Phoenix, AZ 85053 Real Estate Market Report

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

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

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

Key Findings

1. The primary indicator of recent transaction activity is the median sold price of 330,000, which anchors market value and suggests that recent closings are materially below asking expectations where the median listing price is 409,950, indicating a pricing gap between seller expectations and realized sales prices.
2. The market shows slower liquidity with a median days on market of 336, consistent with a cold market temperature and a price year-over-year trend of down, which may indicate sellers need to be more flexible on price and terms to achieve timely closings.
3. Rental market signals are soft: median market rent is 1,318 and the rent year-over-year trend is down, which may reduce investor appetite and weaken buy-to-rent economics in the near term.
4. Interest rate pressure is elevated (elevated) with local 30-year fixed mortgage rates reported at approximately 6.53% to 6.76%; combined with a median price per square foot of 232, this creates financing headwinds that can further prolong marketing time and support negotiating leverage for buyers.

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.