Phoenix, AZ 85044 Real Estate Market Report

ZIP Code: 85044
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 Phoenix, AZ (ZIP: 85044) market is characterized by a median sold price of $496,000, reflecting a modest year-over-year decline. This trend suggests a shift towards a more balanced market, as buyers gain leverage amid slightly lower demand. The median listing price stands at $469,000, indicating a notable gap between asking and selling prices, which may reflect seller expectations not aligning with current market realities.

Transaction activity appears to be moderate, with median days on market at 162, signaling slower sales velocity. Elevated inventory levels relative to sales activity indicate excess supply, which may contribute to the downward pressure on prices. Despite these challenges, the local economy remains strong, providing a solid foundation for future market stability.

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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 average 30-year fixed mortgage rates in Phoenix AZ are around 6.6%, which is higher than the mid-2026 forecast low of 5.50% for property owners in this market.

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 of $496,000 indicates a market experiencing downward pricing pressure.

2. With a median days on market of 162, the market shows signs of slower sales velocity and prolonged listing periods.

3. The median listing price of $469,000 reflects a significant gap from the sold price, suggesting potential pricing friction in negotiations.

4. Current interest rate pressure is deemed elevated, which may further impact buyer activity and market dynamics.

5. The median market rent is at $2,850, indicating a stable rental market despite a down trend in rent year-over-year.

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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.