Phoenix, AZ 85050 Real Estate Market Report

ZIP Code: 85050
Report Date: February 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The median sold price in Phoenix, AZ (ZIP: 85050) is $597,450, reflecting a significant decrease in market value as the area adjusts to changing economic conditions. This decline is indicative of broader trends, with the market experiencing a down year-over-year price trend. The current market dynamics suggest a shift towards a more balanced state, characterized by elevated inventory levels and slower sales velocity, which may indicate buyer caution amidst elevated interest rate pressure.

With a median listing price of $850,000, there exists a notable pricing gap between asking prices and sold prices, suggesting potential pricing friction as sellers adjust expectations. The median days on market stands at 185 days, further emphasizing the slower transaction pace and the need for sellers to be competitive in their pricing strategies. Overall, the market appears to be stabilizing, yet it remains sensitive to external economic factors, particularly interest rates.

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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.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Phoenix, AZ, around 5.625% to 6.375% are generally lower than the recent 2026 average of 6.01% to 6.8%, presenting a potential cost-saving opportunity for property owners.

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. $597,450 is the median sold price, indicating a decrease in market value and potential pricing friction.

2. The median listing price of $850,000 suggests sellers may need to adjust expectations to align with buyer sentiment.

3. With 185 days as the median days on market, the market is experiencing slower sales velocity, indicating a need for more competitive pricing.

4. The market temperature is currently neutral, reflecting a balance between supply and demand, though caution is advised due to elevated interest rate pressure.

5. Rental demand is facing challenges, with a median market rent of $3,520, which may be impacted by an oversupply of new units leading to down rental trends.

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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.