Phoenix, AZ 85041 Real Estate Market Report

ZIP Code: 85041
Report Date: February 2026
Market Temperature: N/A
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The real estate market in Phoenix, AZ (ZIP: 85041) reflects a median sold price of $380,000, indicating a significant level of transaction activity in the area. This price serves as a crucial indicator of market value, showcasing the actual sales that have occurred rather than merely listing prices. The median listing price stands at $418,950, suggesting a notable gap between seller expectations and market realities, which may create pricing friction for potential buyers.

Current market conditions show 167 median days on market, indicating a slower sales velocity and potentially a cooling trend in buyer demand. The elevated inventory levels relative to sales activity suggest a market that may be experiencing excess supply, as the number of active listings exceeds the number of sold properties in the analyzed sample. This dynamic may lead to increased negotiation power for buyers as they navigate a market characterized by moderate transaction volume and longer selling periods.

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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

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in the Phoenix market average around 5.88% to 6.6%, which is slightly higher than the 5.625% rate seen in early February 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 $380,000 indicates a strong market value despite the $418,950 median listing price, highlighting potential pricing friction.

2. With 167 median days on market, the market is experiencing a slower sales velocity, which may suggest declining buyer urgency.

3. Elevated inventory levels relative to sales activity indicate excess supply, potentially leading to more favorable conditions for buyers.

4. The median market rent is $2,716, reflecting a robust rental market that may attract investors despite current sales dynamics.

5. The property tax rate stands at 0.44%, which is relatively moderate and may contribute to overall affordability in the market.

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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.