Phoenix, AZ 85043 Real Estate Market Report

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

---

Executive Overview

As of March 2026, the real estate market in Phoenix, AZ (ZIP: 85043) is characterized by a median sold price of $362,950, reflecting a shift in market dynamics. The neighborhood has decreased 8% since 2022, indicating a trend of declining values that may be impacting buyer sentiment and overall market activity. The median listing price stands at $399,000, suggesting a notable gap between seller expectations and actual transaction values, which could lead to pricing friction as sellers adjust to the current market conditions.

Inventory levels are currently elevated, with 285 median days on market, indicating slower sales velocity and a potential excess supply relative to sales activity. This environment is further complicated by elevated interest rate pressure, which is dampening purchasing power for many buyers. The market temperature is neutral, suggesting a balance between supply and demand, but the overall trend indicates a cautious approach from buyers as they navigate these changing conditions.

---

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

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.

---

Rental Market

---

Property Taxes

---

Liquidity & Velocity

---

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 AZ 85043 area average around 6.375% to 6.73%, which is higher than some reported 2026 averages near 5.99% to 6.15%, suggesting property owners who locked in lower 2026 rates secured a better cost.

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

---

Key Findings

1. The median sold price of $362,950 suggests a significant gap between seller expectations and market realities, contributing to pricing friction.

2. With 285 median days on market, the market is experiencing slower sales velocity, indicating a need for sellers to adjust their pricing strategies.

3. The median listing price of $399,000 reflects a potential overvaluation compared to recent sales, which may lead to increased market pressure on sellers to lower prices.

4. Elevated inventory levels suggest excess supply relative to sales activity, which could further contribute to downward pricing pressure.

5. Overall, the market temperature is neutral, indicating a balanced environment but with signs of softening due to declining prices and elevated interest rates.

---

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.