Phoenix, AZ 85037 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

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.

Market Trends & Context

Key Findings

1. The primary market signal is the median sold price of $426,500, which should be treated as the representative recent transaction value for valuation and comps; this sits alongside a broader price trajectory that is down, suggesting recent transactions are occurring in a softening price environment.
2. Listing context shows a median listing price of $375,000, which provides meaningful context about seller expectations versus completed transactions and may indicate pricing friction or repositioning of offers when compared to the representative recent sale price.
3. Liquidity appears slow based on a median days on market of 210, which suggests slower sales velocity and that properties are spending extended time to transact—a dynamic that may be amplified by the elevated interest rate pressure.
4. Rental and size pricing signals show a median market rent of 1,720 and a median price per square foot of 217, while rent trends are down; together these metrics suggest softer near-term rent demand and that investment underwriting should account for limited rent growth and cautious exit 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.