Phoenix, AZ 85044 Real Estate Market Report

ZIP Code: 85044
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.

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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

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.

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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.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Phoenix, AZ are approximately 6.4% compared to the 6.0% average observed 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 primary indicator of market value is the $467,000 median sold price, which points to modest price appreciation and serves as the best representation of recent transaction activity in the ZIP code.

2. There is a notable pricing gap between the $410,000 median listing price and the $467,000 median sold price, which may indicate seller expectation mismatches or selective buyer purchasing of higher-priced closed transactions; exercise caution when pricing new listings to reflect realized sale outcomes.

3. Liquidity appears muted based on the 218 median days on market, which suggests slower sales velocity relative to faster-moving markets and may require longer marketing windows or more competitive pricing strategies.

4. Market context shows prices trending up while rents are trending down; specifically, rent pressures are easing with a $1,548 median market rent and rent year-over-year trend down, and interest rate pressure is reported as moderate with current 30-year fixed mortgage rates near 6.4% versus an earlier 6.0% average—factors that may constrain investor demand and favor more conservative underwriting.

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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.

Phoenix, AZ 85044 Real Estate Market Report

ZIP Code: 85044
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.

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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

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.

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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 Phoenix, AZ are approximately 6.4% compared to the 6.0% average observed 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 primary indicator of market value is the median sold price: 259,450, which represents the most recent representative transaction level and suggests modest appreciation when read alongside the upward price year-over-year trend; this price point appears to anchor seller expectations and buyer valuations.

2. Liquidity appears slow: the median days on market: 1,057 points to extended marketing times and slower sales velocity, which may indicate pricing friction or a mismatch between seller expectations and active buyer demand.

3. Supply context in the analyzed sample suggests a relatively constrained active supply (sample-based), which, combined with a neutral market temperature, implies balanced to slightly seller-leaning conditions rather than a clear market push in either direction. Use conservative pricing strategies to avoid extended time on market.

4. Rental and financing context is mixed: the median market rent: 1,245 is trending down year-over-year (down), and interest rate pressure is moderate with Current 30-year fixed mortgage rates in Phoenix, AZ approximately 6.4% compared to the 6.0% average observed earlier in 2026; together these signals suggest weakening rental income prospects and continued buyer sensitivity to financing costs.

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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.