Phoenix, AZ 85041 Real Estate Market Report

ZIP Code: 85041
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.

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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.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Phoenix, AZ, are averaging approximately 6.35% as of May 2026, reflecting the prevailing market conditions for property owners in this area.

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. median sold price $370,000 remains the primary indicator of market value and recent transaction activity for the ZIP; down price momentum (price year-over-year trend: down) suggests recent sales are occurring at lower levels than a year ago, which may indicate softening realized pricing with only medium-high confidence in the trend.

2. There is a meaningful spread between median listing price $420,000 and median sold price $370,000, which appears to signal pricing friction between seller expectations and recent transaction levels; pricing friction may prolong negotiations and contribute to slower closings unless sellers adjust asks to align with recent sold prices.

3. median days on market 231 points to slower sales velocity and extended marketing timelines versus typical seasonal cycles; slower sales velocity suggests brokers and sellers should plan for longer marketing windows and consider targeted price or concession strategies to accelerate closings.

4. Market structure shows relatively constrained active supply in the analyzed sample alongside a neutral market temperature, while interest rate pressure elevated (current 30-year fixed mortgage rates averaging approximately 6.35%) and median market rent $2,040 with rent year-over-year trend down together suggest cautious demand conditions; neutral market temperature indicates a balanced market stance but elevated rates and falling rents may keep buyer urgency muted.

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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.

Phoenix, AZ 85041 Real Estate Market Report

ZIP Code: 85041
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.

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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.

Liquidity metrics unavailable due to insufficient data quality.

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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, are averaging approximately 6.35% as of May 2026, reflecting the prevailing market conditions for property owners in this area.

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 is the primary indicator of market value and recent transaction activity; paired with a median price per square foot: 217, this suggests buyers and appraisers should anchor valuations to realized sale metrics rather than listing expectations, particularly given the sample indicates relatively constrained active supply in recent transactions.

2. Recent pricing momentum is softening: year-over-year price movement is down, and this aligns with a median market rent: 2,040 that is also showing a down trend; sellers should expect pricing pressure relative to prior periods, while investors should re-check rent assumptions against the stated median market rent.

3. Liquidity appears measured rather than rapid—market temperature is neutral, which suggests a balanced negotiation environment where properly priced homes can transact but sellers may need to be amenable to concessions; the sample's supply signal of relatively constrained active supply may support selective pricing resilience.

4. Financing and carrying-cost dynamics are a headwind: interest rate pressure is elevated and current local 30-year fixed mortgage rates are approximately 6.35%, which may reduce buyer purchasing power and extend time-to-contract; price positioning and flexible terms are actionable levers for sellers to maintain competitiveness.

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Notable Properties

The following 4 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.