85008
Phoenix, Arizona
Phoenix 85008 is stable.
The 85008 ZIP code in Phoenix, Arizona has a median sale price of $390K, up +4.0% year-over-year. Homes spend an average of 86 days on market, with 13% of homes selling above list price.
Folio's PropIQ™ score of 65 signals Caution conditions. This market is holding steady. Monitor inventory shifts before committing.
ZIP code 85008 shows measured appreciation with the median sale price reaching $390,000, up 4.0% year-over-year, tracking below both Phoenix metro and national averages. Homes are moving at a moderate pace, averaging 86 days on market, while only 13% of properties close above asking price. This combination of extended market time and limited bidding competition indicates a shift toward equilibrium after years of seller dominance in the Phoenix urban core.
The current conditions favor patient buyers with strong negotiating positions, particularly those seeking value plays in established neighborhoods without the pressure of competing offers. With 87% of homes selling at or below list price and nearly three months of typical market exposure, purchasers have time for thorough due diligence and can leverage inspection findings. Cash-constrained first-time buyers and value investors willing to wait for motivated sellers will find the most favorable entry points under these metrics.
The PropIQ score of 65 signals caution, suggesting potential volatility or downward price pressure in coming quarters as inventory dynamics continue adjusting. The 86-day absorption rate combined with modest 4.0% appreciation indicates weakening momentum that could compress further if days-on-market extends beyond 90 or if the percentage of above-ask sales drops below 10%. Monitor monthly inventory levels and price-cut frequency as leading indicators of whether this market stabilizes or softens through mid-2026.
What is the median home price in 85008 Phoenix?
The median sale price in 85008 is $390K, up +4.0% year-over-year as of 2026-02-28.
How long do homes stay on the market in Phoenix 85008?
Homes in 85008 Phoenix spend an average of 86 days on market before going under contract.
Is Phoenix 85008 a good place to invest in real estate?
Folio's PropIQ™ score for 85008 is 65/100 — a Caution signal. 13% of homes sold above asking.
What does a PropIQ™ score of 65 mean for 85008?
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 65 = Caution in 85008 Phoenix, Arizona.