Phoenix, AZ 85043 Real Estate Market Report

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

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Executive Overview

As of February 2026, the housing market in Phoenix, AZ (ZIP: 85043) is characterized by a median sold price of $365,000, reflecting a trend of price softening. The market has experienced a down trend in prices year-over-year, indicating a shift towards a more balanced environment. This decrease in sold prices, coupled with a median listing price of $399,900, suggests a significant gap between seller expectations and market reality, leading to potential pricing friction for sellers.

The market is currently facing elevated inventory levels, with median days on market reaching 224 days, which indicates slower sales velocity and a more cautious buyer sentiment influenced by elevated interest rates. Despite a fundamentally strong local job market, the combination of excess supply relative to sales activity and decreasing rental prices across the metro area suggests that buyers are exercising caution in their purchasing decisions, contributing to a neutral market temperature overall.

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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 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 the Phoenix market average around 5.88% to 6.6%, which is notably lower than the 6.87% average seen one year ago, presenting a cost opportunity for refinancing.

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 $365,000, indicating a down trend in property values.

2. With a median listing price of $399,900, there is notable pricing friction between seller expectations and market realities.

3. The median days on market of 224 days reflects slower sales velocity and may indicate weak liquidity in the market.

4. The year-over-year price trend is down, suggesting ongoing price softening in the area.

5. Elevated interest rate pressure continues to influence buyer sentiment, contributing to a neutral market temperature.

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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.