Phoenix, AZ 85048 Real Estate Market Report

ZIP Code: 85048
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.

---

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

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

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.

---

Key Findings

1. The neighborhood's primary market value indicator, median sold price, is 581,000, which anchors current transaction levels and suggests recent sale prices are materially below asking levels where the median listing price is 649,900, indicating seller expectations may be priced above realized market outcomes; neutral market temperature appears to moderate negotiation leverage.

2. The spread between the median listing price and median sold price may indicate ongoing pricing friction and cautious buyer acceptance of asking prices, with a reported up price year-over-year trend signaling underlying price resilience despite that friction.

3. The market shows slower sales velocity with a median days on market of 240, which suggests elongated marketing times and that liquidity may be reduced even as broader indicators point to a balanced environment; stakeholders should plan for longer listing periods and consider targeted pricing or incentives to accelerate transactions. down rent year-over-year trend and moderate interest rate pressure further soften near-term demand for rental and purchase alternatives.

4. Valuation context from unit economics shows a median price per square foot of 273 and a median market rent of 1,870, which together inform relative affordability and investor yield considerations; given the reported sample signals of relatively constrained active supply, market participants should emphasize precise comparable analysis and realistic pricing to align offers with recent sold prices.

---

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 85048 Real Estate Market Report

ZIP Code: 85048
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.

---

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

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

---

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.

---

Key Findings

1. The primary indicator of market value and recent transaction activity, median sold price, is 324,450, which exceeds the median listing price of 295,000 and suggests recent closed transactions are running above asking levels up.

2. Liquidity appears muted: the neighborhood’s median days on market is 318, which points to slower sales velocity and may indicate pricing friction despite a sample-level characterization of relatively constrained active supply; sellers should expect extended marketing timelines declining/slow.

3. Pricing context shows a median price per square foot of 288 alongside a median market rent of 1,450; with rent year-over-year trend reported as down, rental income assumptions should be stress‑tested and investors should account for softer near-term rent dynamics.

4. Broader market signals are mixed: price year-over-year trend is reported as up while market temperature is described as neutral and interest rate pressure is moderate, suggesting modest price appreciation under tempered financing conditions—use conservative leverage and prioritize properties with clear value drivers.

---

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.