Phoenix, AZ 85033 Real Estate Market Report

ZIP Code: 85033
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.

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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 the Phoenix 85033 market average 6.35%, which is 0.31% lower than the 6.66% average rate observed earlier in 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 neighborhood's primary indicator, 320,000, as the median sold price, confirms recent transaction values are materially below asking levels (median listing price 349,900) and, combined with a long median days on market of 251, suggests down price momentum and slower sales velocity.

2. Median price per square foot is 225, which together with the 320,000 median sold price indicates pricing friction versus seller expectations and appears to reflect moderate market balance rather than a sharp supply squeeze; reported sample conditions show relatively constrained active supply in the analyzed dataset.

3. Rental metrics show a median market rent of 1,372 and a rent year-over-year trend of down, implying weakening rental income support for investor demand while the property rate comparison notes mortgage rates averaging 6.35% in this market—consistent with elevated interest rate pressure.

4. Overall market signals combine a median sold price of 320,000, long median days on market (251), and a price year-over-year trend of down, which together suggest slower liquidity and pricing pressure; given the market temperature is reported as neutral, expect a measured negotiation environment rather than a one-sided 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.

Phoenix, AZ 85033 Real Estate Market Report

ZIP Code: 85033
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.

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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

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

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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 85033 market average 6.35%, which is 0.31% lower than the 6.66% average rate observed earlier in 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 primary indicator, median sold price, is $189,889, which represents recent transaction-level market value and aligns with observed softening since the price year-over-year trend is down.

2. Sellers’ asking levels at $215,000 versus the representative recent sale at $189,889 suggest pricing friction between expectations and closed transactions and may indicate that some listings are priced above what buyers are transacting for.

3. Market liquidity is slow as indicated by a median days on market of 347, which suggests slower sales velocity and extended time-to-close while the overall market temperature remains neutral.

4. Financial and rental headwinds are present: interest rate pressure is elevated, current 30-year fixed mortgage rates in the market average 6.35% (0.31% lower than earlier in 2026), and rents are cooling with median market rent 950 and a rent year-over-year trend that is down.

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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.