85004
Phoenix, Arizona
Phoenix 85004 needs watching.
The 85004 ZIP code in Phoenix, Arizona has a median sale price of $341K, down -25.1% year-over-year. Homes spend an average of 65 days on market, with 9% of homes selling above list price.
Folio's PropIQ™ score of 51 signals Caution conditions. Elevated price drops and longer days on market indicate softening in 85004.
The 85004 market is experiencing significant price correction, with the median sale price at $341,000 representing a sharp 25.1% year-over-year decline. Homes are sitting on market for an average of 65 days, and only 9% of properties are selling above list price. This data indicates a clear shift from seller to buyer advantage, with pricing power firmly on the demand side and minimal competitive pressure among purchasers in this downtown Phoenix corridor.
Price-sensitive buyers willing to negotiate gain the most leverage in current conditions, particularly those who can wait out the 65-day average marketing period to extract concessions. Investors seeking cash-flowing properties may find the $341,000 entry point attractive if rents have held steadier than sale prices, though the 25% decline warrants careful underwriting of further depreciation risk. Sellers face unfavorable conditions unless urgently needing liquidity, as the 9% above-list metric suggests limited pricing power.
The PropIQ score of 51 signals heightened caution, suggesting the market hasn't found a floor despite already falling 25% year-over-year. Buyers should monitor whether days-on-market begins declining or the above-list percentage rises above 15% as indicators of stabilization. The current score implies further softness is equally probable as recovery, making Q2 2026 absorption rates and new listing volumes critical metrics for determining whether $341,000 represents value or a falling knife.
What is the median home price in 85004 Phoenix?
The median sale price in 85004 is $341K, down -25.1% year-over-year as of 2026-02-28.
How long do homes stay on the market in Phoenix 85004?
Homes in 85004 Phoenix spend an average of 65 days on market before going under contract.
Is Phoenix 85004 a good place to invest in real estate?
Folio's PropIQ™ score for 85004 is 51/100 — a Caution signal. 9% of homes sold above asking.
What does a PropIQ™ score of 51 mean for 85004?
PropIQ™ is Folio's proprietary market score combining price momentum, days-on-market velocity, inventory absorption, and investment signals into a 0–100 number. Score of 51 = Caution in 85004 Phoenix, Arizona.