Phoenix, AZ 85042 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

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

Key Findings

1. The neighborhood's median sold price is $375,500, which should be treated as the primary indicator of recent market value and transaction activity, and the gap versus the median listing price of $487,500 suggests observable pricing friction and increased negotiation scope for buyers (balanced but with seller premium).
2. Liquidity appears slow by velocity metrics: the median days on market is 360, which indicates longer time-to-contract and, combined with a relatively constrained active supply in the analyzed sample, may indicate slower sales velocity and more time for buyers to negotiate (slower transaction velocity).
3. Market direction shows price momentum but a neutral market backdrop: the price year-over-year trend is up while the market temperature is neutral, implying modest appreciation without aggressive competition and a balanced buyer-seller dynamic (up / neutral).
4. Rental and financing headwinds create caution for investors: the median market rent is $1,845 and the rent year-over-year trend is down, while interest rate pressure is elevated with current 30-year fixed rates averaging approximately 6.6% in Phoenix, which together may compress near-term cash-flow and reduce investor yield sensitivity (down / elevated).

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.