85223
Phoenix, Arizona
Phoenix 85223 needs watching.
The 85223 ZIP code in Phoenix, Arizona has a median sale price of $550K, down N/A year-over-year. Homes spend an average of 100 days on market, with 0% of homes selling above list price.
Folio's PropIQ™ score of 27 signals Caution conditions. Elevated price drops and longer days on market indicate softening in 85223.
The 85223 market has stalled after previous momentum, with the median sale price holding at $550,000 but showing zero year-over-year appreciation. Homes are averaging 100 days on market, substantially above the 30-45 day range typical of balanced conditions. No properties are selling above list price, indicating buyers face zero competition and hold full negotiating leverage. This represents a complete reversal from seller-favorable dynamics that characterized Phoenix submarkets through 2022.
These conditions heavily favor patient buyers with conventional financing who can wait out inventory and negotiate aggressively. The 100-day market time allows for thorough due diligence and multiple bidding attempts without pressure. Sellers face difficult conditions and should price at or below recent comparables to avoid extending days on market beyond three months. Investors seeking cash flow will find better negotiating position than acquisition opportunities, given flat appreciation and the PropIQ score of 27 signaling caution.
The 27 PropIQ rating suggests downward price pressure may materialize if days on market continue extending beyond 100 days into winter months. Markets with zero above-list sales and triple-digit days on market typically see 3-7% price corrections before stabilizing. Watch January 2025 inventory levels and any movement in days on market toward 120-plus days, which would confirm additional price depreciation ahead. Absorption rate deterioration would trigger stronger caution signals.
What is the median home price in 85223 Phoenix?
The median sale price in 85223 is $550K, down N/A year-over-year as of 2024-10-31.
How long do homes stay on the market in Phoenix 85223?
Homes in 85223 Phoenix spend an average of 100 days on market before going under contract.
Is Phoenix 85223 a good place to invest in real estate?
Folio's PropIQ™ score for 85223 is 27/100 — a Caution signal. 0% of homes sold above asking.
What does a PropIQ™ score of 27 mean for 85223?
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 27 = Caution in 85223 Phoenix, Arizona.