Phoenix, AZ 85035 Real Estate Market Report

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

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

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

Key Findings

1. The primary market value indicator is the median sold price of 291,000, which represents recent transaction activity and suggests pricing is anchoring below asking expectations in some segments; balanced-to-softening price pressure appears consistent with the broader down price year-over-year trend.
2. There is a meaningful spread between the median listing price of 311,500 and the median sold price of 291,000, which may indicate pricing friction and seller concessions as buyers exercise greater leverage; down rent year-over-year trend and elevated interest rate pressure reinforce longer negotiation cycles.
3. Sales velocity is slow relative to historical norms as evidenced by the median days on market of 356, which suggests slower transaction volume and could prolong time-to-contract for SFR and condominium sellers; this aligns with the market temperature being described as neutral.
4. Market fundamentals point to weaker near-term rental demand and pricing pressure for landlords given the median market rent of 1,295 combined with a down rent year-over-year trend and elevated interest rate pressure, which may reduce investor appetite without rent growth recovery.

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.