This discrepancy may reflect seller expectations that are not aligning with current market realities. The rental market is also experiencing downward pressure, with the median market rent at $2,716, which is also down year-over-year. The overall market temperature is classified as neutral, indicating a balance between supply and demand, albeit with signs of softening in both sales and rental prices.

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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 85033 average around 5.88% compared to the 2026 origination average of 6.66% (midpoint of 6.6% and 6.84% refinance rate).

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 $330,000 indicates a down trend in home values, reflecting a cooling market.

2. With 190 days as the median days on market, properties are experiencing slower sales velocity, suggesting elevated inventory levels relative to sales.

3. The median listing price of $350,000 creates a significant gap compared to the sold price, indicating potential pricing friction in the market.

4. The median market rent of $2,716 is also down, reflecting oversupply in the rental market despite ongoing demand.

5. The overall market temperature is neutral, suggesting a balanced market but with signs of softening in pricing and sales activity.

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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.