Phoenix, AZ 85051 Real Estate Market Report

ZIP Code: 85051
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 real estate market in Phoenix, AZ (ZIP: 85051) is characterized by a median sold price of $350,000, reflecting a notable shift in market dynamics. The neighborhood has decreased 8% since 2022, indicating a trend of declining values that may continue as inventory levels remain elevated. The median listing price stands at $360,000, suggesting a pricing gap that may contribute to buyer hesitation amidst a cooling market.

Transaction activity appears moderate, with median days on market reaching 190 days, signaling slower sales velocity. This extended time frame may indicate a shift towards a more cautious buyer sentiment, compounded by the current neutral market temperature. Elevated inventory levels relative to sales activity suggest a potential excess supply, which could further pressure prices downward if demand does not increase significantly in the near term.

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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 30-year fixed mortgage rates in Phoenix AZ around 5.88% are slightly higher than the 5.63% average seen in early February 2026, suggesting a minor rate increase for new loans.

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 $350,000 reflects a declining trend, having decreased 8% since 2022.

2. With a median listing price of $360,000, there is a notable pricing gap that may indicate pricing friction in the market.

3. The median days on market of 190 days suggests slower sales velocity, which may lead to prolonged negotiations for sellers.

4. Current market conditions are described as neutral, indicating a balanced state between buyers and sellers despite elevated inventory levels.

5. The median market rent of $2,386 is also experiencing a down trend, reflecting broader economic uncertainties affecting both buyers and renters.

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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.