85044
Phoenix, Arizona

# ZIP Code 85044 Market Report – Phoenix, AZ

The 85044 market has entered a corrective phase with median sale prices at $468,111.50, down 8.2% year-over-year, marking a significant retreat from previous valuations. Homes are averaging 75.5 days on market, indicating slower absorption than peak periods when properties moved within 30-45 days. Only 14% of transactions close above list price, a sharp contrast to the 40-50% typical of competitive markets, demonstrating weakened buyer urgency and reduced bidding pressure across the ZIP code.

This environment favors patient buyers with financing already secured who can capitalize on the 8.2% price decline and negotiate on properties lingering past the 75-day mark. Investors seeking cash flow should find improved entry pricing compared to 2025, though the 55 PropIQ score suggests caution on appreciation assumptions. Sellers face headwinds unless priced below the $468,111.50 median, as the 14% above-list metric indicates most properties require competitive positioning to attract offers within reasonable timeframes.

The PropIQ score of 55 signals neutral-to-bearish momentum, suggesting prices may stabilize near current levels or drift lower before finding support. Monitoring days-on-market trends will be critical—any extension beyond 80 days would confirm further softening, while contraction below 70 days could indicate demand stabilization. The 14% above-list ratio must increase toward 20-25% before confirming a directional shift from buyers, making Q2 2026 data essential for validating whether this correction deepens or plateaus.