Phoenix, AZ 85037 Real Estate Market Report

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

---

Executive Overview

As of April 2026, the Phoenix (85037) real estate market is characterized by a median sold price of $409,000, reflecting a slight decline in home values. This trend is consistent with the year-over-year price trajectory, which has shown a down trend. The market appears to be experiencing elevated inventory levels, contributing to a neutral market temperature, indicating a shift towards a cooling phase in the local real estate landscape.

The median days on market stands at 160 days, suggesting slower sales velocity and potentially indicating pricing friction as buyers navigate a landscape with excess supply relative to sales activity. Despite the current challenges in home sales, rental demand remains strong, although the median market rent has also seen a slight decrease to $2,716, likely due to new supply entering the market. This dynamic may stabilize as the market adjusts to the new inventory levels.

---

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

---

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

1. The median sold price of $409,000 indicates a decrease in home values, reflecting a cooling market.

2. With 160 days on market, the sales velocity is slower, suggesting pricing friction in the current environment.

3. Elevated inventory levels suggest excess supply relative to sales activity, contributing to a neutral market temperature.

4. The median market rent has decreased to $2,716, indicating potential stabilization challenges in the rental market due to new supply.

5. Overall, the market is experiencing neutral conditions, with both home prices and rents under pressure.

---

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.