Phoenix, AZ 85044 Real Estate Market Report

ZIP Code: 85044
Report Date: April 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The housing market in Phoenix, AZ (85044) is currently characterized by a median sold price of $482,000, reflecting a stabilization trend as the market transitions towards a more balanced state. Although there is no historical sold price change percentage available, the current market conditions suggest a down trend in prices year-over-year, indicating potential pricing friction for sellers. The median listing price stands at $419,999, which highlights a notable gap between asking and sold prices, suggesting that seller expectations may not align with current buyer sentiment.

Transaction activity appears moderate, with 205 median days on market, indicating slower sales velocity. The elevated inventory levels relative to sales activity suggest an excess supply, which may further pressure prices. Additionally, the median market rent is recorded at $2,850, which has also seen a down trend year-over-year, indicating a renter-friendly environment that could influence buyer demand in the housing market.

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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.

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Key Findings

1. The median sold price of $482,000 indicates a potential pricing gap with the median listing price of $419,999, suggesting pricing friction for sellers.

2. Transaction velocity is relatively slow, with 205 median days on market, reflecting slower sales activity in the area.

3. The market is experiencing elevated inventory levels, which may lead to excess supply relative to sales activity.

4. The median market rent of $2,850 has decreased year-over-year, contributing to a renter-friendly environment that could affect buyer demand.

5. Overall market conditions are classified as neutral, with no significant pressure favoring either buyers or sellers.

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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.