Phoenix, AZ 85044 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

Key Findings

1. The primary indicator of current market value and recent transaction activity is the median sold price 472,000, which suggests recent sales are anchoring value below asking expectations given the median listing price 399,900 and may indicate pricing friction between sellers and buyers.
2. Despite the median listing price context, the market shows slow transaction velocity as indicated by the median days on market 441, which appears to reflect slower sales velocity and longer holding periods for sellers rather than rapid turnover.
3. The median price per square foot 258 supports a mid-range valuation band for SFR and condo product in the area; combined with a median market rent 1,542 and a down rent year-over-year trend, rental income upside looks muted in the near term.
4. Macro and market signals create a cautious backdrop: overall price momentum is down year-over-year, market temperature reads neutral, and interest rate pressure is elevated — together these suggest buyers may have negotiating leverage and sellers should expect meaningful price and term sensitivity.

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.