Phoenix, AZ 85035 Real Estate Market Report
ZIP Code: 85035
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.
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.
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.
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.
Property Taxes
Liquidity & Velocity
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.
Key Findings
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The neighborhood's primary market indicator, median sold price 325,000, anchors recent transaction-level value and, when read alongside a median listing price of 317,500, suggests sellers have achieved sale prices modestly above asking in the most recent closed transactions (representative recent sale).
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Although the overall market temperature is neutral, the price year-over-year trend is down, signaling localized softening even as median sold price 325,000 provides the clearest view of realized market value.
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Market liquidity appears muted given a median days on market of 325, which suggests slower sales velocity and potential pricing friction that may require sellers to adjust expectations or to employ targeted marketing to reach active buyers.
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Rental conditions are cooling—rent year-over-year trend is down while median market rent is 1,275—and with interest rate pressure labeled elevated, underwriters and investors should plan for longer absorption timelines and more conservative cash-flow assumptions.
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.
Recent Transactions
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Sold at market average
Sold above market average
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Below-market acquisition. Investor purchase with value-add potential through renovation.
Sold below market average
Phoenix, AZ 85035 Real Estate Market Report
ZIP Code: 85035
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.
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.
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.
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.
Property Taxes
Liquidity & Velocity
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.
Key Findings
-
The primary indicator of market value and recent transactions is the median sold price $335,000, which anchors local pricing and suggests recent transaction-level value in the 85035 market.
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The median days on market 628 points to materially slower sales velocity and suggests pricing friction or buyer selectivity despite a neutral market temperature.
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Listing and sale dynamics show a gap where the median listing price $345,000 sits above the median sold price, which may indicate that seller expectations are higher than recent transaction levels and could prolong time-to-contract under current conditions.
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Macro pressures include elevated interest rate pressure and a down price year-over-year trend, alongside a down rent year-over-year trend; combined with the sample’s relatively constrained active supply, this suggests cautious buyer behavior and limited upward price momentum.
Notable Properties
The following 7 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.
Recent Transactions
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Sold below market average
Sold below market average
Sold below market average
Sold below market average
Investment Analysis
Compare rental income potential against ownership costs and benchmark against market averages.
Monthly rental income vs estimated ownership cost
20% down, 6.5% rate, 0.4% tax
Avg nightly rate and occupancy for this ZIP
Data Sources
Real estate market data & public records, and GemHaus® proprietary models.
Report generated: 5/1/2026
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