85022
Phoenix, Arizona
Phoenix 85022 needs watching.
The 85022 ZIP code in Phoenix, Arizona has a median sale price of $430K, down -4.4% year-over-year. Homes spend an average of 64 days on market, with 14% of homes selling above list price.
Folio's PropIQ™ score of 55 signals Caution conditions. Elevated price drops and longer days on market indicate softening in 85022.
The 85022 market has entered correction territory with median prices at $430,000, down 4.4% year-over-year, signaling the first significant price decline in this North Phoenix corridor since 2019. Homes are averaging 64 days on market, nearly double the pace seen during the 2021-2022 peak period. Only 14% of properties are selling above asking price, indicating sellers have lost pricing power and buyer leverage has returned to levels not seen in over three years.
This environment favors patient buyers with financing already secured and sellers willing to price aggressively from listing day one. The 14% above-ask rate means competitive bidding is still present but limited to correctly-priced or undervalued properties. Investors seeking cash flow should find negotiating room given the 64-day absorption rate, while sellers who need to transact within 90 days must acknowledge the 4.4% decline in their pricing strategy or risk extended market time.
The PropIQ score of 55 reflects continued downward pressure through Q2 2026, with price stabilization unlikely before inventory levels contract or demand catalysts emerge. The current days-on-market metric suggests another 2-3% price compression is probable if the 64-day average extends beyond 75 days. Monitoring weekly new listing volumes and mortgage rate movements below 6.5% will be critical indicators of whether this market finds a floor at $410,000 or continues its correction.
What is the median home price in 85022 Phoenix?
The median sale price in 85022 is $430K, down -4.4% year-over-year as of 2026-02-28.
How long do homes stay on the market in Phoenix 85022?
Homes in 85022 Phoenix spend an average of 64 days on market before going under contract.
Is Phoenix 85022 a good place to invest in real estate?
Folio's PropIQ™ score for 85022 is 55/100 — a Caution signal. 14% of homes sold above asking.
What does a PropIQ™ score of 55 mean for 85022?
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 55 = Caution in 85022 Phoenix, Arizona.