85242
Phoenix, Arizona

ZIP code 85242 posted a median sale price of $504,500 as of February 2026, reflecting a notable 15.4% year-over-year appreciation that outpaces both metro Phoenix and national averages. Homes are moving at a moderate pace with 70.5 days on market, while 20% of properties still close above asking price—a metric indicating selective but present buyer competition. This dual signal of extended marketing time alongside above-list closures suggests a market transitioning from the acceleration phase of 2025 into more measured territory.

The current conditions favor sellers with equity capture objectives who can afford the 10-week average timeline, particularly those holding properties purchased before the recent appreciation cycle. The 20% above-list-price closure rate creates opportunity for well-priced listings to capture competitive bids, while the 70-day absorption period filters out buyers with urgent timelines. Patient investors seeking cash flow may find negotiating leverage given the extended days-on-market figure, though the double-digit appreciation limits entry points for value-focused strategies.

The PropIQ score of 70 signals neutral-to-cautious conditions ahead, suggesting the 15.4% appreciation rate will likely moderate through 2026 as affordability constraints increase buyer resistance. The 70-day marketing period bears monitoring—extension beyond 80 days would indicate definitive momentum shift toward buyer advantage. Current data points to stabilization rather than correction, with price growth decelerating but remaining positive absent significant rate or employment shocks in the Phoenix metro.