85143
Phoenix, Arizona

The 85143 market has entered correction territory with a median sale price of $390,000, down 1.3% year-over-year, while homes are averaging 82 days on market. Only 18% of properties are closing above list price, indicating sellers have lost pricing power compared to the previous cycle. This DOM figure suggests inventory is moving at a measured pace, neither stalling nor clearing rapidly, positioning the market in a neutral absorption phase.

Buyers gain negotiating leverage in this environment, with 82% of transactions closing at or below asking price providing room for offer adjustments and inspection-based concessions. The 82-day marketing period gives purchasers time to conduct thorough due diligence without competitive pressure from multiple-offer scenarios. Sellers facing timeline constraints should avoid this market, while patient sellers with equity cushions can still transact near the $390,000 median without significant discounting.

The PropIQ score of 60 signals caution, suggesting underlying fundamentals may deteriorate further before stabilizing. The negative price trajectory combined with elevated DOM indicates the year-over-year decline could extend beyond the current 1.3% if inventory continues accumulating. Monitor the percentage of homes selling above list—if it drops below 15%, expect median prices to accelerate downward into the next quarter.