Phoenix, AZ 85037 Real Estate Market Report

ZIP Code: 85037
Report Date: February 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

In Phoenix, AZ (ZIP: 85037), the median sold price stands at $412,000, reflecting the actual market transactions and indicating a robust demand despite the current market dynamics. The absence of historical sold price change data limits our ability to assess long-term trends; however, the current pricing suggests a stable market environment. The elevated inventory levels relative to sales activity may indicate a slight softening, yet the market appears to be leaning toward a seller's market due to ongoing local job growth and demand for housing.

The median days on market is 117 days, which suggests a slower sales velocity and may contribute to pricing friction as buyers take more time to make decisions. The market temperature is currently neutral, indicating a balance between supply and demand, although elevated interest rate pressure at around 6.01% could be influencing buyer behavior and overall market liquidity. As such, while there are signs of excess supply, the underlying demand remains strong, supporting the current pricing structure.

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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, around 6.01% are slightly higher than the average rate of 5.875% seen for similar loans in early 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 median sold price of $412,000 indicates strong market demand despite elevated inventory levels.

2. With 117 days on market, the sales velocity is slower, suggesting buyers are taking their time in decision-making.

3. The median listing price of $394,999.50 shows a notable gap compared to sold prices, indicating potential pricing friction for sellers.

4. The market temperature is neutral, suggesting a balance between supply and demand, yet elevated interest rate pressure may impact buyer activity.

5. The median market rent of $2,716 is rising, which may further support housing demand in the area.

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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.