Phoenix, AZ 85043 Real Estate Market Report

ZIP Code: 85043
Report Date: February 2026
Market Temperature: COLD
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

As of February 2026, the real estate market in Phoenix, AZ (ZIP: 85043) is characterized by a median sold price of $359,999, reflecting a downward trend in property values. This indicates a decrease in market activity compared to previous periods, suggesting that the neighborhood has decreased 8% since 2022. The median listing price stands at $399,900, which highlights a notable gap between seller expectations and actual transaction values, potentially creating pricing friction for prospective buyers.

The market is currently experiencing elevated inventory levels, with median days on market reaching 229 days, signaling slower sales velocity and a cooling market temperature. While mortgage rates have moderated to an average of around 5.8% to 6.1%, this has not significantly spurred buyer activity, as the overall market remains cold. The rental market also reflects a similar trend, with a median market rent of $2,560, indicating a renter-friendly environment due to oversupply from new construction. Overall, buyer caution persists amid these conditions, contributing to a more measured approach to home purchases.

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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

Understanding Market Temperature

A Cold market indicates weak buyer demand relative to available inventory, typically characterized by declining or flat prices, extended days on market, and elevated inventory levels relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in the Phoenix AZ 85043 area average around 5.8% to 6.1%, which is notably lower than the 6.7% average rate seen earlier in 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 is $359,999, indicating a decrease in property values over the past year.

2. With a median listing price of $399,900, there is a significant gap between asking and selling prices, suggesting potential pricing friction for sellers.

3. The median days on market of 229 days reflects a slower sales velocity and indicates that properties are taking longer to sell.

4. The market temperature is currently cold, suggesting a lack of urgency among buyers and a more cautious approach to purchasing.

5. The median market rent of $2,560 highlights a renter-friendly environment, driven by oversupply from new construction.

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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.