85145
Phoenix, Arizona

The 85145 market shows measured appreciation with a median sale price of $285,860, up 2.5% year-over-year, indicating stability rather than momentum. Properties average 122 days on market, significantly above the metro baseline and suggesting extended negotiation windows. Only 11% of homes close above list price, confirming this is a buyer-controlled environment where sellers hold minimal pricing power and most transactions settle at or below asking.

This environment favors patient buyers with financing contingencies, as the 122-day marketing period allows thorough due diligence without competitive pressure. Investors seeking cash-flowing rentals benefit from the 11% above-list metric, which signals room for price negotiation and compressed acquisition costs. Sellers face headwinds and should avoid this market unless forced by relocation or financial necessity, as the +2.5% appreciation barely outpaces carrying costs on extended listing periods.

The PropIQ score of 65 signals caution, reflecting structural concerns about demand sustainability at current price levels. The combination of slow absorption and minimal bidding activity suggests price growth may flatten or contract if days-on-market extends further. Monitor monthly inventory additions and mortgage rate movements closely, as any supply increase or financing cost spike could pressure the median below $280,000 within two quarters.