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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.

Analysis Window
90 Days
Total Properties Analyzed
134
Active Listings
35
Sold Properties
99

Market Metrics

Median Listing Price
$317,500
Median Sold Price
$325,000
Median Price per Sqft
$218/sqft

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

Median Market Rent
$1,275

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

Property Tax Rate
0.40%

Liquidity & Velocity

Median Days on Market
325
Sale-to-List Ratio
100.0%

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.

Price YoY Trend
down
Market Temperature
neutral
Rent YoY Trend
down
Interest Rate Pressure
elevated

Key Findings

  1. 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).

  2. 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.

  3. 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.

  4. 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

1831 N 74th Ln, Phoenix, AZ 85035
Top Sale

Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.

5 beds
2 baths
1,064 sqft
$419,000
Feb 1, 2026
$394/sqft/sqft
137 days on market
4430 W Vernon Ave, Phoenix, AZ 85035
Market Benchmark

Sold at market average

4 beds
3 baths
2,019 sqft
$415,000
Apr 1, 2026
$206/sqft/sqft
226 days on market
6140 W Berkeley Rd, Phoenix, AZ 85035
Premium

Sold above market average

4 beds
2 baths
1,064 sqft
$415,000
Apr 1, 2026
$390/sqft/sqft
323 days on market
7761 W Bonitos Dr, Phoenix, AZ 85035
Market Benchmark

Representative market sale establishing baseline for properties in the core neighborhood.

4 beds
3.33 baths
1,934 sqft
$325,000
Mar 1, 2026
$168/sqft/sqft
2571 days on market
5541 W Windsor Ave, Phoenix, AZ 85035
Market Benchmark

Representative market sale establishing baseline for properties in the core neighborhood.

3 beds
2 baths
1,678 sqft
$325,000
Mar 1, 2026
$194/sqft/sqft
203 days on market
2002 N 73rd Ave, Phoenix, AZ 85035
Market Benchmark

Representative market sale establishing baseline for properties in the core neighborhood.

3 beds
1 baths
1,064 sqft
$325,000
Feb 1, 2026
$305/sqft/sqft
273 days on market
1621 N 53rd Dr, Phoenix, AZ 85035
Value

Below-market acquisition. Investor purchase with value-add potential through renovation.

3 beds
2 baths
1,212 sqft
$195,000
Apr 1, 2026
$161/sqft/sqft
23 days on market
1617 N 55th Dr, Phoenix, AZ 85035
Value

Sold below market average

- beds
2 baths
1,584 sqft
$175,000
Mar 1, 2026
$110/sqft/sqft

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.

Analysis Window
90 Days
Total Properties Analyzed
104
Active Listings
5
Sold Properties
99

Market Metrics

Median Listing Price
$345,000
Median Sold Price
$335,000
Median Price per Sqft
$192/sqft

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

Median Market Rent
$1,275

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

Property Tax Rate
0.74%

Liquidity & Velocity

Median Days on Market
628
Sale-to-List Ratio
100.0%

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.

Price YoY Trend
down
Market Temperature
neutral
Rent YoY Trend
down
Interest Rate Pressure
elevated

Key Findings

  1. 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.

  2. The median days on market 628 points to materially slower sales velocity and suggests pricing friction or buyer selectivity despite a neutral market temperature.

  3. 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.

  4. 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

2534 N 73rd Dr, Phoenix, AZ 85035
Top Sale

Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.

3 beds
2.67 baths
1,848 sqft
$347,000
Apr 1, 2026
$188/sqft/sqft
394 days on market
2419 N 73rd Ln, Phoenix, AZ 85035
Market Benchmark

Representative market sale establishing baseline for properties in the core neighborhood.

3 beds
2.67 baths
1,783 sqft
$335,000
Mar 1, 2026
$188/sqft/sqft
88 days on market
2668 N 73rd Gln, Phoenix, AZ 85035
Market Benchmark

Representative market sale establishing baseline for properties in the core neighborhood.

3 beds
2.67 baths
1,848 sqft
$330,000
Jan 1, 2026
$179/sqft/sqft
204 days on market
2739 N 73rd Dr, Phoenix, AZ 85035
Value

Sold below market average

- beds
2.67 baths
1,675 sqft
$280,100
Mar 1, 2026
$167/sqft/sqft
2739 N 73rd Dr, Phoenix, AZ 85035
Value

Sold below market average

- beds
2.67 baths
1,675 sqft
$280,100
Mar 1, 2026
$167/sqft/sqft
2846 N 46th Ave Apt 7, Phoenix, AZ 85035
Value

Sold below market average

2 beds
1 baths
916 sqft
$155,000
Apr 1, 2026
$169/sqft/sqft
350 days on market
2846 N 46th Ave Apt 7, Phoenix, AZ 85035
Value

Sold below market average

2 beds
1 baths
916 sqft
$155,000
Apr 1, 2026
$169/sqft/sqft
350 days on market

Investment Analysis

Compare rental income potential against ownership costs and benchmark against market averages.

Rent vs Cost to Own

Monthly rental income vs estimated ownership cost

-$572/mo
85035 Avg Rent
85035 Cost to Own
Rent$1,275
Own$1,847

20% down, 6.5% rate, 0.4% tax

Short-Term Rental

Avg nightly rate and occupancy for this ZIP

85035 Avg nightly rate
85035 Avg occupancy (days/year)
Nightly rate$96/night
Occupancy101 of 365 days

Data Sources

Real estate market data & public records, and GemHaus® proprietary models.

Report generated: 5/1/2026

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