85228
Phoenix, Arizona
Phoenix 85228 needs watching.
The 85228 ZIP code in Phoenix, Arizona has a median sale price of $275K, down -3.9% year-over-year. Homes spend an average of 84 days on market, with 11% 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 85228.
The 85228 ZIP code shows clear deceleration with a median sale price of $274,990, down 3.9% year-over-year as of February 2026. Properties are averaging 84 days on market, indicating extended listing periods compared to typical hot market conditions. Only 11% of homes are selling above list price, signaling that buyer leverage has increased substantially and bidding wars have become rare in this Phoenix submarket.
This environment favors patient buyers with financing secured who can negotiate below asking prices given that 89% of transactions close at or under list. Sellers with equity built before 2024 can still exit profitably, but recent purchasers face compressed margins. Investors seeking rental income may find opportunity in the $274,990 price point, though capital appreciation appears stagnant based on the negative annual trajectory and extended absorption timeline.
The PropIQ score of 55 suggests caution is warranted for the next two quarters. Price stabilization requires days on market dropping below 60 and above-list transactions exceeding 20%, neither of which current velocity supports. Monitoring monthly inventory additions and mortgage rate movements will determine whether this becomes a deeper correction or sideways consolidation through mid-2026.
What is the median home price in 85228 Phoenix?
The median sale price in 85228 is $275K, down -3.9% year-over-year as of 2026-02-28.
How long do homes stay on the market in Phoenix 85228?
Homes in 85228 Phoenix spend an average of 84 days on market before going under contract.
Is Phoenix 85228 a good place to invest in real estate?
Folio's PropIQ™ score for 85228 is 55/100 — a Caution signal. 11% of homes sold above asking.
What does a PropIQ™ score of 55 mean for 85228?
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 85228 Phoenix, Arizona.