Phoenix, AZ 85041 Real Estate Market Report

ZIP Code: 85041
Report Date: April 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

As of April 2026, the real estate market in Phoenix, AZ (ZIP: 85041) reflects a median sold price of $370,000, indicating a stable yet slightly downward trend in certain areas. The neighborhood has decreased 8% since 2022, suggesting a shift in market dynamics that may be influenced by elevated inventory levels and moderate sales activity. The median listing price stands at $425,000, which creates a notable pricing gap that could signal seller expectations misaligned with current market realities.

Transaction activity appears to be moderate, with median days on market recorded at 194 days. This extended duration indicates slower sales velocity, potentially due to excess supply relative to sales activity. The market temperature is currently assessed as neutral, suggesting a balanced environment where buyers and sellers may find common ground, though the overall liquidity may be affected by the current pricing dynamics and elevated inventory levels.

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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

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.

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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.

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Key Findings

1. The median sold price of $370,000 indicates a potential decrease in market value compared to previous years.

2. With a median listing price of $425,000, there exists a significant pricing gap that may create pricing friction in negotiations.

3. The median days on market of 194 days suggests a slower sales velocity in the current market, impacting liquidity.

4. The market temperature is deemed neutral, reflecting a balanced environment for buyers and sellers alike.

5. Despite a strong rental demand, the median market rent of $2,716 shows a downward trend year-over-year, indicating potential oversupply in rental properties.

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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.